Taxing of financial sector as possible own resource of EU budget
The discussion about the possible taxation of the financial sector has started in the European Union as a result of the financial crisis which has spread to the Europe from the United States in 2008. European Commission concluded that EU should lead the efforts to introduce system of levies or taxie...
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| Format: | Article |
| Language: | English |
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Mendel University Press
2013-01-01
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| Series: | Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis |
| Subjects: | |
| Online Access: | https://acta.mendelu.cz/61/4/1051/ |
| _version_ | 1818389431442210816 |
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| author | Danuše Nerudová |
| author_facet | Danuše Nerudová |
| author_sort | Danuše Nerudová |
| collection | DOAJ |
| description | The discussion about the possible taxation of the financial sector has started in the European Union as a result of the financial crisis which has spread to the Europe from the United States in 2008. European Commission concluded that EU should lead the efforts to introduce system of levies or taxies on financial institutions. EU member states individually committed to support the financial sector for a total about EUR 4.6 trillion (i.e. 39% of EU-27 GDP in 2009). Those public interventions have significant budgetary consequences (strongly felt in Greece, Spain or Italy) and imposes a heavy burden on the present and future generations. Therefore there is a strong consensus not only on the level of the European Union but also internationally, that financial sector should contribute to the public finance more fairly. As a reaction on costs of the financial crisis which was paid out from the public money, some of the countries immediately introduced temporary measures in order to collect back paid out money. The aim of the paper is to research the possibility of financial sector taxation, to discuss the proposal of the European Union on the introduction of financial transaction tax on EU level and through the multi-criteria analysis to research, whether this type of the tax is suitable as an own resource of EU budget. |
| first_indexed | 2024-12-14T04:41:37Z |
| format | Article |
| id | doaj.art-5de3dec37f0d4703b10b48b38b1572c5 |
| institution | Directory Open Access Journal |
| issn | 1211-8516 2464-8310 |
| language | English |
| last_indexed | 2024-12-14T04:41:37Z |
| publishDate | 2013-01-01 |
| publisher | Mendel University Press |
| record_format | Article |
| series | Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis |
| spelling | doaj.art-5de3dec37f0d4703b10b48b38b1572c52022-12-21T23:16:47ZengMendel University PressActa Universitatis Agriculturae et Silviculturae Mendelianae Brunensis1211-85162464-83102013-01-016141051106010.11118/actaun201361041051Taxing of financial sector as possible own resource of EU budgetDanuše Nerudová0Department of Accounting and Taxes, Mendel University in Brno, Zemědělská 1, 613 00 Brno, Czech RepublicThe discussion about the possible taxation of the financial sector has started in the European Union as a result of the financial crisis which has spread to the Europe from the United States in 2008. European Commission concluded that EU should lead the efforts to introduce system of levies or taxies on financial institutions. EU member states individually committed to support the financial sector for a total about EUR 4.6 trillion (i.e. 39% of EU-27 GDP in 2009). Those public interventions have significant budgetary consequences (strongly felt in Greece, Spain or Italy) and imposes a heavy burden on the present and future generations. Therefore there is a strong consensus not only on the level of the European Union but also internationally, that financial sector should contribute to the public finance more fairly. As a reaction on costs of the financial crisis which was paid out from the public money, some of the countries immediately introduced temporary measures in order to collect back paid out money. The aim of the paper is to research the possibility of financial sector taxation, to discuss the proposal of the European Union on the introduction of financial transaction tax on EU level and through the multi-criteria analysis to research, whether this type of the tax is suitable as an own resource of EU budget.https://acta.mendelu.cz/61/4/1051/financial transaction taxfinancial activities taxbudgetEuropean Union |
| spellingShingle | Danuše Nerudová Taxing of financial sector as possible own resource of EU budget Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis financial transaction tax financial activities tax budget European Union |
| title | Taxing of financial sector as possible own resource of EU budget |
| title_full | Taxing of financial sector as possible own resource of EU budget |
| title_fullStr | Taxing of financial sector as possible own resource of EU budget |
| title_full_unstemmed | Taxing of financial sector as possible own resource of EU budget |
| title_short | Taxing of financial sector as possible own resource of EU budget |
| title_sort | taxing of financial sector as possible own resource of eu budget |
| topic | financial transaction tax financial activities tax budget European Union |
| url | https://acta.mendelu.cz/61/4/1051/ |
| work_keys_str_mv | AT danusenerudova taxingoffinancialsectoraspossibleownresourceofeubudget |