When the new financial transaction tax takes effect in France on 1 August, SIX Financial Information customers will be ready to comply.
As international financial institutions ready themselves for the impending French financial transaction tax, SIX Financial Information is pleased to announce the availability of data to support compliance with the new regulation.
Certain transactions regulated under the French Monetary and Financial Code that confer ownership of equity securities or otherwise grant access to capital or voting rights are considered in-scope, and include securities issued under foreign law. Specifically, the tax will apply to:
As a provider of consolidated global securities information, SIX Financial Information already delivers a broad range of tax and regulatory data, including information related to taxes in force in Switzerland/Liechtenstein, the US, the UK etc. as well as such cross-border regulations as MiFID, Swiss – EU Saving Tax Directives, UCITS and more, and the company’s extensible database structure is already available to process forthcoming French tax information.
“The new French transaction tax is the first of an expected wave of such euro zone taxes, but it is certainly not the first of its kind”, said Dirk Sebald, Head of Product Management & Marketing of SIX Financial Information. “We have been a trusted provider of national and cross-border taxation data for many years, and our 80+ years’ experience collecting and processing information on global securities has earned us unmatched expertise in this area.”
SIX Financial Information recently obtained the list of in-scope companies from the French Ministry of Finance and is providing an initial list of affected securities as a courtesy to existing Valordata Feed (VDF) customers. For complete support of the French financial transaction tax, the respective data package is available for subscription.
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