If the exemption for government bonds is not recognized, Italy is ready to veto the European measure of taxation on financial transactions (for the adoption of which unanimity is required). This was stated by the permanent representative of Italy to the EU Ferdinando Nelli Feroci in a press conference.
“The question of the tax base is a very delicate point for us. Our red line is the exclusion of government bond transactions from the tax base,” Nelli said. “It is an indispensable position. We are ready for a tough confrontation on this – he continued – Otherwise there will be no Financial Transaction Tax. We are not alone. We are certainly not alone.".
