Financial Transaction Taxes Dissertation Example | Topics and Well Written Essays - 2500 words

fiscal Transaction Taxes - Dissertation ExampleResearch propound by Economic & Financial Policies Directorate, Ministry for EU Affairs, Turkey (Economic & Financial Policies Directorate, July 2012. FinansalIslem Vergilerive Avrupa BirligiUygulamas?. Ankara, Turkey) Useful information about taxation. Statistical references to ad hoc issues. Research report by Ernst & Young LLP (Tax Policy Services, April 2012. Financial Transaction Tax, Which way now? London, United Kingdom) Useful for the brain the current situation of the holistic structure of fiscal taxes in EU. http//www.gib.gov.tr (2012) This website was searched throughout to gain a deeper sense of Turkish Tax System II - INTRODUCTION A financial transaction tax (FTT) is a tax placed on a specific type of financial transaction for a specific purpose. This term is most commonly associated with the financial sector. (HM Revenue & Customs, 2001)By any name, financial transaction tax is a fee paid any time by an individual or a company buys or sells a share of stock, any type of security, a futures contract, an options contract, or any of the commonly traded financial instruments. In recent times, the term FTT has been used to refer to the proposed bill Let Financial Market Pay for the income tax return of Real Market Bill. ... In this project, types of FTT researched will give information about implemented and proposed FTTs including expanse samples and political support with evaluation. III - HISTORY OF FINANCIAL TRANSACTION TAXES As it is known from the history of economics, financial implementations and investigations are always started in countries which see their future earlier than their economy go into the crash. In 1694, an ahead of time implementation of a financial transaction tax in the form of astamp tradingat theLondon Stock Exchange. The tax was payable by the buyer of shares for the official stamp on the legal document needed to formalize the purchase. As of 2011, it is the oldest tax still in existence in Great Britain (Kincaid, 2009). In 1936, in the wake of theGreat Depression,John Maynard Keynesadvocated the wider use of financial transaction taxes (Wishart, 2012). Essentially, original tax proposal for the financial sector was put forward by Keynes. He assimilated markets that are prevail by speculation to casino. He asserted that long-term stability could be provided by taxation on security transactions. Keynes indicated that taxation on security transactions would decrease speculation and provide an powerful distribution of resources in the market with right price level. In 1972, theBretton Woods systemfor change currencies efficaciously came to an end. In that context, James Tobin, influenced by the work of Keynes, suggested his more specificcurrency transaction taxfor stabilizing currencies on a larger global scale (Tobin, 1993) In 1989, Edgar Feige generalized the ideas of Keynes and Tobin by proposing a teeny flat rate tax on all transactions (Wi shart, 2012). In December 1994,the economic crisis in Mexicoand 1997 Asia Crisis