Only on stock purchases, there isn't a country in the world that has a transaction tax on derivates other than stocks. With the recent exception of Brazil, but that only applies to foreign investors, not domestic. The tax had zero chances of being implemented by this congress.
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Democrats now officially pushing transaction tax according to Erin Burnet
- Thread starter traderbigt
- Start date
Only on stock purchases, there isn't a country in the world that has a transaction tax on derivates other than stocks. With the recent exception of Brazil, but that only applies to foreign investors, not domestic. The tax had zero chances of being implemented by this congress.
Quote from hoffmanw:
Yup! In India, you pay .10% tax for each stock transaction (sale or purchase). There is also a .01% transaction tax on the sale of derivative.
The derivatives tax was abolished this year, also know as CTT in India.
http://in.reuters.com/article/domesticNews/idINBOM54634420090706
That's right. Pretty soon they will be taxing you to flush the toilet and people will be shitting in the streets. England had a tax on the number of windows you had in your house. People literally bricked up their windows to avoid the tax. The US is heading down this road.
I'm gonna laugh my fat ass off if they tax the futures markets on the full value of the contract. Volume will fall by about 90% and the CME will be a ghost town. Goldman will have to trade with other banks. Good luck with this tax Democrats.
I'm gonna laugh my fat ass off if they tax the futures markets on the full value of the contract. Volume will fall by about 90% and the CME will be a ghost town. Goldman will have to trade with other banks. Good luck with this tax Democrats.
Quote from 1flyfisher:
When this story first broke a few months back I said you will see this come to fruition. I said the democrats will find a way to tax ANYTHING and EVERYTHING they possibly can and this will gain momentum. And I still say This is going to happen for several reasons.
The politicians want more tax payer dollars coming into their hands.
They are spending like crazy and will tax like hell to pay for it all.
Democrats will bleed taxpayers dry any chance they get.
Wallstreet is in ill favor with the general public.
There is no opposition to this, no organized political group is organized to oppose this tax.
It will happen
Quote from Billy Thunder:
The derivatives tax was abolished this year, also know as CTT in India.
http://in.reuters.com/article/domesticNews/idINBOM54634420090706
You are right!
Quote from truehawk:
I believe the actual language exempts trades of less than $100,000 from the tax.
The authors seem unaware that exchanges pay the Prime Brokers as Supplemental Liquidity Providers, and that the Prime Brokers are exempt from most fees, and from settlement delivery deadlines.
I participated in a Q&A on this with several members. They are open to raising the amount where the tax takes affect. They intend to shape the tax to target large players, and make high frequency trading uneconomical.
They also see it as a way to track and follow the market. They also talked about a .01%tax, so the amount of the tax is not set in stone. The paper trail seems to be the real objective.
They seem to have the support of maybe 14 countries or so in the G20 give or take.
hmm..if trades less than 100k are exempt then all you have to do is put out multiple 100 share orders to avoid the tax.