The Resource Potential and risks of a financial transaction tax, (electronic resource)

Potential and risks of a financial transaction tax, (electronic resource)

Label
Potential and risks of a financial transaction tax
Title
Potential and risks of a financial transaction tax
Creator
Contributor
Language
eng
Summary
In the continuing debate on financial reform, transaction taxes are intensively discussed. Especially comprehensive taxes levied on all financial transactions at a low rate have recently been considered. This paper concludes that the implementation of a financial transaction tax (FTT) of 0.01 percent, levied on all transactions including the trading of shares, bonds, currencies and derivatives, is both advisable and feasible. The application of the transaction tax would have two effects: First, it would reduce the size of the financial sector and eliminate some undesired and socially futile activity. Second, the application of the financial transaction tax would generate revenue of about 250 billion dollars, assuming the tax would be applied globally and the reduction of trading activity would be high. It is often argued that financial transaction taxes can only be implemented globally or not at all. In order to avoid the relocation of financial transactions to non-taxing territories (which may be tax havens or other OECD-countries), this paper suggests that a currency transaction tax, also known as the Tobin tax, should be applied at a rate of one percent by likeminded countries, if a global consensus on the implementation of FTT cannot be achieved. The rationale for the second layer of taxation is not the stabilization of exchange rates, but rather the creation of a mild restriction on capital flows in case the achievement of a global consensus on financial transaction taxes will not be possible
Cataloging source
IT-FiEUI
http://library.link/vocab/creatorName
Diete, Heribert
Illustrations
illustrations
Index
index present
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
Garnet Network of Excellence
Series statement
Garnet working paper
Series volume
78/10
Label
Potential and risks of a financial transaction tax, (electronic resource)
Link
http://www2.warwick.ac.uk/fac/soc/pais/research/researchcentres/csgr/garnet/workingpapers/
Instantiates
Publication
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier.
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Control code
FIEb16967732
Extent
39 pages.
Media category
computer
Media MARC source
rdamedia.
Media type code
c
Specific material designation
remote
System control number
(OCoLC)1088486511
Label
Potential and risks of a financial transaction tax, (electronic resource)
Link
http://www2.warwick.ac.uk/fac/soc/pais/research/researchcentres/csgr/garnet/workingpapers/
Publication
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier.
Content category
text
Content type code
txt
Content type MARC source
rdacontent.
Control code
FIEb16967732
Extent
39 pages.
Media category
computer
Media MARC source
rdamedia.
Media type code
c
Specific material designation
remote
System control number
(OCoLC)1088486511

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