What is financial transaction tax?

Financial transaction tax is the collective term for taxes levied on transactions in financial instruments. Countries such as Belgium, France, Greece, Italy, Spain, Ireland and the United Kingdom have introduced a transaction tax. In Ireland, the United Kingdom and Hong Kong, the transaction tax takes the form of a "stamp duty". These countries all use different parameters to determine whether a transaction is taxed and at what rate. This can even result in multiple transaction taxes applying to a single transaction.