9 Amendments of Othmar KARAS related to 2013/0045(CNS)
Amendment 31 #
Proposal for a directive
Recital 1 a (new)
Recital 1 a (new)
(1a) The revenues from the FTT should be allocated to the budget of the European Union as genuine own resources. This should not lead to a reduction of the respective national contributions of the participating Member States to the Union budget.
Amendment 35 #
Proposal for a directive
Recital 2 a (new)
Recital 2 a (new)
(2a) The FTT will truly achieve its objectives if it is introduced at global level. The enhanced cooperation of 11 Member States therefore only constitutes the first step towards a FTT on Union- level and ultimately on global level. The Union will continuously advocate a global introduction and will urge for a FTT being put on the G-20 agenda.
Amendment 38 #
Proposal for a directive
Recital 3 a (new)
Recital 3 a (new)
(3a) In light of the substantial progress of the European financial market regulation (for example reflected by the stricter rules of CRD IV/CRR or the FTT), participating Member States that have introduced banking levies in light of the recent financial crisis should review the necessity of such taxes and their compatibility with the rules and the aims of Union legislation and the single market.
Amendment 52 #
Proposal for a directive
Recital 13 a (new)
Recital 13 a (new)
(13a) With a view to strengthening the position of regulated markets and in particular of stock exchange trading, which is strictly regulated, controlled and transparent, against unregulated, less controlled and less transparent OTC trading, Member states should apply higher tax rates to OTC transactions. This will make it possible to effect a shift in trading from markets with little or no regulation to regulated markets. The higher rates should not apply to financial transactions of OTC derivatives where they objectively reduce risks and therefore serve the real economy.
Amendment 57 #
Proposal for a directive
Recital 16
Recital 16
Amendment 112 #
Proposal for a directive
Article 3 – paragraph 4 – point g a (new)
Article 3 – paragraph 4 – point g a (new)
(ga) transactions of the right to dispose of a financial instrument as owner and any equivalent operation implying the transfer of the risk associated with the financial instrument between entities of a group or between entities of a network of decentralised banks, where these transactions are carried out in order to fulfil a legal or prudential requirement that is set by national law or Union law.
Amendment 118 #
Proposal for a directive
Article 3 – paragraph 4 – point g b (new)
Article 3 – paragraph 4 – point g b (new)
(gb) transactions carried out as part of a market making activity as referred to in Art 2 paragraph 1 point (k) of Regulation 236/2012.
Amendment 140 #
Proposal for a directive
Article 9 – paragraph 2 – subparagraph 2 – introductory part
Article 9 – paragraph 2 – subparagraph 2 – introductory part
Those rates shall not be lower thanbe:
Amendment 148 #
Proposal for a directive
Article 9 – paragraph 3 a (new)
Article 9 – paragraph 3 a (new)
(3a) Notwithstanding paragraph 3, participating Member States shall apply a higher rate than those specified in paragraph 2 to OTC financial transactions referred to in Articles 6 and 7. Financial transactions of OTC derivatives which are objectively measurable as reducing risks as defined by Article 10 of Regulation 149/2013 shall not be subject to this higher rate.