Spanish FTT – introduced with effect from 16 January 2021. The introduction of the Spanish FTT, and with the end of the Brexit transitional period approaching, now may be a good time to review FTT positions across the EU.
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to raise revenue and ensure an adequate contribution from the financial sector to tax revenues.At that stage, it was launched with a three-fold purpose:
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Restructuring, Special Situations and InsolvencyĪn EU-wide Financial Transaction Tax (" FTT") was first proposed by the European Commission back in 2013.Antitrust, Regulation and Foreign Investment.GB get brain and they decide to leave eurozone, they done right thing. Sweden Explains Why A European Financial Transaction Tax Won't Work - Business Insider Sweden in 1980 do the same as what this EU wont and what happend? EU is stupid they still think they can get a lot of money from this FTT but they will never.
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Bernie Sanders, Hillary had it as part of their campaign platform (in different forms) and there's another bill trying to get it here, although no immediate danger.ĭoes anyone know anything about this - how would it affect us small futures traders?Ĭontract value and from this you would pay 0,01%.
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Would this be on the notional value of a futures contract? If it ever gets passed here and its on the notional value I guess it would shut down the market. At half that rate, total revenue would dip to 16.6 billion euros, according to the documents seen by Bloomberg. Taxes on financial transactions have occasionally been suggested in various forms and received traction after the financial crisis. Those figures are based on a tax rate of 0.01 percent for derivatives. Here is what Europe is trying to do for derivitives (I assume futures would be included)ĭerivatives account for more than half of the projected revenue, with 6.2 billion euros coming from exchange-traded contracts and 6.1 billion euros from over-the-counter trades, according to documents prepared for a meeting this week of officials from the 10 countries. Europe is trying to get a financial transaction tax passed (10 countries) and it could happen here with a Democratic congress.