Impact Of Taxation On The Financial Services Sector

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Impact of Taxation on the Financial Services Sector

Author : Kevin J. Dancey
Publisher : Task Force
ISBN 13 :
Total Pages : 86 pages
Book Rating : 4.:/5 (31 download)

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Book Synopsis Impact of Taxation on the Financial Services Sector by : Kevin J. Dancey

Download or read book Impact of Taxation on the Financial Services Sector written by Kevin J. Dancey and published by Task Force. This book was released on 1998 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt: This research focuses on the impact of the major federal and provincial taxes on the relative competitive position of domestically owned firms supplying similar financial services, as well as on the competitive position of Canadian institutions operating internationally or in competition with foreign institutions in the Canadian marketplace. In addition, elements are identified regarding the tax treatment of financial institutions that might motivate them to take actions driven by tax planning considerations which would conflict with the objectives of prudential regulation. The research approach involves not only a new economic analysis but also a review of other studies on the impact of taxation in the financial services sector and solicitation of input directly from participants in the sector. The report begins with a review of recent trends in the financial sector relating to tax and non-tax issues. It then describes the approach used in assessing competitiveness and proceeds with the assessment of competitiveness in the making of loans and of savings vehicles. This is followed by discussion of specific tax issues such as capital taxes, non-resident withholding taxes, and measurement of income. Finally, prudential issues are discussed. The appendix includes description of an economic approach to evaluating the taxation of financial institutions.

Taxation and Regulation of the Financial Sector

Author : Ruud De Mooij
Publisher : MIT Press
ISBN 13 : 0262321106
Total Pages : 417 pages
Book Rating : 4.2/5 (623 download)

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Book Synopsis Taxation and Regulation of the Financial Sector by : Ruud De Mooij

Download or read book Taxation and Regulation of the Financial Sector written by Ruud De Mooij and published by MIT Press. This book was released on 2014-12-12 with total page 417 pages. Available in PDF, EPUB and Kindle. Book excerpt: Analytical and empirical perspectives on the interplay of taxation and regulation in the financial sector. The global financial crisis has prompted economists to rethink fundamental questions on how governments should intervene in the financial sector. Many countries have already begun to reform the taxation and regulation of the financial sector—in the United States, for example, the Dodd–Frank Act became law in 2010; in Europe, different countries have introduced additional taxes on the sector and made substantial progress toward a banking union for the eurozone. Only recently, however, has a new field in economics emerged to study the interplay between public finance and banking. This book offers the latest thinking on the topic by American and European economists. The contributors first explore new conceptual ground, offering rigorous theoretical analyses that help us better understand how tax policy and regulation can contribute to avoiding another crisis or reducing its impact. Contributors then investigate the behavior of financial institutions in response to various forms of taxation and regulation, offering empirical evidence that is vital for policy design. Contributors Thiess Buettner, Jin Cao, Giuseppina Cannas, Gunther Capelle-Blancard, Jessica Cariboni, Brian Coulter, Ernesto Crivelli, Ruud de Mooij, Michael P. Devereux, Katharina Erbe, Ricardo Fenochietto, Marco Petracco Giudici, Timothy J. Goodspeed, Reint Gropp, Olena Havyrlchyk, Michael Keen, Lawrence L. Kreicher, Julia Lendvai, Ben Lockwood, Massimo Marchesi, Donato Masciandaro, Colin Mayer, Robert N. McCauley, Patrick McGuire, Gaëtan Nicodème, Masanori Orihara, Francesco Passarelli, Carola Pessino, Rafal Raciborski, John Vickers, Lukas Vogel, Stefano Zedda

Taxation of Financial Intermediation

Author : Patrick Honohan
Publisher : World Bank Publications
ISBN 13 : 9780821354346
Total Pages : 476 pages
Book Rating : 4.3/5 (543 download)

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Book Synopsis Taxation of Financial Intermediation by : Patrick Honohan

Download or read book Taxation of Financial Intermediation written by Patrick Honohan and published by World Bank Publications. This book was released on 2003 with total page 476 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the options for, and obstacles to, successful financial sector tax reform, both in terms of theoretical and practical aspects. Issues discussed include: the design of optimal tax schemes, the role of imperfect information and the links between taxation and saving, inflation, the income tax treatment of intermediary loan-loss reserves, deposit insurance, VAT and financial transactions taxes; as well as current practice in the industrial world and case studies of distorted national systems. This is a co-publication of the World Bank and Oxford University Press.

