Of course it will put stock traders out of business.
And one day it may come to the US.
But French and German stock traders can switch to trading US equities on the US exchanges as a viable alternative. Many UK traders do this.
Or wait for CFD contracts on their own markets, which may or may not fall under the scope the of EC9 FTT, we dont know yet.
It is not the end of the world for stock traders in France as long as they dont expand the scope of what they are planning at the moment.
Most prop traders in europe trade derivatives and not stocks.
For those unfortunate traders trapped behind the iron-FTT curtain, our CPA firm and tax attorneys will look into strategies like C-corps formed in Delaware to trade U.S. and global markets, avoiding FTT and being compliant with their local country law for FTT and income taxes.
We heard Canadians are interested in U.S. entities to accomplish their trading goals on U.S. exchanges.
After we see details, we will hunt for legal solutions.
ROME — Germany, France, Italy and Spain are in favour of a common financial transactions tax even though it may not be possible across all the European Union, their leaders said Friday at talks in Rome.
For those unfortunate traders trapped behind the iron-FTT curtain, our CPA firm and tax attorneys will look into strategies like C-corps formed in Delaware to trade U.S. and global markets, avoiding FTT and being compliant with their local country law for FTT and income taxes.
We heard Canadians are interested in U.S. entities to accomplish their trading goals on U.S. exchanges.
After we see details, we will hunt for legal solutions.
If they are implementing it based on the residence principle, we would have no other choice than to relocate physically. In France for example, you can create offshore entities but the administration has the possibility to requalify your business as a french one ( fiscal evasion procedure , different from fiscal fraud ) and make you pay.
So I will just get the hell out of this sinking ship and it's just about time.
If they are implementing it based on the residence principle, we would have no other choice than to relocate physically. In France for example, you can create offshore entities but the administration has the possibility to requalify your business as a french one ( fiscal evasion procedure , different from fiscal fraud ) and make you pay.
So I will just get the hell out of this sinking ship and it's just about time.
If they use the residence principle, I think it aggressively steps on FTT dissenters' toes like the UK who said no to FTT. That may open their EC FTT plan to challenge.
Of course it will put stock traders out of business.
And one day it may come to the US.
But French and German stock traders can switch to trading US equities on the US exchanges as a viable alternative. Many UK traders do this.
"Or wait for CFD contracts on their own markets, which may or may not fall under the scope the of EC9 FTT, we dont know yet.
It is not the end of the world for stock traders in France as long as they dont expand the scope of what they are planning at the moment.
Most prop traders in europe trade derivatives and not stocks.
"Or wait for CFD contracts on their own markets, which may or may not fall under the scope the of EC9 FTT, "
these are inefficient products which the brokerage industry uses to rip off the public. take a good look at the spreads in these products. the sec has correctly classified as a gambling product and unsuitable for american investors. it is a nonstarter for traders.
Germany Fin Min Schaeuble: 10 countries now support the financial transactions tax; conditions are in place for enhanced cooperation-
Does anyone know if there have been other "enhanced cooperation" agreements in the past or would the FTT EC agreement be the first?
If there were any previous enhanced cooperation agreements, do we know any details such as: How long did they take to put into place? Were they challenged by other affected countries? Were there difficulties enforcing the agreements? Etc., etc., etc.
