Transaction tax

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Transaction tax

Applies mainly to international equities. Levies on a deal that foreign governments sometimes charge.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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Stock Exchange, which caused the Exchange to move to Bala Cynwyd, immediately outside Philadelphia, until the tax was rescinded.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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
Notably, the Court's decision applies to all subnational transaction taxes. Moreover, in the decision the Court manifested its loss of patience with Congressional inaction relating to the tax treatment of remote vendors.
Although the FTT is connected to and understood as a Tobin tax in most cases, several different tax instruments are generally referred to as "financial transaction taxes." Matheson (2011) defines a securities transaction tax (STT) as a tax on trades in all or certain types of securities (equity, debt and their derivatives).
Swedish stock values fell by 5.3 percent and capital gains tax receipts actually fell by more than the amount of transaction taxes collected.
Leaving these needs unaddressed is a political decision." The World Bank recently estimated that USD 12.5 billion is needed annually to scale up effective nutrition programs globally.The World Health Organization WHO reports that an additional USD 37 billion needs to be spent on global health, every year, in order to meet the health-related Millennium Development Goals.These estimates do not include the cost of researching and developing better diagnostics, medicines, and vaccines, which are needed for tuberculosis or the most neglected diseases like Chagas, sleeping sickness, and kala azar.The idea of financial transaction taxes (FTTs) is not new, and indeed one such example already exists for health ?
Withholding and transaction taxes applied to the clearing and settlement of cross-border securities deals could be subject to EU regulation, after barriers to trading on capital markets were identified in a new Commission Fact Funding Study.
The presumptive use of the substance-over-form doctrine in income taxes does not apply to other types of taxes, particularly transaction taxes. Such taxes (such as sales and use taxes) differ from income taxes in that they are designed so that every step or transaction is determined on its own to be taxable or nontaxable.
Any procurement team that is not considering transaction taxes in its landed costs could be making an expensive mistake as normally recoverable value-added tax (VAT) and goods and services tax (GST) can sometimes become an expense that should be factored into landed cost.
15 Exchange Place, which inspired the architecture for 70 & 90 Hudson Street, was built in the early 1900's to accommodate the booming stock transaction clearing flow that emanated from Manhattan as a result of a disparity in transaction taxes.
is a provider of enterprise transaction tax software and tax research that enables Global 2000 companies to improve cash management and profitability through the centralized management of global transaction taxes. The company's flagship product, The Sabrix Solution, combines The Sabrix System enterprise tax software with Sabrix Tax Research to provide complete transaction tax management for the U.S.
As if on cue, two influential NGOs, the U.S.-based Tobin Tax Initiative and France's Association for Transaction Taxes to Aid Citizens (ATTAC), sprang up and started a carefully coordinated international campaign to promote the Tobin tax.
And the transaction taxes you describe would kick in at that point.
Transaction taxes are intended to raise the cost of trading and thus to create a barrier to entry for certain categories of trading activity.

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