capital gains received will be added to the taxpayer's total income. Capital gains taxes such as Greece's are generally not considered financial transaction taxes. India Since 1 October 2004, India levies a Securities Transaction Tax (STT). As of 2020, the rate on buy and sell transactions made through a recognized national stock exchange is 0.1% paid by the seller plus 0.1% paid by the buyer. Other rates apply to derivatives transactions; for example, for sale of options on securities, the rate is 0.017% of the option premium. The tax has been criticized by the Indian financial sector and is currently under review. Italy Since 1 March 2013, Italy levies financial transaction tax on qualified equity transactions of up to 0.2% (0.22% in 2013) of the value of the trade. Financial transaction tax on derivatives of qualified equity transactions went into effect on 1 September 2013. The regulation is to apply the tax on the net balance of purchase and sale transactions executed same day on the same financial instrument by the same person/entity. It applies to: Shares issued by Italian resident companies with a capitalization equal to or higher than 500 million euros; Cash equity contracts; Equity Derivatives contracts; Instruments incorporating or representing the shares (ADR, GDR) regardless the residency of the issuer; High Frequency Trading on cash equities and equity derivatives transactions. The liable party is the investor (net buyer) for cash equities and both parties of the derivatives contract. Japan Until 1999, Japan imposed a transaction tax on a variety of financial instruments, including debt instruments and equity instruments, but at differential rates. The tax rates were higher on equities than on debentures and bonds. In the late 1980s, the Japanese government was generating significant revenues of about $12 billion per year. The tax was eventually withdrawn as part of the "big bang" liberalization of the financial sector in 1999. There were these taxes. exchange tax (1893-1999) securities transfer tax (1937-1950) securities transaction tax (1953-1999) In 1893, the tax rates were 0.06% for securities and commodities and 0.03% for bonds. Peru In 2003 the Peruvian government introduced a 0.1% general financial transaction tax on all foreign currency-denominated incoming wire transfers regardless of their country of origin, to raise finance for the education sector. The tax is to be assessed automatically but collected manually. Poland Poland charges a 1% Civil Law Activities Tax (CLAT) on the sale or exchange