Oireachtas Joint and Select Committees
Wednesday, 2 October 2013
Joint Oireachtas Committee on Finance, Public Expenditure and Reform
Financial Transaction Tax: Discussion with Department of Finance
3:25 pm
Ciarán Lynch (Cork South Central, Labour) | Oireachtas source
If two countries in the FTT system are communicating with one another and transactions are taking place between a German and a French bank, or perhaps a German bank and its own set French set-up, a communication takes places in which the French are drawing down a revenue - the use of that revenue is one matter - and the German institution or the German revenue is drawing down money, which can be used for something else. In a situation where those companies deal in jurisdictions where the FTT does not apply, what happens to that money?
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