I have a question about the APT tax: I like the idea very much due to its simplicity. However, I have tried to think about ways in which households and/or corporations (including banks) could try and avoid paying the tax. One way would be, for banks for example, to outsource all their transaction activities to foreign countries. For example, if they need to trade a lot with their clients funds, they could just send the funds (paying the tax once) to a foreign account, do all the trading they need to do, and repatriate the funds (paying the tax again) once the client requests the funds.
How would be taxation for foreign funds controlled? In principle, there could be a way: to request to any foreign account that could receive funds from the original country (with the APT tax) to report all transactions. However, I do not know if this is feasible.
What do you think?