Taxing Financial Transactions: An Assessment of Administrative Feasibility
August 1, 2011
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Summary
This paper considers how a tax on financial transactions could be applied to three broad and partially overlapping categories of financial instruments: (1) exchange-traded instruments; (2) over-the-counter instruments; and, (3) foreign exchange instruments. For each category, the paper examines the factors that would facilitate or complicate the administration of a financial transactions tax, the options for collecting the tax, the types of compliance risks that are likely to be encountered, and measures for mitigating these risks.
Subject: Currencies, Financial institutions, Financial instruments, Foreign exchange, Foreign exchange transactions, Money, Securities, Taxes, Transaction tax
Keywords: Currencies, financial transactions tax, Foreign exchange transactions, forward contract, Global, market participant, OTC transaction, OTC transactions, Securities, stamp tax, tax administration, tax agency, tax liability, Transaction tax, transfer tax, WP
Pages:
51
Volume:
2011
DOI:
Issue:
185
Series:
Working Paper No. 2011/185
Stock No:
WPIEA2011185
ISBN:
9781462309276
ISSN:
1018-5941
