The Financial Transaction Tax Within The Eu
Download The Financial Transaction Tax Within The Eu full books in PDF, epub, and Kindle. Read online free The Financial Transaction Tax Within The Eu ebook anywhere anytime directly on your device. Fast Download speed and no annoying ads. We cannot guarantee that every ebooks is available!
| Author | : Sabrina Schleimer |
| Publisher | : GRIN Verlag |
| Total Pages | : 62 |
| Release | : 2017-11-29 |
| Genre | : Business & Economics |
| ISBN | : 3668583862 |
Bachelor Thesis from the year 2017 in the subject Economics - Finance, grade: 1.7, Berlin School of Economics and Law, language: English, abstract: The global financial crisis of 2007/08 revealed the necessity of improved stabilisation and regulation of the global as well as European financial markets. In this context, increased attention was given to financial transaction taxes and in 2011, the introduction of a European Union Financial Transaction Tax was first proposed. The objectives for this tax, set out by the European Commission, were tripartite: financial revenue generation, regulative strengthening and the improvement of the efficiency of financial markets. The aim of this thesis is to examine whether the European Union Financial Transaction Tax would be an effective means to curb speculation in the European financial markets, and a suitable tax solution for the European Union. The thesis further analyses whether this tax could increase the financial markets efficiency, and contribute to a fair and substantial contribution of the financial sector to the participating countries’ public finances. In this regard, underlying theoretical concepts, potential positive effects of the transaction tax, as well as detriments and shortcomings are discussed.
| Author | : Michael Wurm |
| Publisher | : |
| Total Pages | : |
| Release | : 2013 |
| Genre | : |
| ISBN | : |
This thesis studies the economic impact of the 2013 proposal for a financial transaction tax that has been submitted by 11 of the 27 member states of the European Union (EU FTT).The analysis covers the impact of the tax on the financial markets and evaluates the tax with respect to achieving the intended economic objectives. The thesis is based on (a) a review of the relevant literature on asset pricing, market microstructure and international finance and (b) a comparison of the EU FTT with four other types of financial transaction taxes. The results indicate that the proposal for the EU FTT largely fails to achieve its intended economic goals; It does not make the financial sector contribute to the public finances of the respective member states to a sufficient degree and it does not distinguish effectively between the targeted and unintended consequences for the financial markets.
| Author | : Bettina De Souza Guilherme |
| Publisher | : Springer Nature |
| Total Pages | : 372 |
| Release | : 2020-12-09 |
| Genre | : Business & Economics |
| ISBN | : 3030548953 |
This open access book discusses financial crisis management and policy in Europe and Latin America, with a special focus on equity and democracy. Based on a three-year research project by the Jean Monnet Network, this volume takes an interdisciplinary, comparative approach, analyzing both the role and impact of the EU and regional organizations in Latin America on crisis management as well as the consequences of crisis on the process of European integration and on Latin America’s regionalism. The book begins with a theoretical introduction, exploring the effects of the paradigm change on economic policies in Europe and in Latin America and analyzing key systemic aspects of the unsustainability of the present economic system explaining the global crises and their interconnections. The following chapters are divided into sections. The second section explores aspects of regional governance and how the economic and financial crises were managed on a macro level in Europe and Latin America. The third and fourth sections use case studies to drill down to the impact of the crises at the national and regional levels, including the emergence of political polarization and rise in populism in both areas. The last section presents proposals for reform, including the transition from finance capitalism to a sustainable real capitalism in both regions and at the inter-regional level of EU-LAC relations.The volume concludes with an epilogue on financial crises, regionalism, and domestic adjustment by Loukas Tsoukalis, President of the Hellenic Foundation for European and Foreign Policy (ELIAMEP). Written by an international network of academics, practitioners and policy advisors, this volume will be of interest to researchers and students interested in macroeconomics, comparative regionalism, democracy, and financial crisis management as well as politicians, policy advisors, and members of national and regional organizations in the EU and Latin America.
| Author | : G. Lagos Rodríguez |
| Publisher | : |
| Total Pages | : |
| Release | : 2021 |
| Genre | : |
| ISBN | : |
Over the last two decades, the European Union (EU) and various European States have proposed or created several taxes aimed at increasing the overall tax burden to which the financial sector is currently subject. The interest in new taxable events and the need to regulate financial markets' functioning are two powerful reasons that support the application of this type of tax. This article details both the European Commission's Proposals for Directives on Financial Transaction Tax, and the related taxes currently in force in Europe. Evidence shows that the goal of harmonized taxation in this area is far from being achieved and that national decisions are based on two different models: a tax on the registration of certain transactions and a tax on financial transactions levied on the financial intermediaries involved in such transactions. This article focuses on the comparative experience of European States in the adoption of this type of tax. This review highlights the differences and similarities between different national taxes, and ultimately the possibilities of the EU's Financial Transaction Tax Proposal becoming effective.
