A coherent tax framework for the EU's financial sector

This own-initiative report concerns a coherent tax framework for the EU's financial sector. The amendments focus on the VAT exemption for financial services and the resulting irrecoverable input VAT, call for reform of the VAT rules, and debate financial transaction taxes, VAT grouping and temporary windfall levies on bank profits, while stressing tax fragmentation across Member States and that direct taxation remains a Member State competence.