Taxing the Financial Sector

Author : Mr.Howell H. Zee
Publisher : International Monetary Fund
ISBN 13 : 1589063163
Total Pages : 100 pages
Book Rating : 4.5/5 (89 download)

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Book Synopsis Taxing the Financial Sector by : Mr.Howell H. Zee

Download or read book Taxing the Financial Sector written by Mr.Howell H. Zee and published by International Monetary Fund. This book was released on 2004-04-16 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most complex issues in tax policy today is the treatment of the institutions, products, and services that make up the financial sector. It can be harder to ascertain income, expenses, and profits for financial firms than for firms selling goods and services, and it is easier for individuals and firms to manipulate financial transactions so as to exploit tax loopholes. This volume explores the challenges faced by tax policymakers and identifies modern best practices in several areas: banks, insurance companies, securities companies, investment funds, pension funds, and derivatives.

Balancing the Regulation and Taxation of Banking

Author : Sajid M. Chaudhry
Publisher : Edward Elgar Publishing
ISBN 13 : 1785360272
Total Pages : 166 pages
Book Rating : 4.7/5 (853 download)

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Book Synopsis Balancing the Regulation and Taxation of Banking by : Sajid M. Chaudhry

Download or read book Balancing the Regulation and Taxation of Banking written by Sajid M. Chaudhry and published by Edward Elgar Publishing. This book was released on 2015-08-28 with total page 166 pages. Available in PDF, EPUB and Kindle. Book excerpt: This concise book gives a unique overview of bank taxation as an alternative or a compliment to prudential regulation or non-revenue taxation. Existing bank taxation is reviewed with a view to eliminating distortions in the tax system, which have incen

The Impact of Taxation on Financial Services Business Location Decisions

Author : Darren Butterworth
Publisher :
ISBN 13 :
Total Pages : 87 pages
Book Rating : 4.:/5 (2 download)

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Book Synopsis The Impact of Taxation on Financial Services Business Location Decisions by : Darren Butterworth

Download or read book The Impact of Taxation on Financial Services Business Location Decisions written by Darren Butterworth and published by . This book was released on 2008 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: This report, by CRA International, examines recent trends in UK taxation and their effect on City firms. It examines all aspects of the UK tax regime and reflects a number of interviews with senior decision-makers in the City. It concludes that the UK corporate and personal tax regimes, and the manner of their implementation, are impacting detrimentally on the competitiveness of the UK financial services sector and beginning to affect business location decisions.

Taxation and the Financial Crisis

Author : Julian S. Alworth
Publisher : Oxford University Press
ISBN 13 : 019162408X
Total Pages : 336 pages
Book Rating : 4.1/5 (916 download)

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Book Synopsis Taxation and the Financial Crisis by : Julian S. Alworth

Download or read book Taxation and the Financial Crisis written by Julian S. Alworth and published by Oxford University Press. This book was released on 2012-02-23 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is an open access title available under the terms of a CC BY-NC-ND 3.0 International licence. It is free to read at Oxford Scholarship Online and offered as a free PDF download from OUP and selected open access locations. The financial crisis triggered a global debate on the taxation of the financial sector. A number of international policy initiatives, most notably by the G-20, have called for major changes to the tax treatment of financial institutions and transactions, as well as to working practice within the financial sector. This book examines how tax policies contributed to the financial crisis and whether taxation can play a role in the reform efforts to establish a sounder and safer financial system. It looks at the pros and cons of various tax initiatives including limiting the tax advantages to debt financing; special taxes on the financial sector; and financial transactions taxes. It examines policy concerns such as: the manner in which the financial sector should "pay" for its bailout and the role of accumulated tax losses on financial institutions' behaviour; the role that taxes may play in correcting the systemic externalities associated with "too big to fail"; the types of tax that are most appropriate for financial institutions and markets ("excess profits" versus "financial transactions taxes"); the interaction between taxes and the regulation of the financial sector; and the role of taxation in countercyclical and macroeconomic policies.

