Wall Street Tax Act: New Fees on Securities Trading Transactions
This act introduces a new 0.1% tax on most buying and selling transactions of securities, such as stocks, bonds, and derivatives. The aim is to tax Wall Street trading, which may affect the costs of investing and saving for citizens who use financial markets.
Key points
Introduction of a 0.1% tax on the value of most buying and selling transactions of stocks, bonds, and derivatives.
The tax will apply to transactions executed on U.S. exchanges or by U.S. persons and entities.
Exceptions to the tax include initial issuances of securities and certain short-term debt instruments.
The tax is to be paid by exchanges, brokers, or directly by buyers/sellers, depending on the transaction type.
The changes will take effect after December 31, 2021.
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