While giving a speech at the European Parliament on July 3rd, the Commissioner for Taxation of the European Commission Algirdas Semeta said that the highly debated financial transaction tax, which is being proposed in Europe, may have to be scaled back in order to guarantee it will be implemented in the near future.

According to Algirdas Semeta, the European Commission is now ready to consider amending the tax by lowering the rates applied to transactions involving “specific market segments”, especially sovereign bonds, pension funds and intra-company transfers.

Source: http://www.taxationinfonews.com/2013/07/eu-to-compromise-on-transaction-tax/