Activities of António Fernando CORREIA DE CAMPOS related to 2011/0261(CNS)
Plenary speeches (1)
Common system for taxing financial transactions (debate)
Amendments (8)
Amendment 14 #
Proposal for a directive
Recital 1
Recital 1
(1) The recent financial crisis has led to debates at all levels about a possible additional tax on the financial sector and in particular a financial transactions tax (FTT). This debate stems from the desire to ensure the financial sector contribute to covering the costs of the crisis and that it is taxed in a fair way vis-à-vis other sectors for the future; to dis-incentivise excessively risky activities by financial institutions; to complement regulatory measures aimed at avoiding future crises and to generate additional revenue for general budgets with the aim of contributing to the budgetary consolidation processes now under way or specific policy purposes geared to economic growth.
Amendment 16 #
Proposal for a directive
Recital 1 a (new)
Recital 1 a (new)
(1a) Even though the debate at world level has not resulted in any agreement, the Union must take on a leadership role in this area. This will enable it to set an example with a balanced and successful tax, and to open the way for this example to be followed by other international partners at a later stage.
Amendment 29 #
Proposal for a directive
Recital 17 a (new)
Recital 17 a (new)
(17a) The benefits to be gained from applying this measure are independent of the intended destination of revenue and this discussion should therefore be held in a different context, notably in the context of the proposal concerning the multiannual financial framework 2014- 2020.
Amendment 32 #
Proposal for a directive
Article 1 – paragraph 2
Article 1 – paragraph 2
2. This Directive shall apply to all financial transactions, on which fulfil any of the following condition thats: (a) at least one party to the transaction is established in a Member State and that a financial institution established in the territory of a Member State is party to the transaction, acting either for its own account or for the account of another person, or is acting in the name of a party to the transaction; (b) the instrument that is the target of the transaction has been issued by entities that are established in the Union.
Amendment 44 #
Proposal for a directive
Article 8 – paragraph 2 – subparagraph 2 – point a
Article 8 – paragraph 2 – subparagraph 2 – point a
(a) 0.15% in respect of the financial transactions referred to in Article 5;
Amendment 47 #
Proposal for a directive
Article 8 – paragraph 2 – subparagraph 2 – point b
Article 8 – paragraph 2 – subparagraph 2 – point b
(b) 0.015% in respect of financial transactions referred to in Article 6.
Amendment 49 #
Proposal for a directive
Article 9 – paragraph 3
Article 9 – paragraph 3
3. Each party to a transaction, includingwith the exception of persons other than financial institutions, shall become jointly and severally liable for the payment of the tax due by a financial institution on account of that transaction, in case that financial institution has not paid the tax due by it within the time limit set out in Article 10(4).
Amendment 51 #
Proposal for a directive
Article 9 – paragraph 4 a (new)
Article 9 – paragraph 4 a (new)
4a. The transfer of rights in respect of a financial instrument resulting from a transaction shall have legal force only when the corresponding tax has been paid.