UK FTT objection may restrict instruments to be taxed
The UK continues to oppose the financial transaction tax that is to be adopted by 11 EU states
Mark Persoff, partner in financial services, Ernst & Young
The UK’s case has in effect been put on hold, pending the passing into law of any revised European Union (EU) financial transaction tax (FTT), if indeed any FTT is passed. We expect the next substantive developments to take place following the meeting of the EU11 finance ministers, on May 6 in Brussels. France and Germany have previously said they are looking to achieve some sort of agreement amongst the EU11 before the European
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