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Questions also arise as to the use of the revenue yielded by an FTT. Fundamentally, what is the revenue to be used for?
That said, the notional value of derivatives is enormous, which allows an FTT on derivatives to be very, very small: The Sanders plan, for example, taxes derivatives at a minuscule 0.005 percent--about a nickel per thousand dollars.
The motivation for the FTT is based on two claims about the tax.
For more information or to schedule an interview with Tammy Riggin about the Lake Region State College online FTT program, contact Amber at 701-630-5433 or email amber@alnmedia.com.
The FTT is a minority legislative club of which only 11 of the EU's 28 states are signed up to!
Concerns have been raised that British financial institutions engaging in transactions with those in the participating EU member states would be liable to pay the FTT, which would then have to be collected by the UK tax authorities.
The 11 ministers debated two key questions that they will re-examine outside the 11 March Ecofin: Should the scope of the FTT initially be limited to shares, extending it later to bonds and derivatives?
Two councillors led a motion to call on the Government to enact the Financial Transaction Tax (FTT) and use money raised to boost council revenue.
The findings were rejected by the European Commission, which drafted the proposal for the financial transaction tax (FTT) as the bloc's executive.
The UK has already said it would not sign up to the EU's FTT plans, which would tax certain financial transactions at a rate of between 0.01% and 0.1%, and (http://www.ibtimes.co.uk/articles/459819/20130422/financial-transactions-tax-tobin-eu-george-osborne.htm) has started a legal challenge at the EU Court of Justice over fears it could hit British banks trading with European colleagues.
In August 1993, Taiwanese embossed hologram producer Fong Teng Technology (FTT)was opening a new production plant to replace its premises destroyed by fire in 1992.