On the website of the European Commission the remarks made by Commissioner Dombrovskis at the ECOFIN press conference have been published. The first remarks Mr Dombrovskis made with respect to taxes regarded the potential introduction of a Financial Transaction Tax by certain EU Member States.
With respect to the introduction of the Financial Transaction Tax Mr Dombrovskis stated the following:
“First, we note that Ministers of 10 Member States have now agreed in principle on the key parameters of a Financial Transaction Tax for participating Member States.
The remaining details will be worked on by the participating Member States before the summer.
The Commission will help translate this agreement into a legal text.
Rest assured, the Commission will do everything necessary to ensure that the FTT respects European and international law, including the rights of non-participating Member States, and is consistent with other initiatives launched by the Commission, such as the Capital Markets Union.”
Unfortunately Mr Dombrovskis did not state which are the 10 states that agreed in principle on the key parameters of a Financial Transaction Tax for participating Member States. If indeed only 10 Member States agreed in principle on the key parameters of a Financial Transaction Tax, this seems to imply that either Austria, Belgium, Estonia, France, Germany, Greece, Italy, Portugal, Slovakia, Slovenia or Spain did not agree on these principles.
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