Herman Van Rompuy wants FTT revenue earmarked for EU budget
20 November 2012
Salman Shaheen - ITR
EU Council President Herman Van Rompuy has said that he wants most of the revenue from the financial transaction tax (FTT) to go directly to the EU budget.
Now that 11 countries have requested to move ahead with the FTT under enhanced cooperation, the new tax is looking like an increasing certainty.
But Van Rompuy’s paper sent to European governments ahead of the EU budget summit this week, calling for two-thirds of FTT revenue to be set aside for the EU budget, may cause fresh frictions.
The Netherlands, for...
This article is available to subscribers of International Tax Review only. Please log in to read the rest of this article.
If you would like to gain access to additional related content, please upgrade your current subscription.
This article is available to subscribers only. To read the rest of this article please subscrbe.