10 EU Member States Aim to Implement Financial Transaction Tax by 2016

Finance ministers from 10 EU Member States have agreed to the implementation of a EU financial transaction tax by January 1st, 2016, according to a joint statement issued May 6th, 2014. The Member States include Austria, Belgium, Estonia, France, Germany, Greece, Italy, Portugal, Slovakia, and Spain, and the tax would only be enforceable in these 10 jurisdictions. Slovenia, previously a supporter of the tax, is considering withdrawing from the initiative.

The move forward to implement the tax …