Tobin Tax
- A Tobin tax is levied on the international flow of short-term capital or hot money which are very speculative. The aim of a Tobin tax was to generate stability in currency markets.
- The Tobin tax proposed by James Tobin in 1972 in the form of a currency transaction tax.
- India has a variant of the Tobin tax called the Securities Transaction Tax (STT).
- It was introduced in 2004 and is levied on every transaction of securities listed on the stock exchanges and mutual ....
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