Financial Transaction Tax: Difference between revisions

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(FTT).
(FTT).


A tax to be levied on certain financial transactions.  
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 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 was also designed to be a first tangible step for taxing such transactions on a global basis.


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


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.  


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




Sometimes written as Financial Transactions Tax.
The proposed FTT is sometimes written as Financial Transactions Tax.




== See also ==
== See also ==
*[[Financial institution]]
*[[Hypothecation]]
*[[Real economy]]
*[[Robin Hood tax]]
*[[Robin Hood tax]]
* [[Tax]]
*[[Tobin tax]]
*[[Tobin tax]]
*[[Germany]]
* [[Transaction]]
*[[Hypothecation]]
 
 
== 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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