The document discusses the Financial Transaction Tax (FTT) proposal, which would apply to financial institutions such as investment firms, trading platforms, insurance companies, and others. It outlines exceptions, territorial reach, and the calculation and payment process of the FTT. The proposal aims to prevent relocation of trading activities by applying the 'issuance principle' to securities issued in participating states. The document also highlights the difference between headline and effective costs due to the 'cascade effect' of the tax.
doj/DataSet10/EFTA01449313.pdf
{"title":"Exchange Rate Perspectives: FX and the Financial Transaction Tax","document_date":"2013-07-30","document_type":"financial","document_subtype":"report","key_organizations":["European Commission","Deutsche Bank Securities Inc."],"reference_numbers":["DB-SDNY-0104664","SDNY_GM_00250848","EFTA01449313"]}