Financial Transaction Tax: Difference between revisions
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imported>Doug Williamson (Create the page. Source: Germany page.) |
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)) |
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(FTT). | (FTT). | ||
A tax levied on certain financial transactions. | A tax levied on certain financial transactions. FTTs are levied at the financial institution’s level. | ||
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. | |||
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. | |||
== See also == | == See also == | ||
*[[Tobin tax]] | |||
* [[Germany]] | * [[Germany]] | ||
Revision as of 09:38, 29 July 2015
(FTT).
A tax levied on certain financial transactions. FTTs are levied at the financial institution’s level.
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.
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.
