Dislikedlooks good tobin tax will come not until 2016!!!
http://www.faz.net/aktuell/wirtschaf...-11970563.htmlIgnored
http://www.reuters.com/article/2012/...8MO0SB20121124
Tobin Tax on currency transactions 0 replies
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Dislikedlooks good tobin tax will come not until 2016!!!
http://www.faz.net/aktuell/wirtschaf...-11970563.htmlIgnored
QuoteDislikedThe initiative was pushed hard by Germany and France but strongly opposed by Britain, Sweden and other proponents of free markets. It was in the works for two years. Britain, home to the region's biggest trading centre, will not join the scheme.
DislikedNew push from the EU to implement tobin:
http://www.businessworld.ie/bworld/l....htm?a=3026271
http://online.wsj.com/article/SB1000...900398620.htmlIgnored
DislikedHi,
all points are only proposals. They can change it everytime and include the forex spot market. Maybe they relieve only interbank spot forex because firms exchange currencies with the help of banks meanwhile retail brokers are the home of evil speculators and have to be punished. We'll never know until the EU will announce precise rules.
Btw what is the logic behind the idea to relive spot forex and not the forex future market from the point of view of a firm?Ignored
DislikedSo even if you live in one of those countries that imposed the tax all you have to do to avoid it is use a broker in another country, right ? I assume it's the kind of tax that's withheld by the broker, not the kind where they put you in jail if you don't self report. Romania has a 1% forex profit tax collected by the broker; all you have to do to avoid it is use one based in another jurisdiction.Ignored
DislikedHi, I moderate a thread in another forum regarding the FTT and a few traders made some interesting posts and I unfortunately think they are right (sry it's german):
"Und im Währungshandel müßte man direkten Zugang zum Kassamarkt der Forex haben. Alle "angelehnten" Handelssysteme und Produkte, die sich noch einen kleinen Spread rausschneiden, sind dann schon wieder steuerpflichtig, ebenso wie der Forex Future etc"
"Völlig richtig. Wer über eine CFC-Bude EUR/USD Kassa handelt, handelt natürlich ein Derivat.
Direkten Zugang zu...Ignored
DislikedThere is no way to avoid the tax when you live in one of the called countries! They will apply the residence principle what means you have to pay the tax regardless where you trade.Ignored
Dislikedi don't think that person understands the meaning of derivatives. Retail forex traders trade spot forex, they do not trade derivative contracts. So regardless of the spread and regardless of the broker, if it's spot it means quotations come from the interbank market (although at higher spreads) and it's not derivative.Ignored
DislikedThere is no way to avoid the tax when you live in one of the called countries! They will apply the residence principle what means you have to pay the tax regardless where you trade.Ignored
DislikedYes,that is correct. spoT forex is exempted from Europe's
INTERESTING: can you imagine if SPOT FOREX ends up being the ONLY excemption....
THEN,...Ignored
DislikedYes,that is correct. spoT forex is exempted from Europe's
INTERESTING: can you imagine if SPOT FOREX ends up being the ONLY excemption....
THEN,...Ignored
DislikedI don't think that person understands the meaning of derivatives. Retail forex traders trade SPOT forex, they do not trade derivative contracts. So regardless of the spread and regardless of the broker, if it's SPOT it means quotations come from the interbank market (although at higher spreads) and it's not derivative.
Another issue: if this tax does apply to SPOT forex trading (although I doubt it will) and to a point where it will be impossible to dodge by financial institutions - it means volatility will increase in the market in order to account...Ignored
DislikedI'm not disputing what you're saying cause I dont know the details of this thing. But how the heck are they gonna collect that tax if I use a foreign broker US, Singapore etc ? Are they expecting me to make a note of every trade I take, calculate 0.02% of it and declare it in a tax form and if I fail to do the math they impose on me send me to jail ? They should realize the majority are simply not gonna bother with it.Ignored