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ExchangeBonds

Registered: Jan 2012
Posts: 175

07-31-12 02:55 PM

Quote from everc:

It´s 0,1% or in this case 0,2% of the transaction amount...

That's what zdreg said. 0.1% = .001

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GATT

Registered: Sep 2009
Posts: 16

07-31-12 10:57 PM

Here we go:

NOTIFICATION - FRENCH TRANSACTION TAX

Interactive Brokers would like to inform clients of the French Financial Transaction Tax (FTT) enacted in March 2012 and which comes into force 1 August 2012. Key information regarding the tax is provided below: Tax Rate: The rate is currently set at 0.20% Tax Base: The tax is assessed on the purchase of certain French equities. The French Ministry of Finance has released a list of 109 French companies whose securities are subject to the FTT. The tax is due on the net position delivered on settlement date, as such purchases and sales which settle at a common depository will be eligible to be netted for determination of the tax. Effective Date: The FTT is applicable to trades of August 1, 2012. IB anticipates charges to customer accounts shortly after this date Transaction Types: The FTT will be applied to both exchange trades as well as delivery of shares on exercise of an option or future contract. The FTT may also be applicable to shares received from a corporate action; however at this time the full scope of the corporate action types subject to FTT is unconfirmed. For a current list of companies subject to FTT as of August 1, 2012 click here ( http://ibkb.interactivebrokers.com/node/1963 ).

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zdreg

Registered: Oct 2003
Posts: 8335

08-03-12 11:16 AM

knight capital group fiasco will renew call for a FTT.

http://dealbook.nytimes.com/2012/08...ew-expected/?hp

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sheda

Registered: Apr 2011
Posts: 621

08-03-12 12:34 PM

President Hollande this week launched the first tranche of France's financial transaction tax. Ed Miliband has just been greeted at the Elysée Palace, pointedly before David Cameron. Closely watching the progress of this leader of European resistance to austerity, Miliband has not, as yet, made the tax Labour policy, but he is seriously considering it.

How could he not? Nine European countries, including Germany, bring in the tax in December

Have I missed an EU agreement to bring forth the tax in December?

http://www.guardian.co.uk/commentis...iliband-radical

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listedguru

Registered: Aug 2002
Posts: 1569

08-03-12 02:09 PM

Quote from sheda:

Have I missed an EU agreement to bring forth the tax in December?

http://www.guardian.co.uk/commentis...iliband-radical

This is news to me. I think it's just bad reporting (wishful thinking) by an ultra liberal newspaper.

-Guru

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TraDaToR

Registered: Dec 2006
Posts: 3777

08-03-12 03:02 PM

Quote from sheda:

Have I missed an EU agreement to bring forth the tax in December?

http://www.guardian.co.uk/commentis...iliband-radical

I guess they will start the enhanced cooperation process in December, which means there won't likely be any tax before at least June 2013, more likely January 2014. Hollande was talking about early next year and his partners told him it wouldn't be possible.

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