A plan to tax financial transactions in 11 European Union member states from 2014 is illegal, EU legal advisers have cautioned 11 EU governments.
The legal advisers have concluded that the suggested approach on which companies should be taxed is "discriminatory," will likely distort competition, violates EU law and "exceeds member states’ jurisdiction for taxation,".
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The conclusions of the 14-page legal opinion will make it harder to push the measure through in its current form.
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