Tobin tax


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Tobin tax

(ˈtəʊbɪn)
n
(Economics) a proposed tax on foreign-exchange transactions intended to discourage destabilizing speculation while also raising large revenues that could be channelled to the developing world
[late C20: after James Tobin (1918–2002), US economist who proposed it]
References in periodicals archive ?
They can be truly radical - like the Tobin tax - as well, as long as they are also credible and inspiring.
So when you are looking at things like a tax on bankers' bonuses, a tax on currency transactions - the so-called Tobin tax - or looking at cracking down on tax avoidance or evasion, actually the EU is going far further than the British government is.
Called the Tobin tax, the levy might be suspended indefinitely after a cabinet meeting in May in order to stimulate the economy, it is expected that the move would encourage foreign investors to re-enter the Italian market.
But it is also contemplating other macro-prudential instruments, such as a kind of Tobin tax, the levy on financial transactions first suggested in 1972 by the Nobel laureate economist James Tobin, in order to discourage volatile capital flows.
Although the FTT is connected to and understood as a Tobin tax in most cases, several different tax instruments are generally referred to as "financial transaction taxes.
The initial rate of the forex levy - nicknamed the Tobin tax after Nobel laureate James Tobin - may be kept at zero while authorities fine-tune the rules, according to sources familiar with the matter who spoke to (http://www.
14), appears to share the views of some Middlesbrough councillors in referring to the Robin Hood Tax aka the Tobin Tax.
A Tobin tax imposes a small charge on individual currency transactions to discourage excessive speculation.
A Tobin tax, even a small one, would have large effects on stock values.
French President Francois Hollande supported the so-called Tobin tax in his presidential election campaign, but has seen his Finance Minister, Pierre Moscovici, break ranks on the issue.
SeeNews) - May 10, 2013 - If the Tobin tax on financial transaction is introduced in its currently proposed form, it would cost Belgian bank Dexia EUR 700 million (USD 910.