The Securities Industry and Financial Markets Association (SIFMA) released a statement after Representative Tom Price introduced legislation that would make it clear that foreign governments have no ability or right to tax private securities transactions within the US.
Kenneth E Bentsen, Jr, executive vice president for public policy and advocacy:
“Congressman Price has taken a leadership role in addressing the inappropriate extraterritorial application of the French financial transaction tax on US investors. Across Europe, many countries are beginning to implement or are considering implementing financial transactions taxes. What taxes a nation chooses to impose on its citizens is a matter of domestic policy, but imposing such a tax externally on non-citizens operating outside that nation's boundaries is another matter. Congressman Price's legislation seeks to address this inappropriate extraterritorial tax.”
Press release
© SIFMA - Securities Industry and Financial Markets Association
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