Recebi aviso do SaxoBank que vão passar a cobrar este imposto (0,02%) a partir de Agosto, French Financial Transaction Tax (FTT), na compra de opcções, acções e obrigações convertíveis.
Alguém recebeu algum aviso de outros brokers ?
Thanks
Para todos os activos ou só franceses?
Só Franceses. E querem incluir os ADRs de cotadas francesas.
French Financial Transaction Tax on Equities
Effective 1 August 2012 a French Financial Transaction Tax (FTT) will apply when trading designated French equities. Clients interested in trading French Stocks with Saxo Bank will be affected by the new transaction tax.
The FTT law was introduced on 14 March 2012 (read more on
www.tresor.economie.gouv.fr) and an application decree on the practical implementation of the law was issued 14 July 2012.
There are some ambiguities between the wording of the law and the issued guidelines, minor adjustments may be expected before and after the effective date.
Below is a description of the practical implications of the FTT on trading French equities with Saxo Bank.
What Securities are affected by the new tax?
About 100 French large-cap stocks are affected by the FTT. See a full list of the companies in the application decree.
What trades will be taxed?
Buys (not sells) for valuable consideration. A taxable acquisition may also arise from the exercise of an option or of a convertible bond conversion. (Acquiring the convertible bond is at present exempt)
The FTT applies regardless of where the transaction takes place.
What about corporate actions?
If the corporate action entails an acquisition of shares subject to payment, this acquisition is taxable.
If the corporate action entails a new issue of shares by the company (capital increase), this is not taxable.
If the corporate action gives the right to receive free shares, the tax does not apply.
How is equity trading with Saxo Bank affected?
Saxo Bank will collect 0.20% tax on the booking of Stock buy trades that fall under the French FTT regulation.
Saxo Bank will not apply any exceptions to the FTT. This means Saxo Bank will collect and pay the FTT on all buy trades without netting long and short intra-day trades.
Recent developments
The French government announced on 4 July that the FTT rate will be raised from the initially proposed 0.10% to 0.20%, though this still needs to be ratified by the Parliament.
The securities that are affected by the FTT may be increased to include ADRs (American Depository Reciepts) issued by the affected companies although the practical consequence of taxing domestic US activity makes it unlikely to go into effect.
According to the scope of the law, CFDs are not included in the FTT.
Please visit the French Treasury Department's website:
www.tresor.economie.gouv.fr (in french) for more information. Prior to the effective date Saxo Bank will update
www.saxobank.com to reflect the introduction of the FTT.
As there are still outstanding issues we advise our clients that have an interest in trading French equities to keep up to date with the implementation of the FTT - before and after 1 August.
