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.
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.
So, let me get this straight... a 100 share trade in APPL @ $200 will cost me $50 per side? 200. x 100 = $20,000 X 0.0025=50! No problem, I'll make it up in liquidity rebates NOT! There won't be any liquidity. MORONS
The derivatives tax was abolished this year, also know as CTT in India. http://in.reuters.com/article/domesticNews/idINBOM54634420090706
Are you referring to the language in HR 1068 or somewhere else? If somewhere else do you have a link?
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.
The US authorities can't even agree on a politically EASY short sale uptick rule. <Yawn? A tax on transactions puts Wall Street out of business... All trading moves to other countries... Lower Manhattan is taken over by 100,000 junkies again. It will never happen.
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.