The EU's tax commissioner Algirdas Semeta said Tuesday that 11 eurozone states have said they support launching a financial transactions tax, indicating the controversial project can move forward. "Four additional member states intend to join the enhanced cooperation, which means we arrive at 11," Semeta said after talks among ministers that saw four governments -- Italy, Spain, Slovakia and Estonia -- declare themselves for the tax, sources said. Nine states are needed to push forward an initiative among a group of EU states under the bloc's "enhanced cooperation" provisions, although a qualified majority must later approve the plans. The four states spoke up during a round-table that was only partially broadcast, with an Italian government spokesman and a counterpart with the Cyprus rotating presidency confirming the list. They will now write to the European Commission requesting legislation be drawn up to introduce the tax, joining initial proposers France and Germany, plus Austria, Belgium, Greece, Portugal and Slovenia. Semeta said that member states "should be very clear that agreement on the FTT is a separate issue that has to be discussed here," with disagreement notably on whether revenues would go into a mooted eurozone central budget or be retained by national treasuries. Britain's George Osborne said he would not stand in the way, but maintained a "specific proposal" was now required before it could guarantee that it would wave through enhanced cooperation among other EU states. He raised a string of questions, raising the prospect of a lengthy negotiation over the design of the tax, including "does it cover equities, derivatives and foreign exchange transactions?"
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor