The Case for a Global Financial Transaction Tax

An internationally coordinated carbon tax could raise 250 billion annually, while a small financial transaction tax could raise another 40 billion.

0 Financial and tax law

It is in this context that German Foreign Minister Frank Walter Steinmeier and I have advanced our proposal for a global financial transaction tax (FTT).

The draft law establishes under what circumstances a financial transaction is subject to special oversight (in other words, is considered a suspicious financial transaction ).

All financial obligations to the transaction have been fully implemented.

AMLO has received some suspicious transaction reports from financial institutions.

Financial depreciation for tax and published accounts

The Financial Intelligence Unit also initiates its own analysis of financial transaction reports and disseminates financial intelligence assessments to relevant authorities.

There is neither financial nor tax support for it.

There is neither financial nor tax support for it.

Financial viability Risk assessment telecommunication, political situation, tax system,...

When tax evasion is extremely common, taxpayers are likely to experience high transaction and psychological costs in resorting to tax auditors to enforce the issuing of receipts.

The third aim could be achieved country by country, but it is certainly arguable that an across the board banking levy, or a Europe wide financial transaction tax, would eliminate competitive distortions.

According to the Anti Money Laundering Act B.E. 2542 (1999), there are 3 kinds of financial transactions that financial institutions have the legal obligation to report to the Anti Money Laundering Office (AMLO), namely 1) cash transaction reports, 2) properties transaction reports and 3) suspicious transaction reports.

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The entire international transaction may be seen as involving Commercial, Regulatory, Logistical and Financial processes.

Organisation of a workshop on Currency Transaction Tax together with the Southern Africa Alliance of the Catholic Bishops Conference (SACBC).

Previous positions include head of the committee reviewing tax law Assistant to the Director, Income Tax Department and head of Income Tax Section, Financial Affairs Department.

A deeper and more efficient financial sector would also reduce transaction costs and facilitate risk management.

This process is determined by rules of supply and demand, price, investment and financial transaction liberalization.

The emotional appeal of a tax on all financial transactions is undeniable.

Know your customer policy Customer transaction profile Information on cash transaction Information on foreign currency transaction

Transaction Publishers.

Transaction, 2009.

Split transaction

Adjustment transaction

Select Transaction

Split Transaction

Imported Transaction

Investment transaction

Find transaction...

Transaction report

Delete transaction

Transaction amount

Any transaction

Valid transaction

Invalid transaction

Processing Transaction

Erroneous transaction

Imported transaction

Matched transaction

Transaction Matching