The Resource The value of a financial transactions tax in New Zealand

The value of a financial transactions tax in New Zealand

Label
The value of a financial transactions tax in New Zealand
Title
The value of a financial transactions tax in New Zealand
Creator
Subject
Language
eng
Summary
In the aftermath of the 2007-2008 global financial crisis, nations have set out to find a way to restrain their financial sectors and prevent future crises. One idea that has received considerable attention is adoption of a financial transaction tax (FTT). This has led some to call for such a tax to be implemented in New Zealand. Despite substantial international debate, and calls by three political parties for an FTT during the 2014 election, information about how an FTT would function in New Zealand is limited. This article evaluates the potential impact and effectiveness of an FTT in New Zealand. Estimates of potential revenue for taxes on securities and currency trading, and a more comprehensive bank transaction tax, are calculated to evaluate the revenue claims of proponents of an FTT. Overall, the authors find that an FTT could be implemented, but is unlikely to meet the revenue claims of its supporters. Moreover, an FTT is likely to have a detrimental impact on economic efficiency, growth and equity
Citation source
In: New Zealand journal of taxation law and policy. - Wellington. - Vol. 21 (2015),
http://library.link/vocab/creatorName
  • Hobbs, D
  • Marriott, L
Language note
English
http://library.link/vocab/subjectName
  • financial transaction tax
  • tax revenues
Label
The value of a financial transactions tax in New Zealand
Instantiates
Publication
Label
The value of a financial transactions tax in New Zealand
Publication

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