Current developments

Financial transaction tax proposal on the Council's table

On 8 November, the economic and financial affairs ministers took note of a presentation by the Commission of its proposal to tax financial transactions in the European Union.

The Commission considers that its proposal for a financial transaction tax (FTT) would enable the financial industry, currently under-taxed in relation to other sectors, to make a fair contribution to the public finances. It would also create a disincentive for transactions that do not enhance the efficiency of financial markets.

The draft directive would cover transactions relating to all types of financial instruments, including capital market and money market instruments (with the exception of instruments of payment), units or shares in collective investment undertakings and derivative agreements. Transactions with central banks are, however, excluded.

The presentation of the proposal was followed by an exchange of views among ministers. The Ecofin Chairman, Polish Finance Minister Jacek Rostowski, invited the relevant Council working parties to start analysing the proposal.

EU decision-making on tax issues requires unanimity. 

More information:
Press release (pdf)
Council debate webcast
Press conference webcast
Taxation of the financial sector (on Europa server)


Source CONS, © Fotolia


Photo exhibition “30” dedicated to the anniversary of the Romanian Revolution of 1989, opened at the EU Council, Atrium area


In 2019, we honour the memory of those who 30 years ago took the streets and stood for free and democratic Romania! Do not miss the exhibition “30” opened at the EU Council, Justus Lipsius building - Atrium area. You will see powerful images of those …

The message of Minister for European Affairs George Ciamba at the end of the Romanian Presidency of the Council of the European Union


“Presiding over the Council was the maturity test for Romania and a means to reconfirm its attachment to the European project” – George Ciamba We are preparing to hand over the Presidency of the EU Council after six intense months,…