Database on German and European Economic Law

 Council Directive on a common system of financial transaction tax and amending Directive 2008/7/EC

I. Description

The recent global economic and financial crisis had a serious impact on our economies and the public finances. The financial sector has played a  major role in causing the economic crisis whilst governments and European citizens at large have borne the cost. There is a strong consensus  within Europe and internationally that the financial sector should contribute more fairly given the costs of dealing with the crisis and the current under-taxation of the sector. Several EU Member States have already taken divergent action in the area of financial sector taxation. The purpose of this  proposal is to provide a common European approach to this issue that is consistent with the internal market. The present proposal aims at  complementing the EU regulatory framework for safer financial services by addressing particularly risky behaviour in some segments of financial  markets so as to avoid the repetition of past practices.

During several meetings of the Council's it was clear that unanimous support for a common system of Financial Transaction Tax, be it along the lines of the Commission proposal or any variant thereof, could not be reached at the level of all Member States.

II. General Information

Title

Council Directive on a common system of financial transaction tax and amending Directive 2008/7/EC

Status
Proposal
Directive
Proposal
Character
Regular Act
Legal Basis
Art. 113 AEUV
Legislative Procedure
Consultation procedure

III. Versions and Legislative History

1. Legislative History

Datum
Typ / Titel
Textfassungen
03/29/2012
Opinion of the European Economic and Social Committee
ABL 2012/C 181/55
Opinion of the Committee of the regions
ABL. 2012/C 113/03
09/28/2011
Proposal
COM(2011) 594 final

2. Comments

Datum
Stellungnahme
Textfassungen
03/02/2012
Deutsches Aktieninstitut (DAI)
Comment on: Kommissionsvorschlag
01/24/2012
Nicolette Kressl, Dr. Carsten Sieling (SPD-Bundestagsfraktion)
Comment on: Kommissionsvorschlag
11/23/2011
Die Deutsche Kreditwirtschaft (DK)
Comment on: Kommissionsvorschlag
11/21/2011
Verband der Auslandsbanken in Deutschland e.V. (VAB)
Comment on: Kommissionsvorschlag
09/28/2011
Bundesverband Öffentlicher Banken Deutschlands (VÖB)
Comment on: Kommissionsvorschlag

3. Legal Impact

Auswirkungstyp
Richtlinie
Textfassungen
Amendment
  Directive 2008/7/EC

Legend

Legislative Act Status

Documents

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Overview

I. Description
II. General Information
III. Versions and Legislative History
1. Legislative History
2. Comments
3. Legal Impact