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Transaction Tax

   Also found in: Dictionary/thesaurus, Legal, Wikipedia 0.02 sec.
Transaction tax
Applies mainly to international equities. Levies on a deal that foreign governments sometimes charge.

Transaction Tax
A tax on a sale of property, especially the sale of a security. This is rarely used in the United States. In 1968, the City of Philadelphia levied a small transaction tax on all shares traded on the Philadelphia Stock Exchange, which caused the Exchange to move to Bala Cynwyd, immediately outside Philadelphia, until the tax was rescinded. More rarely, the term transaction tax may refer to a tax on the transfer of title on any property such as real estate. In this sense, capital gains taxes and estate taxes are transaction taxes. It is also called a transfer tax. See also: Stamp duty.


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The group will examine the rationale of securities transaction tax and stamp duty.
Gord gave another opinion at the weekend's G20 summit on transaction tax.
He said: "We do need to look ahead to see whether or not it would be possible to develop a transaction tax that would have to be universal, it would be comprehensive in its scope, and would have to be compatible of financial stability as well as making sure that it is fair and didn't distort things.
 
 
 
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