Financial Transaction Tax

News & Analysis as of

Blog: Council of the European Union publishes a “State of play” on the European Tobin Tax

The Council of the European Union has published a “State of play” on the Commission’s proposal for a Directive on enhanced cooperation on a financial transaction tax (FTT), between Austria, Belgium, France, Germany, Greece,...more

Digital Tax Update – Local Edition

After the highly publicized administrative lease transaction and amusement tax expansions in Chicago last year, more cities around the country are taking steps to impose transaction taxes on the sale or rental of digital...more

Brexit: Overview of Potential Impact on Derivatives

The process of Brexit will take many years, and the implications for our clients’ businesses will unfold over time. Our MoFo Brexit Task Force is coordinating Brexit-related legal analysis across all of our offices, and...more

UK Financial Regulatory Developments - July 2016 #2

FOS publishes Ombudsman News - The May/June issue of Ombudsman News highlights the breadth of “everyday problems” which FOS sees so that consumers and financial businesses can better understand the service’s role. It...more

Blog: Council of the European Union publishes a state of play update on the European Tobin Tax

The Council of the European Union has published a “State of play” document on the Commission’s proposal for a Directive on enhanced co-operation on financial transaction taxes, between Austria, Belgium, France, Germany,...more

Potential tax consequences of Brexit from a German perspective

On 23 June, the UK is holding a referendum to decide whether it should leave or remain in the European Union. A vote to leave the EU (the so-called Brexit) would not only have repercussions from a tax perspective for the UK....more

Navigating the Louisiana Legislature's New Sales and Use Tax Labyrinth

Not even Daedalus could have constructed a labyrinth more complex than the new sales and use tax laws that the Louisiana Legislature adopted in the 2016 First Extraordinary Session that ended on March 9, 2016. Perhaps on a...more

The “State of Play” of the European Financial Transaction Tax: European Council Meeting, 8 December 2015

On 3 December 2015 the Luxembourg President of the Council of the European Union released a “state of play” announcement on the progress made during the course of this year by the ten European Union participating member...more

Tax Policy Update

NUMBER OF THE WEEK: 10 percent. Rate of the one-time deemed repatriation tax on U.S. multinationals’ foreign earnings under GOP presidential candidate Donald Trump’s tax plan released Sept. 28. The revenue raised through...more

Dodd-Frank at 4: Where do we go from here?

Where do we go from here? As we mark another milestone in regulatory reform with the fourth anniversary of the enactment of the Dodd-Frank Act, it strikes us that although most studies required to be undertaken by the Act...more

Financial Services Quarterly Report - Second Quarter 2015: Is the Long Wait Worth it? European Long-Term Investment Funds (ELTIFs)...

The long-awaited European regulation on European long-term investment funds (ELTIF Regulation) was finally published in the Official Journal of the EU on May 19, 2015. The ELTIF Regulation will offer fund managers a new label...more

A Guide to the UK Disguised Investment Management Fee Rules

New rules effective from today in the U.K. are likely to have material impact on the tax treatment of payments by a fund to its U.K.-based management executives and service providers. The rules cover many areas of fund...more

Update on the EU's Proposed Financial Transactions Tax

The Court of Justice of the European Union (CJEU) recently issued a decision rejecting the UK government’s initial legal challenge against the proposed introduction of a financial transactions tax (FTT) in Europe. The...more

UK’s financial transaction tax challenge – mission accomplished

The UK was challenging the legality of the decision taken by the Council of the European Union to authorise the enhanced cooperation procedure (ECP) to establish an FTT for a subgroup of willing Member States. The UK, and a...more

"European Court Rejects UK’s Financial Transaction Tax Challenge"

U.K.’s challenge to the proposed financial transaction tax (FTT), while recognizing that the U.K.’s challenge was precautionary — and possibly premature. The U.K. was challenging the European Council’s Decision...more

Key issues for asset managers in 2014

In this newsletter - U.S.: - Dodd-Frank Act – Designation of asset managers as systemically important financial institutions - Volcker Rule finalised with a more limited application to covered fund activities...more

UK House of Lords EU Committee Report on European Commission’s Financial Transaction Tax Proposals

On December 10, the UK House of Lords EU Sub-Committee on Economic and Financial Affairs published a follow-up report to its March 2012 report on the European Commission’s proposals for a financial transaction tax (FTT)....more

Update on UK and European Regulatory Developments - October 2013

The latest edition of Financial Services Europe and International Update from Dechert’s Financial Services Practice covers the most recent regulatory developments. In This Issue: - Part A – Regulation of Financial...more

Under Construction - September 2013: Arizona Contractors and Design Professionals Receive Additional Protections Under Arizona’s...

For good reason, much of the focus for Arizona contractors during the recently-concluded legislative session was on transaction privilege tax (TPT) reform. That bill, HB 2111, was ultimately signed by the Governor, but only...more

EU Institutions in Public Disagreement over the Legality of the Financial Transaction Tax

Lawyers for the European Commission and EU member states are in public disagreement over the legality of the FTT. A leaked legal opinion produced by the EU Council’s legal service alleged that the FTT was both incompatible...more

"European Council’s Lawyers Opine That Proposed EU Financial Transaction Tax Is Unlawful"

The European Council Legal Service has issued an opinion that seriously questions the legal validity of the European Commission’s proposals for a financial transaction tax (FTT). The opinion finds that the extraterritorial...more

Orrick's Derivatives in Review - August 2013

Featured in this month's edition: - "U.S. Person" Definitions Under the Final Exemptive Order and the Final Guidance, Application to Certain Foreign Branches, and Determination for Collective Investment Vehicles -...more

Financial Regulatory Update - June 2013

This newsletter provides an overview of some of the main financial services regulatory developments in the UK and EU from the period 1 January 2013 to 1 June 2013. Banking and Prudential Supervision Basel 3/Capital...more

Orrick's Derivatives in Review - June 11,2013

The Derivatives in Review highlights important legal, regulatory and other newsworthy developments in the area of derivatives....more

Tax Talk -- Volume 6, No. 1 -- April 2013

In This Issue: House Ways & Means Committee Proposal Would Require Mark-to-Market for Derivatives and Modify Certain Other Tax Rules; After Months of Anticipation, Final FATCA Regulations Released; Congress Considers...more

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