Singapore financial transaction tax9/25/2023 That means in total 0.225% per year in costs. Add to that at least 0.25% more in costs involving the actual buying and selling (the invisible cost due to less liquidity, but still a proven scientific fact). ![]() Let’s do a simple calculation of what this will mean for your pension: if all your pension is placed in the stock market (all pension funds has a substantial part in the stock market), and the fund turns the portfolio 0.5 times a year, this means 0.1% in costs per year. That in turn will have a much bigger impact on the costs than the tax itself. ![]() There will be fewer buyers and sellers (the tax increases the costs and thus more risks involved). A Financial Transaction Tax means less for pensions When you buy you have to pay more (than without a tax) and when you sell you receive less because of less liquidity. A tax on transactions will also mean a lot less liquidity in the market. Indirectly you pay this tax through your future pension. 01% on derivatives?īear in mind this will be paid by every transaction either you make money or lose. ![]() Secondly, isn’t the tax just a proposed minuscule 0.1% on stock trades and. The Financial Transaction Tax is not minuscule Anyone telling you otherwise is not telling the truth. Of course, all costs in doing business will be borne by the end-user/consumer. The politicians have tried to camouflage this as a banking tax, but it will be paid by everyone doing financial transactions. Everyone has to pay the tax, both you and me and the banks. So let’s look at it more deeply: The Financial Transaction Tax is not a banking taxįirst of all, this is not a banking tax. That’s easy to understand since hardly anyone understands how far-reaching and destructive this tax is. The ramifications of a financial transaction tax (FTT)Ī financial transaction tax (FTT) is very popular among the public.
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |