FTT not going away, Asian investors warned
Some form of the financial transaction tax being debated in Europe will come into force, but what the final rules will look like is still unclear, and a decision is some way off.
Asian institutions and fund houses should not be complacent about incoming European tax rules, despite leaders there failing to reach consensus on the financial transaction tax (FTT) initiative.
According to FTT proposals, Asian fund houses buying or selling European securities or dealing with a European broker will eventually face unspecified fees from countries implementing the rules. So far 11 member states have expressed interest.
Although nothing has been put into practice …
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