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Sweden had such a tax. What happened?
by wbl 10y ago
Sweden had such a tax. What happened?
- Animats 10y ago"By 1990, more than 50% of all Swedish trading had moved to London." - Wikipedia. But the Swedish tax was 10x higher and Sweden didn't have large stock markets.
- Tomte 10y agoEven more, the EU is taking the American approach to taxing there ("if you're American you're paying, regardless where you're living"): Banks with headquarters in the EU have to pay the tax, even if the transactions are done in Somalia. Every transaction in European stocks is taxed, even if done in Afghanistan.
- genericpseudo 10y agoWell, then, the banks will move.
- Tomte 10y agoDoesn't help. As long as European stocks are being traded the transactions are taxed.
- genericpseudo 10y agoExpect the listings to move to NASDAQ. A bunch of European companies have primary listings there already.
- claudius 10y agoSomalian banks tend not to have passporting access rights to the EU market.