United Kingdom - The EU’s Financial Transaction Tax, Enhanced Cooperation and the UK’s challenge
- United Kingdom
- C. HJI Panayi
- European Taxation, 2013 (Volume 53), No 8
- 8 July 2013
As a reaction to the financial crisis, in 2011, the European Commission developed a proposal for an EU-wide Financial Transaction Tax. This article looks at how this proposal has developed, and the use of enhanced cooperation between EU Member States. In this article, the author examines the UK's concerns with the European Commission’s initial and subsequent proposals. The author also considers the recent UK challenge of the decision authorizing the adoption of an EU financial transaction tax through enhanced cooperation.