Financial transactions tax in Europe will already appear this year

The European Commission suggested imposing the tax on all kinds of financial operations, including operations with bonds. This initiative was supported by eight Ministries of Finance of the European Union which have addressed with the letter, containing the requirement to approve the financial transactions tax at the European level already this year.

If we trust the forecasts of the European Commission, this tax will bring 57 billion euro a year. Gathering concerns banks, investment, broker and insurance companies, pension and hedges-funds. The tax rate will vary: operations with actions and bonds will be suffered with gathering in 0,1%, with derivative instruments — 0,01%. 

Expert’s opinion

«It is necessary to notice that except for Great Britain the others 26 EU countries approve the introduction of this tax. And though the question on financial operations and control over them causes live debate, it is necessary to understand that this measure is directed on crisis overcoming in the European Union. And if to consider this problem in this foreshorten, certainly, it will provide the mechanism of market stabilization. And on the other hand, most likely, will incur displeasure among bank and investment structures».

On the basis: http://europa.eu

Andrianova Irina ( the leading lawyer of legal support and banking consulting department of Honest & Bright )