Italy introduces high-frequency tax
Levy aims to draw benefits from speculation02 September, 14:49
(ANSA) - Rome, September 2 - A new tax on high-frequency and equity derivative trades introduced in Italy on Monday could "further damage liquidity in the country," the Financial Times said. The tax aims to draw fiscal benefits from speculation and will apply a 0.02% levy only on certain types of high-volume trades.
It is the second stage of a process started earlier in 2013 to tax financial transactions in Italy and will apply regardless of where the transaction is executed.
The levy follows an introductory scheme launched in March taxing both exchange-based and over-the-counter share trading.