Taxing the Financial Sector

Author : Dennis Weber
Publisher : IBFD
ISBN 13 : 908722141X
Total Pages : 227 pages
Book Rating : 4.0/5 (872 download)

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Book Synopsis Taxing the Financial Sector by : Dennis Weber

Download or read book Taxing the Financial Sector written by Dennis Weber and published by IBFD. This book was released on 2012 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains contributions from prominent practitioners and academics presenting their views on the tax levies on the financial sector from a legal and an economic perspective. (New) tax levies on the financial sector have been an ongoing subject of interest since the financial crisis of the past years. In this book, various ways of taxing the financial sector are discussed.

Taxation of Financial Intermediation

Author : Christophe Chamley
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 88 pages
Book Rating : 4./5 ( download)

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Book Synopsis Taxation of Financial Intermediation by : Christophe Chamley

Download or read book Taxation of Financial Intermediation written by Christophe Chamley and published by World Bank Publications. This book was released on 1990 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Financial sector taxation

Author : [Anonymus AC08741538]
Publisher :
ISBN 13 : 9789279187353
Total Pages : 44 pages
Book Rating : 4.1/5 (873 download)

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Book Synopsis Financial sector taxation by : [Anonymus AC08741538]

Download or read book Financial sector taxation written by [Anonymus AC08741538] and published by . This book was released on 2010 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The global economic and financial crisis has created important needs for fiscal consolidation. This document analyses potential instruments to raise additional tax revenues from the financial sector. The first section reviews the current policy objectives related to the taxation of the financial sector. The second section sheds some light on the current tax treatment of the financial sector. The third section discusses potential tax instruments to reach the goals. The fourth and fifth section respectively assess the advantages and drawbacks of a Financial Transaction Tax and a Financial Activities Tax."--Editor.

The Impact of Taxation on Financial Services

Author : Judith Hally
Publisher :
ISBN 13 :
Total Pages : 40 pages
Book Rating : 4.:/5 (144 download)

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Book Synopsis The Impact of Taxation on Financial Services by : Judith Hally

Download or read book The Impact of Taxation on Financial Services written by Judith Hally and published by . This book was released on 1990 with total page 40 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Impuestos al consumo y servicios financieros

Author : Han A. Kogels
Publisher :
ISBN 13 : 9789041121561
Total Pages : 806 pages
Book Rating : 4.1/5 (215 download)

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Book Synopsis Impuestos al consumo y servicios financieros by : Han A. Kogels

Download or read book Impuestos al consumo y servicios financieros written by Han A. Kogels and published by . This book was released on 2003 with total page 806 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial services are generally exempted from VAT or other general consumption taxes. This panel examines the operation of this exemption system for financial services and its impact on the economy in general and market competition in particular. The panel discussion is divided into three main parts. The first part deals with the broad approaches being followed around the world for taxation of financial services. The second part deals with the problems being encountered under the current exemption systems. Subjects in this part include the partial input tax deduction schemes, application of tax to outsourcing of processing of financial transactions, and the guidance provided under landmark court decisions in Europe. The third part focuses on options for change, both ad hoc options to address specific problems, and general options to make financial services taxable or to simplify the partial input tax deduction system.

Taxing Financial Transactions

Author : Ms. Thornton Matheson
Publisher : International Monetary Fund
ISBN 13 : 1455222062
Total Pages : 51 pages
Book Rating : 4.4/5 (552 download)

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Book Synopsis Taxing Financial Transactions by : Ms. Thornton Matheson

Download or read book Taxing Financial Transactions written by Ms. Thornton Matheson and published by International Monetary Fund. This book was released on 2011-03-01 with total page 51 pages. Available in PDF, EPUB and Kindle. Book excerpt: In reaction to the recent financial crisis, increased attention has recently been given to financial transaction taxes (FTTs) as a means of (1) raising revenue for a variety of possible purposes and/or (2) helping to curb financial market excesses. This paper reviews existing theory and evidence on the efficacy of an FTT in fulfilling those tasks, on its potential impact, and on key issues to be faced in designing taxes of this kind.

