Wall Street Tax: 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 stock market trading, which may affect the costs of investing and speculation. The tax will be paid by exchanges or brokers, and in some cases directly by the buyer or seller.
Key points
Introduction of a 0.1% tax on the value of most buying and selling transactions of stocks, bonds, and derivatives.
The tax applies to transactions on U.S. exchanges and transactions involving a U.S. person or entity.
Exceptions include initial issuances of securities and certain short-term debt instruments.
The tax is to be paid by exchanges, brokers, or directly by the parties to the transaction, depending on its type.
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