The Council of the European Union has published a “State of play” document on the Commission’s proposal for a Directive on enhanced co-operation on financial transaction taxes, between Austria, Belgium, France, Germany, Greece, Italy, Portugal, Slovakia, Slovenia and Spain.

This document briefly summarizes:

  • The Commission’s original proposal for a Directive, of 28 September 2011, which – if made and brought into force – would have created a financial transaction (or Tobin) tax for the whole of the European Union;
  • The Commission’s amended proposal for a Directive, of 14 February 2014, on enhanced cooperation between 11 Member States (Estonia has since dropped out); and
  • A series of ECOFIN Council meetings from 2014 and 2015;

Before implying that ECOFIN Council discussions will or might take place about enhanced cooperation on a Tobin tax after the end of June 2016.

There’s more information about each of these things on the European Commission’s Taxation and Customs Union webpage, here.