This survey has been carried out within KPMG member firms in nine EU Member States that are considered to apply a tax on financial transactions (FTT) in the sense referred to by the European Commission in its proposal for an EU FTT (SWD(2013) 28 final).
The survey has been designed to give a general impression and identify common themes and issues rather than as a comprehensive scientific or academic treatise. By way of comparison the survey includes corresponding data on the European Commission’s proposal for a Directive on FTT under the enhanced cooperation procedure [COM (2013) 71 final].
The survey indicates that existing national FTTs display considerable variations as regards their design features. This in itself suggests that, depending on the political and economic objectives pursued, such taxes are in principle feasible in a number of given formats. The fact that most of the taxes surveyed have been applied for long enough to test their robustness also suggests that such varieties are also feasible in practice. However, whether the design of these country taxes would be equally suitable for an EU FTT depends on the objectives underlying those taxes as well as the objectives considered essential for an EU FTT.
By clicking on the light blue circles below you can access the country specific reports. Clicking the European Union flag will access an overview of the proposal for the EU tax on financial transactions.