Transaction tax

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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Stock Exchange, which caused the Exchange to move to Bala Cynwyd, immediately outside Philadelphia, until the tax was rescinded.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.
References in periodicals archive ?
Our understanding is that a very narrow based financial transaction tax has its disadvantages and provides distortions of the market," Semeta said.
On the one hand, the effects of the financial transaction tax levied by Sweden from 1984 to 1991 were disastrous, notes the study.
When you increase the stock transaction tax, you're increasing the friction cost,' he said.
The Indian government has said that it had dropped a plan to revive the banking transaction tax.
Firstly, a financial transaction tax under enhanced cooperation can legally become the base for a new own resource.
Taipei, May 25, 2012 (CENS) -- The legislation bureau of the Legislative Yuan proposed that in line with the resumption of levying securities transaction gains tax, the rate of securities transaction tax should be cut to 0.
European Commission president Jose Manuel Barroso said the financial transaction tax (FTT) for all 27 EU countries could raise [ETH]55bn (pounds 47bn) a year and would ensure the sector made "a fair contribution" in an austere economic climate.
For my point of view, we don't want to see a new transaction tax, we think
He said a number of international bodies were showing interest in the transaction tax, which he described as "an idea whose time may well come".
The evolution of transaction tax management has been rapid.
The Philippine Stock Exchange and its member stock brokers are worried about a proposal of the new administration to double the stock transaction tax to 1 percent, saying this would make the local stock market less attractive.

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