• Financial Transaction Tax: Draft Legislation to Introduce a Financial Transaction Tax in France
  • February 10, 2012 | Authors: Gauthier Blanluet; Nicolas de Boynes
  • Law Firms: Sullivan & Cromwell LLP - New York Office ; Sullivan & Cromwell LLP - Paris Office
  • Following the outline released by France’s and Germany’s Ministers of Finance on 9 September 2011 (see our client memorandum of 12 September 2011) and the publication of a draft directive by the EU Commission on 28 September 2011 (see our client memorandum of 4 October 2011), draft legislation to introduce a financial transaction tax (the “FTT”) in France was presented by the French government on 8 February 2012. This proposal will be discussed by the French Parliament in the coming weeks.