European Parliament adopts ambitious approach on financial transaction tax

25.05.2012 On the 25th May, 2012 deputies of Euro Parliament supported the introduction of financial transaction tax in the EU. Also it was an opinion with a desire to finalize the project of this tax to guarantee its payment by all participants of financial market.

The tax rates proposed by the Commission (0.1% for shares and bonds and 0.01% for derivatives) are considered suitable and pension funds should be the only sector exempted from the tax.

Brussels hopes, that the resolution can become a law, if only few EU member states vote for it. The official report said that the resolution should support all 27 EU countries. However, we already know that Great Britain and Sweden oppose the new tax.

Expert’s opinion

In conditions of economic crisis and instability EU seeks to find new ways for overcome it. About introduction of additional financial transaction tax discussed for a long time, but how it can be effective, time will tell.

The most important issue – the question is whether all EU member-states support this tax or not. Now it is too difficult to answer. Now it is known that Great Britain refuses to sign this resolution. Let's see if the Germany "push" it.

On the basis: www.europarl.europa.eu

Lomakina Irina ( the director of Moscow office of Honest & Bright )