Tobin Tax Effect on Forex - Page 2
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Thread: Tobin Tax Effect on Forex

  1. #11
    Quote Originally Posted by ;
    Anybody from Italy here? Does the tax affect Currency Market trading? if so. . .how are things there?
    Hello Manstein,

    The advice we have indies that spot Currency Market trading is exempt in the financial transaction tax (FTT), however the tax will apply to trading contracts for difference (CFDs). Our CEO Drew Niv touched on the impliions of this tax during our last earnings call. You can read his remarks from the third paragraph of this transcript:

    Welcome to the forum


  2. #12
    Hi Jason. Thanks.

    Is the CEO speaking about italian single ftt implemented now or the wide one which will function as 11 countries by january 2014?

    I am not so certain the FX market will be exempt of the FTT from the eleven countries. So far as I understand they plan to tax all derivatives, FX included. I have been following thread along with the information the guys post there appears to affirm that for me.

  3. #13
    Position FX of LMAX Exchange should be exempt.

    In countries with exceptionally fraudulent Ministries of Finance such as Germany I will be very careful with regular retail / bucketshop brokers which take the opposite side. They will argue against it being real spotfx together with the arguments already mentioned. Prepare for a court case there or await a precedent. If you haven't already done so this could be a good time to find a good broker. Most cited here don't fall under that egory.

  4. #14
    I've only noticed about this bit of *** tax.
    They main goal is believed to reduce the fiscal speculations with attention on transactions who doesn't survive long.
    I think that they can focus on the lenght of this trade. Under the transactions that are huge and 30 sec.

  5. #15
    New german authorities coalition will push tobin ardently...

  6. #16
    Imposing a monetary transaction tax (FTT) from 11 European Union member countries would be illegal, according to the bloc's lawyers.

  7. #17
    Quote Originally Posted by ;
    Imposing a financial transaction tax (FTT) from 11 European Union member states are prohibited, according to the bloc's attorneys. Http://
    Yes but power homes like Germany, with Assistance of 10 other people, can Change any law they want. . .or almost. . .although if UK sues. . .it could delay things. . .France went ahead last year anyway, with very bad results...
    The Problem is the taxation, will have a negative influence on the market, but the politicians managed to market it to the People, as a way to solve the world financial crisis. . .and yes the great majority is fully convinced, this can resolve all of the financial Problems brought on by the Banks....Big Banks are laughing....
    People will always cover pay one way or another, no one escapes...
    The Problem is politicians wish to Dress and seem like Tobin Hood, it´s alluring, and brings votes...

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