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Transaction tax is favourable to bank tax according to WIFO
According to WIFO (Institute of economic research Austria) a financial transaction tax (TT) is favourable to a bank tax (BT) on multiple grounds.
Transaction tax is favourable to bank tax according to WIFO / Picture: © Vindobona.org
Transaction taxes depict much wider measuring means caused by the higher number of incidents or volume.
A bank tax on the other hand cannot confine short term speculative attacks. since it regulates holdings of financial instruments but not transactions with or through them.
Moreover a simple bank tax also affects real economic transactions such as real investments of…
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