A leaked internal European report doubts the legality of the proposed Financial Transaction Tax (“FTT”). The problem is said to be that the 11 countries in the FTT group would infringe on the taxation of countries outside the group, such as the UK.
Well, quite, tax fans! I thought the whole idea of the FTT was to take from some countries at the expense of others. Still a long way to go in the FTT battle, but not all one way so far, it seems.
Tax Barrister, Accountant