Tax Policy, Leverage and Macroeconomic Stability

Author : International Monetary Fund. Fiscal Affairs Dept.
Publisher : International Monetary Fund
ISBN 13 : 1498345204
Total Pages : 78 pages
Book Rating : 4.4/5 (983 download)

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Book Synopsis Tax Policy, Leverage and Macroeconomic Stability by : International Monetary Fund. Fiscal Affairs Dept.

Download or read book Tax Policy, Leverage and Macroeconomic Stability written by International Monetary Fund. Fiscal Affairs Dept. and published by International Monetary Fund. This book was released on 2016-12-10 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: Risks to macroeconomic stability posed by excessive private leverage are significantly amplified by tax distortions. ‘Debt bias’ (tax provisions favoring finance by debt rather than equity) has increased leverage in both the household and corporate sectors, and is now widely recognized as a significant macroeconomic concern. This paper presents new evidence of the extent of debt bias, including estimates for banks and non-bank financial institutions both before and after the global financial crisis. It presents policy options to alleviate debt bias, and assesses their effectiveness. The paper finds that thin capitalization rules restricting interest deductibility have only partially been able to address debt bias, but that an allowance for corporate equity has generally proved effective. The paper concludes that debt bias should feature prominently in countries’ tax reform plans in the coming years.

Tax Policy

Author : Tehmina S. Khan
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 66 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Tax Policy by : Tehmina S. Khan

Download or read book Tax Policy written by Tehmina S. Khan and published by International Monetary Fund. This book was released on 2007-12 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper provides an overview of the key economic factors that shape tax policy reform in many high-income countries, developing countries, and/or transition economies. The paper describes and evaluates global and regional developments with respect to tax rates and revenue ratios over the last some 20 years, and discusses selected structural reform initiatives that have been high on the policy agenda over this period. In particular, it focuses on developments relating to experiments with the restructuring of corporate tax, the impact of corporate taxes on FDI, key reform initiatives including dual income taxes and flat taxes, as well as the worldwide spread of the VAT and policy developments associated with climate change and natural resource taxation.

The Impact of Brexit on Taxation in the Financial Services

Author : Z. Feller
Publisher :
ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (126 download)

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Book Synopsis The Impact of Brexit on Taxation in the Financial Services by : Z. Feller

Download or read book The Impact of Brexit on Taxation in the Financial Services written by Z. Feller and published by . This book was released on 2017 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: This article considers the UK taxes which are currently influenced by membership of the European Union, the potential models for Brexit and how the different exit models will change taxes affecting the sector. It considers both the expected impact on the Exchequer and how this may influence policy-making at a broader level.

Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance

Author : El Bachir Boukherouaa
Publisher : International Monetary Fund
ISBN 13 : 1589063953
Total Pages : 35 pages
Book Rating : 4.5/5 (89 download)

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Book Synopsis Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance by : El Bachir Boukherouaa

Download or read book Powering the Digital Economy: Opportunities and Risks of Artificial Intelligence in Finance written by El Bachir Boukherouaa and published by International Monetary Fund. This book was released on 2021-10-22 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses the impact of the rapid adoption of artificial intelligence (AI) and machine learning (ML) in the financial sector. It highlights the benefits these technologies bring in terms of financial deepening and efficiency, while raising concerns about its potential in widening the digital divide between advanced and developing economies. The paper advances the discussion on the impact of this technology by distilling and categorizing the unique risks that it could pose to the integrity and stability of the financial system, policy challenges, and potential regulatory approaches. The evolving nature of this technology and its application in finance means that the full extent of its strengths and weaknesses is yet to be fully understood. Given the risk of unexpected pitfalls, countries will need to strengthen prudential oversight.