[fruser1]

You’re reading it wrong. This is the VAT bit.

When they say “transaction” they are referring to payment for goods or services.

A deposit/withdrawal into your account is not a “transaction”.

[raybbr]

When they say “transaction” they are referring to payment for goods or services.

Read the definition:

`SEC. 4501. IMPOSITION OF TRANSACTION FEE.

`(a) In General- There is hereby imposed on every specified transaction a fee in an amount equal to 1 percent of the amount of such transaction.

`(b) Specified Transaction- For purposes of this chapter--

`(1) IN GENERAL- The term `specified transaction' means any transaction that uses a payment instrument, including any check, cash, credit card, transfer of stock, bonds, or other financial instrument.

`(2) TRANSACTION- The term `transaction' includes retail and wholesale sales, purchases of intermediate goods, and financial and intangible transactions.