The Announced Spanish Financial Transaction Tax
DOI:
https://doi.org/10.14422/icade.i105.y2018.006Keywords:
tax on financial transactions, Tobin tax, tax harmonization, financial taxationAbstract
Last 11th October the Spanish Government and the federal parliamentary group of Unidos Podemos - En comú - and - En Marea signed a budget agreement that, among other measures, lays the foundations for the establishment of a new tax on financial transactions. It should be noted that, although this tax figure is included in the document under the heading "New taxation", the idea is not new. In 2011 the European Commission presented a proposal for a Directive on a tax on financial transactions (replaced in 2013 by the enhanced cooperation mechanism) and in 2012 France and Italy enacted their own domestic taxes. Therefore this document outlines some assessments on the justification of this tax, its similarities and differences with other proposed rules in our legal system, the estimated collection and the potential impact on the citizens as private investors, all taking into account the existing academic research, the proposal for a Directive and the French and Italian taxes.References
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