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. | ||
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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. Hence, depending on the transaction, a liability to 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. | The proposed FTT is sometimes written as Financial Transactions Tax. | ||
<span style="color:#4B0082">'''''Still possible'''''</span> | |||
:"Tax reforms are not going away ... | |||
:Financial transaction tax is still a possibility." | |||
:''Michelle Price, associate policy and technical director, Association of Corporate Treasurers, The Treasurer, August 2018, p24.'' | |||
== See also == | == See also == | ||
*[[Diverted profits tax]] | *[[Diverted profits tax]] | ||
*[[Germany]] | |||
*[[Hypothecation]] | |||
*[[Robin Hood tax]] | *[[Robin Hood tax]] | ||
*[[Tobin tax]] | *[[Tobin tax]] | ||
[[Category:Accounting,_tax_and_regulation]] | |||
Revision as of 15:13, 4 August 2018
(FTT).
A proposed tax to be levied on certain financial transactions.
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.
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.
Still possible
- "Tax reforms are not going away ...
- Financial transaction tax is still a possibility."
- Michelle Price, associate policy and technical director, Association of Corporate Treasurers, The Treasurer, August 2018, p24.
