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During a press conference on 30 January 2012, French Prime Minister F. Fillion gave following information concerning financial transactions tax “à la française” announced by President Sarkozy and which could come into force from 1 August 2012.
The bill featuring this tax will be submitted to the Council of Ministers on Wednesday, February 8.
The considered tax on financial transactions would be applicable to all transfers of shares listed on Paris stock exchange, regardless of the localization of the purchaser or seller and of the place of transaction (regulated markets, alternative platforms, OTC transactions).
The rate of the considered tax would be identical to the rate provided in the EU draft directive adopted by the European Commission (COM(2011) 594 final) that is to say 0.1 %.
However, the French version of the considered tax provides several exceptions, such as:
Another specificity of the considered tax is the creation of a specific tax on:
The considered tax is expected to generate a billion Euros of revenue per year during a full year.
Stéphane Austry, partner
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