UK election puts the financial transaction tax on the agenda

International Tax Review

By Josh White

The UK financial sector could face a financial transaction tax (FTT) among a raft of tax reforms if the Labour Party wins the upcoming snap general election. The UK has an SDRT rate of 0.5% on share trading, which raised £3.5 billion ($4.5 billion) in 2017/18. Labour’s proposal would expand this to include transactions involving corporate bonds, equity and credit derivatives, raising an extra £2.1 billion in annual tax revenues.

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By Josh White, posted on Wednesday October 30, 2019
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