A financial transactions tax (FTT) for 11 EU countries would be illegal as it affects the tax sovereignty of others, according to an opinion by the legal service of the EU Council in Brussels.
The European Commission says the tax is in line with EU law, however.
In the leaked document, seen by Reuters and Financial Times, the lawyers serving EU member states say the proposed financial transactions tax "exceeds member states' jurisdiction for taxation under the norms of internation...
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