Financial Transaction Tax: Difference between revisions

From ACT Wiki
Jump to navigationJump to search
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
(Added Robin Hood tax to see also)
Line 15: Line 15:


== See also ==
== See also ==
*[[Robin Hood tax]]
*[[Tobin tax]]
*[[Tobin tax]]
* [[Germany]]
* [[Germany]]

Revision as of 09:40, 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.


See also