ACI - The Financial Markets Association: ACI's concerns on FTT Europe
(Thomson Reuters ONE) -
Paris, April 5, 2012
ACI- The Financial Markets Association Europe on the Financial Tax Transaction
Following a General European Meeting in Dubai on March 21, ACI-Europe members
reaffirm the dangers of the implementation of a Tax levied on each transaction
as is planned by the EC.
Member states in Europe are concerned by the fact that such a tax would alter
the level playing field between countries, unless it is applied globally, and
therefore increase fiscal arbitrage opportunities between countries rather than
move towards a European harmonisation.
Furthermore, the tax would also be transferred to end-users as it would oblige
market-makers to increase their bid-offer spreads in order to pay for the tax
percentage.
This would mainly target corporate, pension funds and other hedging clients who
do not enter into such transaction for speculative, but for hedging purposes.
ACI Europe insists that other alternatives have to be found, that maintain the
level playing field between countries, and that do not hit the end-user of the
financial product.
europeanpresident(at)aciforex.org
ACI The Financial Markets Association
Europe
8, Rue du Mail / F-75 002 Paris
ACI The Financial Markets Association
ACI is a non-profit, but also non-political association of wholesales financial
market professionals. Members of ACI are in large part engaged with the
financial trading or sales environment in the global financial markets.
ACI counts some 13,000 members from 60 countries.
ACI Europe members are : Austria, Belgium, Bulgaria, Chanel Islands, Croatia,
Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary,
Iceland, Ireland, Israel, Italy, Luxemburg, Macedonia, Malta, Monaco,
Netherlands, Norway, Poland, Portugal, Romania, Russia, Serbia, Slovakia,
Slovenia, Spain, Sweden, Switzerland, United Kingdom.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: ACI - The Financial Markets Association via Thomson Reuters ONE
[HUG#1600476]
Unternehmensinformation / Kurzprofil:
Datum: 05.04.2012 - 12:19 Uhr
Sprache: Deutsch
News-ID 132569
Anzahl Zeichen: 2741
contact information:
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Kategorie:
Business News
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