The tax on financial transactions brought in 1.8 billion euros to the State in 2020. A new record since its creation in 2012.
The year 2020 marks a record for the tax on financial transactions
The Minister of Public Accounts, Olivier Dussopt, announced Tuesday February 16, 2021 before the National Assembly, that the tax on financial transactions had brought in 1.785 billion euros in 2020. A result up 340 million. The Minister said ” In 2020, this tax on financial transactions broke records in terms of revenue for the French State, since it enabled us to collect 1.785 billion euros, an increase of 340 million compared to the previous year. “
A record for the tax which since 2012 levies a percentage on share sales transactions. Between 2012 and 2017, this percentage rose to 0.2% before dropping to 0.3%. The tax applies to companies with a market capitalization of more than one billion euros and having their head office in France.
A healthy stock market despite a global pandemic
The high amount of this tax on financial transactions or TTF shows that despite the Covid-19 health crisis which is shaking up the economy, the stock market remains healthy and dynamic. The result goes even beyond the estimates made by the government which at the end of 2019 was counting on an amount of 1.1 billion.
Olivier Dussopt explains this increase by “ a larger tax base than in 2019, with an increase in the proportion of transactions affected by the tax and an increase in the number of companies subject to the tax (134 against 132 in 2019) “. The revenue from the tax on financial transactions is partially allocated to the financing of development aid, the remaining part is used to fund the state budget.