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We argue that a financial transaction tax complements financial market regulation. With the tax, governments have an … transactions will not be curbed, FFT generates at least large tax revenues that can contribute to cover the costs of the financial … crisis. The trend towards centralized clearing and depositaries makes tax evasion more difficult than it was in the past. Tax …
Persistent link: https://www.econbiz.de/10013108341
be contrasted to the position of the tax authority asserting unreality of the taxpayer's transactions with a counterparty … and obtaining by the taxpayer an unjustified tax benefit …
Persistent link: https://www.econbiz.de/10013084625
This paper studies the effects of the introduction of the French financial transaction tax in August 2012. With the tax …-term trading. We find that the financial transaction tax has a strong impact on trading intensity and liquidity supplier behavior … that policy makers need to be well aware of the links between tax design and investor behavior, before introducing a …
Persistent link: https://www.econbiz.de/10013087307
We develop a price maker/taker model to study how a financial transaction tax affects markets where potential traders … the tax; significantly reduce asset prices, gains from quoting, gains from trade, and volume; and, do not eliminate … intermediation but increases significantly with intermediation. We find some early evidence of tax effects predicted by our model …
Persistent link: https://www.econbiz.de/10013070179
Introducing a financial transaction tax (FTT) has recently attracted tremendous global attention, with both proponents … circumstances that there exists a win-win situation via optimal trading when the tax burden can be dispersed. The way to absorb FTT …
Persistent link: https://www.econbiz.de/10013000853
potential impacts of the Financial Transactions Tax recently adopted by the European Commission in response to the significant … possible effect of an introduction of a 0.1% tax on financial transactions would be on trading volumes and levels of volatility … a tax would likely increase volatility levels but may not have much effect on trading volumes. As a result the proposed …
Persistent link: https://www.econbiz.de/10013001801
Persistent link: https://www.econbiz.de/10013162419
We investigate the impact of the French 2012 financial transaction tax on trading activity, volatility, and price …
Persistent link: https://www.econbiz.de/10013163193
stress. To encourage value generation and improve market quality, we advance a graduated Non-Value-Added Tax that we … implement in an agent-based model that can realistically capture the properties of real-world financial markets. A profitable … various rates under the Non-Value-Added Tax regime. Unlike existing financial transaction taxes, the non-value-added tax is …
Persistent link: https://www.econbiz.de/10013169713
We use the introduction of a financial transaction tax (FTT) in France in 2012 to test competing theories on its impact …
Persistent link: https://www.econbiz.de/10012961532