VIDEO: Work On Financial Transaction Tax To Go On, EU Executive Says

The European Commission rebuffed an EU legal opinion that questioned the legality of a planned financial transaction tax and said work on the levy in 11 European Union countries would go on. The legal services of the European Council, the institution which represents governments of the 28-nation EU, said in their 14-page legal opinion dated September 6 that the Commission’s transaction tax plan “exceeded member states’ jurisdiction for taxation under the norms of international customary law”.

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