A new system of taxation on financial transactions, called « raider tax », or against speculative phenomena, to replace the "Tobin tax". It is a proposal under discussion in the Senate.
In the Senate, in the Finance Committee, the debut of this proposal which intends to extend the taxation on financial transactions:
- 1) of purchase
- 2) sales
- 3) in derivatives
- 4) high frequency
- 5) in virtual currencies
- 6) on capital gains from virtual currencies
- 7) on capital gains on government securities with a residual life of more than half of the agreed maturity.
The tax on financial transactions, the so-called Tobin tax (from the name of the Nobel laureate in economics who was the first to propose it) was introduced here with the 2013 stability law (Monti government) and applies only to transfer of ownership only of equity securities and equity financial instruments issued by companies resident in the State and therefore to a small number of securities transacted and to a tax base which decreases with the increase in securities sold.
Therefore, the aim of the bill that this week begins the process in commission is to expand the tax base and the category of securities to be subjected to taxation, to try to counter speculative conduct, to encourage investments in the permanent capital of companies and public administrations, support economic development. In fact, it is established that a portion of the increased revenue deriving from the new provisions flows into a Fund for interventions aimed at promoting the development of innovative technologies for companies listed on regulated markets.
