Good afternoon everybody by Giulio Centemero on Giulio Centemero.com.
Last Tuesday during the hearings held in the committees 6th and 14th of the Chamber of Deputies I asked Commissioner Gentiloni, given the fact that he mentioned a reform of the EU taxation on Financial Transactions, if an abolition of the Tobin Tax is planned. The latter, according to the financial newspaper MF, made lose Italy billions of Stock Exchange transactions. Plus, the same tax, although deriving from EU legislation doesn’t harmonically apply to all the EU member states, jeopardizing the Italian financial system.
Commissioner Gentiloni said that as agreed with the EU Parliament the subject is being analyzed and the Commission took until 2024 to carry the analysis and propose solutions. These kind of delays can be detrimental for our financial sector. Decisions and reforms should be made fast in order to be effective.