Why EU FTT hitting cross-border transactions might not be so bad
20 January 2012
Salman Shaheen - ITR
The Alternative Investment Management Association (AIMA) believes the European Commission’s proposed financial transactions tax (FTT) could lead to a significant decrease in cross-border trading of financial instruments. But there are some who think this is exactly why the EU needs one.
While the Commission’s proposals face staunch opposition from some countries such as the UK, French and German support for the new tax means that it is likely to be implemented in at least a few European countries.
AIMA, however, has warned that the FTT would cause a significant slowdown in trading of financial instruments like shares, bonds and derivatives in the EU.
“Our analysis concludes that the EU’s proposed financial transaction tax will reduce or eliminate a vast amount of cross-border...
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