Securities Transaction Taxes: Literature and Key Issues

Anna Pomeranets ()
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Anna Pomeranets: Bank of Canada

Chapter 66 in Encyclopedia of Finance, 2022, pp 1531-1539 from Springer

Abstract: Abstract The main scope of this chapter is to review the literature and key issues associated with securities transaction taxes (STTs). Despite the use of STTs around the globe, the theoretical and empirical literature on the impact an STT has on liquidity and volatility is mixed. If an STT is not appropriately designed, it could interfere with the smooth functioning of financial markets, lead to informational inefficiency, arbitrage, tax evasion and double taxation. Effective implementation of STTs therefore requires cross-jurisdictional coordination, controls on cross-border transactions and carefully constructed enforcement.

Keywords: Tobin tax; Transaction costs; Transaction tax; Transfer tax; Volatility (search for similar items in EconPapers)
Date: 2022
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DOI: 10.1007/978-3-030-91231-4_66

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