Financial Transaction Tax and Investment Funds: An Analysis of Key Factors and Their Impact on Performance

Eberhartinger, Eva and Said Formosa, Carmel (2015) Financial Transaction Tax and Investment Funds: An Analysis of Key Factors and Their Impact on Performance. WU International Taxation Research Paper Series, 2015-20. WU Vienna University of Economics and Business, Universität Wien, Vienna.


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Using retrospective data analysis, this paper looks at the potential effects that the EU financial transaction tax would have on registered Austrian funds. We use original data for 927 investment funds over a 12-month trading period covering the 2014 calendar year. We analyse its effect on total net assets and on performance. We find that the cost of FTT on Austrian funds for 2014 would be Euro 89.5 million. The effect of FTT differs between funds and is influenced by fund category, gilt-edged securities held, risk and investment strategy. Behavioural changes in the market would likely arise in these areas if FTT were to be introduced. (authors' abstract)

Item Type: Paper
Additional Information: Editors: Eva Eberhartinger, Michael Lang, Rupert Sausgruber and Martin Zagler (Vienna University of Economics and Business), and Erich Kirchler (University of Vienna)
Keywords: FTT / Transaction tax / Investment funds / Investment strategies / Kreditmarkt / Verkehrssteuer / Regulierung / Investmentfonds
Classification Codes: RVK QL 642, QK 530
Divisions: Departments > Finance, Accounting and Statistics > Accounting and Auditing > Betriebswirtschaftliche Steuerlehre
Departments > Öffentliches Recht und Steuerrecht > Österr. und Internat. Steuerrecht
Forschungsinstitute > Internationale Besteuerung
Depositing User: Elena Simukovic
Date Deposited: 09 Jun 2015 15:23
Last Modified: 22 Oct 2019 00:41
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