Monday, September 9, 2013

Big Gov scrapping for anywhere it can find money

Another sign of the times. Since the "financial industry" aka the business of printing, is the "powerhouse" of business activity, might as well tax it. ___________________________________________________________________________________________________________

Interactive Brokers would like to inform clients of the Italian Financial Transaction Tax (IFTT) which comes into force on derivatives 1 September 2013. Key information regarding the tax is provided below

Tax Rate: Varies based on the value of the transaction and the product traded, ranges between .00375 to 200 EUR per trade

Tax Base: The tax is assessed to both the buyer and the seller of the derivative. Unlike the IFTT on stocks which was implemented in early 2013 there is no benefit for netted positions during the day

Effective Date: The IFTT will be applied to trades of 2 September 2013

The following link provides additional information on the IFTT: link

Interactive Brokers Customer Service

Message Reference Number: 9529136, Sent Date: 2013.08.30 11:34:24 -0400

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Insightful and Useful Comment!