Abstract
Why would anyone in Australia advocate the introduction of another tax? Australia already has a complex range of taxes and the last thing most Australians would say they need is yet another tax. Despite this, this paper is proposing a tax, called the Tobin tax, be imposed on foreign currency transactions. The aim of a Tobin tax is to actively distort resources away from speculative currency dealing by imposing a small flat tax on all currency trading. The success of the tax would be measured not by how much revenue it raises but by how little revenue it raises.
| Original language | English |
|---|---|
| Number of pages | 9 |
| Journal | Journal of the Australasian Tax Teachers Association |
| Publication status | Published - 2005 |
Keywords
- foreign exchange
- taxation
- foreign exchange futures
- Australia
- Tobin tax