Financial Transaction Tax: Difference between revisions

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imported>Doug Williamson
(Added information about the EU FTT proposal which is still under discussion. Source:(http://ec.europa.eu/taxation_customs/taxation/other_taxes/financial_sector/index_en.htm))
imported>Doug Williamson
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(FTT).
(FTT).


A tax levied on certain financial transactions. FTTs are levied at the financial institution’s level.  
A proposed tax to be levied on certain financial transactions, particularly any financial transactions which do not contribute to the efficiency of financial markets or of the real economy.


In September 2011, the European Commission proposed a harmonised Financial Transaction Tax for the entire European Union. The objectives of the proposed FTT were to:
* prevent the fragmentation of the Single Market that could result from numerous uncoordinated national approaches to taxing financial transactions
* ensure that the financial sector made a fair and substantial contribution to public finances
* discourage financial transactions which do not contribute to the efficiency of financial markets or of the real economy.


The initiative is also supposed to be a first tangible step for taxing such transactions at the global level.
FTTs are designed to be levied at the financial institution level.  


Currently it is under discussion whether a treasury centre that conducts financial transactions could be regarded as a financial institution according to FTT. Hence, depending on the respective transaction, FTT might arise.
It is possible that a treasury centre that conducts financial transactions could be regarded as a 'financial institution' for FTT purposes.  


Hence, depending on the transaction, a liability to FTT might arise.
The proposed FTT is sometimes written as Financial Transactions Tax.




== See also ==
== See also ==
*[[Financial institution]]
*[[Hypothecation]]
*[[Real economy]]
*[[Robin Hood tax]]
* [[Tax]]
*[[Tobin tax]]
*[[Tobin tax]]
* [[Germany]]
* [[Transaction]]
 
 
== External link ==
*[https://www.europarl.europa.eu/legislative-train/theme-deeper-and-fairer-internal-market-with-a-strengthened-industrial-base-taxation/file-financial-transaction-tax Financial Transaction Tax proposals - European Union]
 
[[Category:Accounting,_tax_and_regulation]]

Latest revision as of 11:21, 14 July 2022

(FTT).

A proposed tax to be levied on certain financial transactions, particularly any financial transactions which do not contribute to the efficiency of financial markets or of the real economy.


FTTs are designed to be levied at the financial institution level.

It is possible that a treasury centre that conducts financial transactions could be regarded as a 'financial institution' for FTT purposes.

Hence, depending on the transaction, a liability to FTT might arise.


The proposed FTT is sometimes written as Financial Transactions Tax.


See also


External link

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