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Regulating the Financial Industry through Taxation Intended and Unintended Consequences of the Financial Transaction Tax

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dc.contributor.authorAllevato, Giulio
dc.contributor.authorDe Vito, Antonio
dc.contributor.rorhttps://ror.org/02jjdwm75
dc.date.accessioned2024-11-28T17:27:56Z
dc.date.available2024-11-28T17:27:56Z
dc.date.issued2020-09
dc.description.abstractThis paper examines regulatory taxes as an alternative to regulating the financial industry to address negative externalities in financial markets. We review the theory on financial transaction taxes and provide an analysis on the economic consequences of such taxes. We argue that the implementation of the FTT could trigger significant increases in the cost of capital for firms as well as relocation and substitution risks, with detrimental effects on investment and economic growth. We furthermore analyze the challenges for the regulator to design and implement financial transaction taxes, while paying attention the current state of the art within the EU and in Spain. In this respect, we put forward that care should be taken when enacting financial regulatory taxes, especially when EU member countries implement such taxes unilaterally without a coordinated agreement.
dc.description.peerreviewedyes
dc.description.statusPublished
dc.formatapplication/pdf
dc.identifier.citationAllevato, G., & De Vito, A. (2020). Regulating the financial industry through taxation: Consequences of the financial transaction tax. Funcas SEFO, 9(5), 71-78.
dc.identifier.urihttps://hdl.handle.net/20.500.14417/3388
dc.issue.number5
dc.journal.titleSEFO, Spanish and International Economic & Financial Outlook
dc.language.isoen
dc.page.total7
dc.relation.departmentTax Law & Economic Regulation
dc.relation.entityIE University
dc.relation.schoolIE Law School
dc.rightsAttribution 4.0 International
dc.rights.accessRightsinfo:eu-repo/semantics/openAccess
dc.rights.urihttps://creativecommons.org/licenses/by/4.0/
dc.subject.keywordBanks
dc.subject.keywordRegulatory taxes
dc.subject.keywordFinancial transaction tax
dc.subject.keywordRegulation
dc.titleRegulating the Financial Industry through Taxation Intended and Unintended Consequences of the Financial Transaction Tax
dc.typeinfo:eu-repo/semantics/article
dc.version.typeinfo:eu-repo/semantics/acceptedVersion
dc.volume.number9
dspace.entity.typePublication
relation.isAuthorOfPublication1f750c9b-d6f6-4abe-8ce1-5d9659c5742c
relation.isAuthorOfPublication8af307ca-1d75-4ed1-b43a-b06997510ff9
relation.isAuthorOfPublication.latestForDiscovery1f750c9b-d6f6-4abe-8ce1-5d9659c5742c
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