(Difference between pages)
imported>Doug Williamson |
imported>Doug Williamson |
| Line 1: |
Line 1: |
| (FTT).
| | 1. |
|
| |
|
| A tax to be levied on certain financial transactions. | | A partial refund to someone who has paid too much money for tax, rent, or a utility. |
|
| |
|
| 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.
| | 2. |
|
| |
|
| | A deduction or discount on a sum of money due. |
|
| |
|
| 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.
| | 3. ''Verb.'' |
|
| |
|
| | Pay back (such a sum of money). |
|
| |
|
| The proposed FTT is sometimes written as Financial Transactions Tax.
| | [[Category:Accounting,_tax_and_regulation]] |
| | |
| | |
| == See also ==
| |
| *[[Robin Hood tax]]
| |
| *[[Tobin tax]]
| |
| *[[Germany]]
| |
| *[[Hypothecation]]
| |
Revision as of 16:37, 28 January 2020
1.
A partial refund to someone who has paid too much money for tax, rent, or a utility.
2.
A deduction or discount on a sum of money due.
3. Verb.
Pay back (such a sum of money).
