The FTT received overwhelming
support, with 533 votes in favour and 91 against.
The European Parliament vote was
triggered after the Commission gave approval for Austria,
Belgium, Estonia, France, Germany, Greece, Italy, Portugal,
Slovakia, Slovenia and Spain to introduce the FTT under
Algirdas Semeta, European
Commissioner for Taxation, Customs Union, Audit and Anti-Fraud
welcomed the vote.
"This is an important procedural
step, and a strong political and democratic signal to the
member states," Semeta said.
The next step is for the 27
member states to vote on whether the 11 countries can proceed
under enhanced cooperation.
"The 11 willing member states
must be allowed to move ahead with the FTT, for the sake of
fair taxation and a stronger single market," Semeta said. "I
urge finance ministers to make this matter a top priority in
the new year, and to give the green light needed for the FTT to
hopes the FTT will be introduced at the beginning of 2014
if all goes to plan.
The European Parliament wants
the FTT to become a model for other countries to follow and the
first step towards a global tax.
Whether or not this vision is
realised will depend on whether the FTT succeeds in raising
significant amounts of revenue while constraining risky
transactions, or whether transactions are shifted abroad.