Was anybody else charged an extra $31.46 fee "Foregeign seccurity Fee for buying TOT? I called ameritrade and they did not give me a clear answer and only said that this ADR randomly charges this extra fee. I think this is #$%$ and I am wondering if anybdy else got screwed like me.
From my fidelity acct. I put in a buy order for 50 + 2K shares will cost me 200 in the tax if I get the trade. I believe that it is deductable on your US taxes as are most foreign taxes paid.
(DW1602) The French government has instituted a 0.20% Financial Transaction Tax on both American Depository Receipts (ADRs) and foreign ordinary (ORDs). This tax applies only to executed buy orders and is in addition to the commission and principal amount of your transaction. Please contact our International team with any questions at 800-544-2976.
I have recently made three or four purchases of TOT on etrade and have not heard of such. There is a 15% witholding tax on the dividend by treaty between the U.S. and France, and the same witholding for BP shares, but no fee for a foreign stock at least not the ADR.
If you hold your shares at Fidelity, your January 31st statement explained the fee in quite a bit of detail; perhaps others did as well. Of course, if you don't READ your statements, you might not have noticed it :-).
Still, there's nothing that justifies shouting "I've been screwed" on an internet bulletin board. What you're really announcing to all of us is that your're an idiot.
Dee DEE, or DO DO I wish I was such a smart person as you claim to be. Yes, I was an idot to buy TOT or any French stock as I did not know the French goverment charges these extra fees when you buy a Frecnch stock. In the future I will be smarter not to buy any French stock.
You didn't get "Screwed". France passed a new tax. Every time you buy shares in a stock you pay a small percentage of the purchase in taxes. Not sure what the % is, but it only applies to when you buy the stock, not sell.
Thanks Joe for the up-date, I did find out that on Jan 14th that the French Gov. started this new policy of the extra tax to us investers of TOT. DEE DEE or DO DO what ever he calls himself would not explain that to me, maybe he was so stupid he did not know himself when they started this new French Tax.