Financial Transaction Taxes - Dissertation Example

Only on StudentShare

Extract of sample
Financial Transaction Taxes

Research report by Economic & Financial Policies Directorate, Ministry for EU Affairs, Turkey (Economic & Financial Policies Directorate, July 2012. FinansalIslem Vergilerive Avrupa BirligiUygulamas?. Ankara, Turkey) Useful information about taxation. Statistical references to specific issues. Research report by Ernst & Young LLP (Tax Policy Services, April 2012. Financial Transaction Tax, Which way now? London, United Kingdom) Useful for the understanding the current situation of the holistic structure of financial taxes in EU. http://www.gib.gov.tr (2012) This website was searched throughout to gain a deeper understanding of Turkish Tax System II - INTRODUCTION A financial transaction tax (FTT) is a tax placed on a specific type of financial transaction for a specific purpose. This term is most commonly associated with the financial sector. (HM Revenue & Customs, 2001)By any name, financial transaction tax is a fee paid any time by an individual or a company buys or sells a share of stock, any type of security, a futures contract, an options contract, or any of the commonly traded financial instruments. In recent times, the term FTT has been used to refer to the proposed bill “Let Financial Market Pay for the Restoration of Real Market Bill”. ...
Download paper

Summary

I - PRE-READING This project designs a framework for evaluating the causes, consequences and implications of financial transaction taxes with giving information of financial industry, reviews the extant research literature within the context of this framework and suggests fruitful avenues for future research…
Author : djohnson

Related Essays

Inheritance Taxes
“Death tax” label came about during the debate in the first years of George W. Bush’s presidency when those who saw the inheritance tax as a tax on wealth—their wealth—wanted it repealed. Using terms such as “death tax,” and framing the inheritance tax as a “double tax,” the small minority, approximately 2% of Americans, won the repeal. It did not hurt having a president set not only to inherit but who also has heirs to a sizeable fortune, and who wanted to please his “base,” deep-pocketed conservatives. In all actuality, the inheritance tax is a wealth tax: it taxes...
16 pages (4016 words) Essay
Moving Away from Traditional Transaction-Based Financial Information to Technologically Based Non-Financial Information
Many businesses have in the recent times shifted their focus from using the traditional transaction-based financial information towards using technologically based non-financial information (Agresti, 2002). This has been largely due to the fact that the traditional approaches usually limit themselves through the definition of their cost behaviors in the terms of their production along with sales level (Burns and Baldvinsdottir, 2007). The traditional methods were mostly utilized for the purposes of giving reports when the valuations of the items in their income statements and balance sheets...
7 pages (1757 words) Essay
Proposed European Union Financial Transaction Tax
The general population and normal business ventures were to remain unaffected (Vella, Fuest and Tim, 2011). The proposed tax was to be separate from normal bank charge that some regional administrations are in the process of levying on monetary institutions to help in shielding them from the fees of any potential bailouts. Research has revealed that the tax has the potential of gathering about 58 billion Euros per year. However, the member states of the European Union are still undecided on whether to agree to the proposal (Beck, 2011:73). Great Britain is one of the states that are vehemently...
9 pages (2259 words) Essay
The United Kingdom and Proposed European Union Financial Transaction Tax
This EU financial transaction tax is different from a bank levy. Regulators believe that the proposed policy has the potential to raise nearly 57 billion Euros per year. This proposal has been the topic of a hot debate across the European Union since its announcement in 2010 and it still remains controversial among the member states of the EU. This paper will critically appraise the statement that “The United Kingdom should drop its opposition to the proposed European Union Financial Transaction Tax. The benefits accrued from the introduction of such a tax far outweigh the drawbacks”. EU...
9 pages (2259 words) Essay
Financial Statements Essay
Financial accuracy and transparency is necessary for them as they would base their decision depending on the reports of the financial statement. The accurate representation of the financial statement would motivate an investor to invest, banks to lend money and the government to calculate the right amount of tax for the company. It also benefits the company by spreading their good name and increasing their goodwill in the market. Table of Contents Significance of Accurate Financial Statement for Outside Business Interest 5 Conclusion 7 References 9 Bibliography 10 Introduction The major motive...
5 pages (1255 words) Essay
Avoiding Taxes
Renouncing citizenship The determination of some citizens to avoid the payment of income taxes has led them to the idea renouncing their US citizenship. As per s 349(a) (5) of the Immigration and Nationality Act (INA) (8 U.S.C. 1481(a) (5), a US citizen is given the right to voluntarily renounce US citizenship. Expatriated citizens are bound to adhere to the expatriation tax provisions depending on their net worth. Since the government has found a way to oblige US citizens to pay taxes even when they are overseas, giving up US citizenship has become the last resort for some, who view tax...
3 pages (753 words) Assignment
Avoiding Taxes
The US tax returns process requires the US citizens to pay tax on the incomes they earn all over the world. The US citizens are required to pay income taxes on their world-wide income irrespective of the fact whether they visited the US land in recent times or in the recent decades. This led to the renouncing of US citizenship by the US people which has increased from 231 in 2008 to 1781 in 2011. By giving up US citizenship, the people of US or people residing abroad are able to reduce their tax liability as they are not required to follow the lengthy process of US tax returns (Yoshov, 2007)....
3 pages (753 words) Essay
Got a tricky question? Receive an answer from students like you! Try us!