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They also discussed the necessity of tax coordination at EU level, the role a Consolidated corporate tax base can play in this context, and the future of the VAT system.
Šemeta: "During the discussion, I recalled that the European Commission is finalising a legislative proposal for a financial transaction tax at EU level. We will come forward with a solid and concrete proposal in the next few weeks. I welcomed France's support in this respect and also strongly encouraged President Sarkozy to continue voicing his support during subsequent discussions in the Council".
"Proposing a financial transaction tax in the EU as a first step would be a strong signal to promote such a tax at global level. I welcomed France's support to encourage work at international level on a global financial transaction tax in the G20 under the French Presidency."