| Author | : Bart van Vooren |
| Publisher | : |
| Total Pages | : 23 |
| Release | : 2012 |
| Genre | : Capital market |
| ISBN | : |
In the wake of the 2008 financial crisis, taxation of the financial sector has forcefully re-emerged on the European Union political agenda. One proposal - rightly or wrongly - received much political attention: a broad-based tax on financial transactions. What had for years existed as a utopia in the minds of grass roots movements, reached a legal and political milestone during Commission President Barosso's State of the Union speech on 28 September 2011. There he presented a proposal for an EU Directive on a financial transaction tax installed across the 27 EU Member States. It was then an explicit objective of the Union that it would lead by example, and that its pan-European implementation would prove the global feasibility of a financial transaction tax (FTT). The Cannes G-20 Meeting early November 2011 under French chairmanship was expected to launch the global dimension of the FTT, using the momentum created by the proposed EU FTT Directive two months earlier. However, the European sovereign debt crisis caused the EU to teeter on the brink of political, financial and economic collapse, and momentum for a global FTT seemed utterly lost. Nonetheless, political discussions within the Union continued, and at the time of writing - Spring 2012 - discussions in the Council were on-going for some form of pan-EU. The global implementation of the EU FTT Directive is a tale of divided political views between Member States of the Union, the pursuit of an elusive single voice in the G-20, and the use of legal instruments for political reasons. In this paper, it will serve as a case-study for the EU seeking to shape global financial governance in the wake of the 2008 financial crisis, in line with its binding, law-oriented mission statement of Article 21 TEU. In light of this, this contribution investigates EU (im)potence to affect legal and institutional processes in global (financial) governance.
| Author | : |
| Publisher | : |
| Total Pages | : 28 |
| Release | : 2016 |
| Genre | : |
| ISBN | : 9789279547058 |
The merits and demerits of financial transaction taxes have been heavily debated among economists, who remain divided on the effects of the taxes on trading volumes, market liquidity, and quotes volatility. In 2011, the European Commission put forth a legislative proposal for a common system of financial transaction taxes in the European Union. The proposal did not gather unanimity among all Member States and eleven asked to go ahead under the so-called enhanced cooperation procedure. In parallel, countries such as France and Italy have introduced their own taxes, while others of the group of eleven already had an FTT in place (Belgium and Greece). Discussions between Member States on the final design of the financial transaction tax are progressing, but to date no final decision has been made. This paper reviews the most recent economic literature on the effects of financial transaction taxes, with a focus on those recently introduced. It also details the proposals made by the European Commission.
| Author | : T. Hemmelgarn |
| Publisher | : |
| Total Pages | : 28 |
| Release | : 2016 |
| Genre | : |
| ISBN | : 9789279547065 |
The merits and demerits of financial transaction taxes (FTT) have been heavily debated among economists, who remain divided on the effects of the taxes on trading volumes, market liquidity, and quotes volatility. In 2011, the European Commission put forth a legislative proposal for a common system of financial transaction taxes in the European Union. The proposal did not gather unanimity among all Member States and eleven asked to go ahead under the so-called enhanced cooperation procedure. In parallel, countries such as France and Italy have introduced their own taxes, while others of the group of eleven already had an FTT in place (Belgium and Greece). Discussions between Member States on the final design of the financial transaction tax are progressing, but to date no final decision has been made. This paper reviews the most recent economic literature on the effects of financial transaction taxes, with a focus on those recently introduced. It also details the proposals made by the European Commission.
| Author | : Carmel Said Formosa |
| Publisher | : |
| Total Pages | : 0 |
| Release | : 2023 |
| Genre | : |
| ISBN | : |
This article analyses the European Commission's Proposal for Financial Transaction Tax with transaction taxes currently implemented in Member States of the European Union. The features identified for this purpose include transactions liable to tax, recognition of legal title, the tax base, jurisdictional rules, provisions for groups, exemptions, deduction rules and timing considerations. This analysis highlights that the Proposal, in principle, varies little from existing transaction taxes; tax rates are generally low and an extraterritorial effect is found in a number of Member States. The Proposal is however broader in scope and contains limited exemptions. The commonalities found in transaction taxes could help to forge a common framework for future reform of the Proposal whilst differences shed light on problems that may be encountered with respect to implementation. Greater support and guidance will be required.Full-text Paper.
| Author | : Serge Wibaut |
| Publisher | : |
| Total Pages | : 21 |
| Release | : 2017 |
| Genre | : |
| ISBN | : |
In the aftermath of the subprime crisis in the U.S. and the sovereign debt crisis in Europe, the opportunity for establishing a financial transaction tax (FTT) has become a topic of debate in the European Union. In this article, we survey the literature dealing with the possible theoretical and empirical implications of such a tax on market volatility. We then turn to the possible -- and unintended -- consequences of an FTT on savers and investors. We conclude that these consequences might outweigh the benefits of the FTT. More specifically, we find that an FTT is unlikely to meet its stated volatility control and revenue raising objectives, i.e., an FTT is unlikely to decrease volatility, and indeed, volatility might increase as markets became less liquid. It might raise very little revenue and could work to create more risk and deter long term investment.And then there are serious unintended side effects to consider. Most importantly, for the financial security and safety of the whole financial system, an FTT might heavily penalize pension funds, as well as the banks in their liquidity management and risk management activities, to the detriment of a well-functioning financial system.
| Author | : Dennis Weber |
| Publisher | : IBFD |
| Total Pages | : 227 |
| Release | : 2012 |
| Genre | : Financial institutions |
| ISBN | : 908722141X |
This book contains contributions from prominent practitioners and academics presenting their views on the tax levies on the financial sector from a legal and an economic perspective. (New) tax levies on the financial sector have been an ongoing subject of interest since the financial crisis of the past years. In this book, various ways of taxing the financial sector are discussed.
