Sat, Aug 19, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Dutch participants think the financial transaction tax is a political statement

Friday, March 15, 2013

amb
Patrick van de Laar
Benedicte Gravrand, Opalesque Geneva:

In January, The European Commission, the EU's executive arm, gave its accord to 11 member countries to go ahead with a planned Financial Transaction tax (FTT). The countries in question are Germany, France, Spain, Italy, Belgium, Estonia, Greece, Austria, Portugal, Slovenia and Slovakia. The proposal for an FTT was originally adopted by the European Commission in September 2011 but stalled due to an initial lack of support. Plans for the implementation of the FTT were outlined last month and follows the original plan, namely a 0.1% tax on trades in stocks and bonds and a 0.01% tax on derivative transactions. The proposal has to be unanimously approved by all 11 countries by September 30, 2013.

If it is, the FTT should become law in the 11 states from January 1, 2014. According to The FT, "widespread objections from many other countries, together with threats of lawsuits from financial institutions, may delay the pace and dilute the form of implementation. But there seems an urgent determination to proceed. Reducing the territoriality of the tax, narrowing the range of transactions covered and exempting some institutions such as pension funds are just some of th......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: Albright Capital puts a value lens on emerging markets[more]

    Bailey McCann, Opalesque New York: Over the past decade, investors have steadily increased investments in emerging markets private funds. Allocations to the cohort have increased from $93 billion in December 2006 to $564 billion in September 2016, according to data from research firm Preqin. Howe

  2. FinTech - Danger: Crowdfunding on the wrong platform could force you to go public[more]

    From LinkedIn.com: Some equity crowdfunding platforms are putting startups at serious risk. Working with a platform that doesn't structure your deal appropriately could jeopardize your ability to raise future capital or worse, force you to become a public reporting company. The emergence of eq

  3. David Tepper says we're 'nowhere near an overheated' stock market[more]

    From Marketwatch.com: Billionaire David Tepper thinks comparing this current stock-market environment with the overheated markets of 1999 is "ridiculous." The hedge-fund manager, who runs Appaloosa Management, told CNBC in a phone interview on Tuesday that the market's record run, notwithstanding la

  4. Opalesque Exclusive: Altegris and Artivest partner on distribution for alternative funds suite[more]

    Bailey McCann, Opalesque New York: California-based investment firm Altegris has partnered with New York-based alternative investments platform Artivest on distribution for $1 billion in alternative funds. The partnership also launches Artivest's capabilities to offer alternative solutions to acc

  5. Investing - Buffett's Berkshire Hathaway will not increase its Oncor offer, Travel-tilting hedge funds are investing in airlines and online travel agencies[more]

    Buffett's Berkshire Hathaway will not increase its Oncor offer From Reuters.com: The energy unit of Warren Buffett's Berkshire Hathaway Inc said on Wednesday it will "stand firm" on its $9 billion offer to acquire 80 percent of Oncor Electric Delivery Company LLC and will not increase it