Taxing The Financial Sector

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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

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.

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 and the Financial Crisis

Author : Julian S. Alworth
Publisher : Oxford University Press
ISBN 13 : 0199698163
Total Pages : 321 pages
Book Rating : 4.1/5 (996 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 321 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines how tax policies contributed to the financial crisis; whether taxation can play a role in the reform efforts to establish a sounder and safer financial system; and the pros and cons of various tax initiatives.

Taxing Banks Fairly

Author : Sajid M. Chaudhry
Publisher : Edward Elgar Publishing
ISBN 13 : 1783476486
Total Pages : 208 pages
Book Rating : 4.7/5 (834 download)

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Book Synopsis Taxing Banks Fairly by : Sajid M. Chaudhry

Download or read book Taxing Banks Fairly written by Sajid M. Chaudhry and published by Edward Elgar Publishing. This book was released on 2014-10-31 with total page 208 pages. Available in PDF, EPUB and Kindle. Book excerpt: Taxing Banks Fairly offers an ethical perspective on bank taxation and financial stability to complement the traditional political economy approach. It also considers how a bank levy or financial activities tax, could be used to ensure that big banks m

The Taxation and Regulation of Banks

Author : Mr.Michael Keen
Publisher : International Monetary Fund
ISBN 13 : 1463902174
Total Pages : 41 pages
Book Rating : 4.4/5 (639 download)

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Book Synopsis The Taxation and Regulation of Banks by : Mr.Michael Keen

Download or read book The Taxation and Regulation of Banks written by Mr.Michael Keen and published by International Monetary Fund. This book was released on 2011-08-01 with total page 41 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial crisis has prompted a reconsideration of the taxation of financial institutions, with practice outstripping principle: France, Germany, the United Kingdom and several other European countries have now introduced some form of bank tax, and the U.S. administration has revived its own proposal for such a charge. This paper considers the structure, appropriate rate, and revenue yield of corrective taxation of financial institutions addressed to two externalities, consequent on excessive risk-taking, prominent in the crisis: those that arise when such institutions are simply allowed to collapse, and those that arise when, to avoid the harm this would cause, their creditors are bailed out. It also asks whether corrective taxation or a regulatory capital requirement is the better way to address these concerns. The results suggest a potential role for taxing bank borrowing, perhaps as an adjunct to minimum capital requirements, at marginal rates that rise quite sharply at low capital ratios (but are likely lower when the government cannot commit to its bailout policy), reaching levels higher than those of the bank taxes so far adopted or proposed.

Taxing Financial Transactions

Author : Ms.Thornton Matheson
Publisher : International Monetary Fund
ISBN 13 : 1455220981
Total Pages : 50 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 50 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.

Balancing the Regulation and Taxation of Banking

Author : Sajid M. Chaudhry
Publisher : Edward Elgar Publishing
ISBN 13 : 1785360272
Total Pages : 168 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 168 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

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.

Taxation, Bank Leverage, and Financial Crises

Author : Ruud A. de Mooij
Publisher : International Monetary Fund
ISBN 13 : 1475577702
Total Pages : 26 pages
Book Rating : 4.4/5 (755 download)

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Book Synopsis Taxation, Bank Leverage, and Financial Crises by : Ruud A. de Mooij

Download or read book Taxation, Bank Leverage, and Financial Crises written by Ruud A. de Mooij and published by International Monetary Fund. This book was released on 2013-02-25 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: That most corporate tax systems favor debt over equity finance is now widely recognized as, potentially, amplifying risks to financial stability. This paper makes a first attempt to explore, empirically, the link between this tax bias and the probability of financial crisis. It finds that greater tax bias is associated with significantly higher aggregate bank leverage, and that this in turn is associated with a significantly greater chance of crisis. The implication is that tax bias makes crises much more likely, and, conversely, that the welfare gains from policies to alleviate it can be substantial—far greater than previous studies, which have ignored financial stability considerations, suggest.

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.

Taxation of Financial Services Industry

Author : United States. Congress. Senate. Committee on Finance
Publisher :
ISBN 13 :
Total Pages : 370 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Taxation of Financial Services Industry by : United States. Congress. Senate. Committee on Finance

Download or read book Taxation of Financial Services Industry written by United States. Congress. Senate. Committee on Finance and published by . This book was released on 1983 with total page 370 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Review of current practices for taxation of financial instruments, profits and remuneration of the financial sector

Author : [Anonymus AC09581465]
Publisher :
ISBN 13 : 9789279250255
Total Pages : 72 pages
Book Rating : 4.2/5 (52 download)

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Book Synopsis Review of current practices for taxation of financial instruments, profits and remuneration of the financial sector by : [Anonymus AC09581465]

Download or read book Review of current practices for taxation of financial instruments, profits and remuneration of the financial sector written by [Anonymus AC09581465] and published by . This book was released on 2012 with total page 72 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The economic and financial crisis has triggered political discussions on the taxation of the financial sector and whether there is a need to adapt tax systems to make the financial sector contribute in a fair and substantial way to public budgets. On 7 October 2010, The European Commission presented its communication on "Taxation of the Financial Sector (COM(2010)549 final)" and its accompanying Staff Working Document SEC(2010)1166, which assesses the Financial Transaction Tax and the Financial Activity Tax. There have been debates in the Council, in the European Parliament, in the Economic and Social Committee, in the G-20, and in the Member States on the issue. One key issue in the debate is to what extent current tax provisions directed at financial instruments or the Financial Sector differ across countries and/ or differ from tax provisions in other sectors within countries. There is therefore a need for a comprehensive overview of current tax practices with regard to Financial Sector taxation in order to understand better the current taxation of the Financial Sector in the EU. To this end, the Commission has instructed PwC to provide a review of the current tax provisions directed at the Financial Sector and financial instruments. The content of the Study is limited to the questions raised by the Commission in the questionnaires provided and is subject to certain limitations in terms of scoping as agreed by the Commission and detailed below in introduction of the respective Chapters."--Editor.

Federal Income Taxation of Banks and Financial Institutions

Author : Eugene M. Krader
Publisher :
ISBN 13 :
Total Pages : 1098 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Federal Income Taxation of Banks and Financial Institutions by : Eugene M. Krader

Download or read book Federal Income Taxation of Banks and Financial Institutions written by Eugene M. Krader and published by . This book was released on 1978 with total page 1098 pages. Available in PDF, EPUB and Kindle. Book excerpt:

VAT and Financial Services

Author : Robert F. van Brederode
Publisher : Springer
ISBN 13 : 9811034656
Total Pages : 414 pages
Book Rating : 4.8/5 (11 download)

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Book Synopsis VAT and Financial Services by : Robert F. van Brederode

Download or read book VAT and Financial Services written by Robert F. van Brederode and published by Springer. This book was released on 2017-03-06 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explains the theoretical and policy issues associated with the taxation of financial services and includes a jurisdictional overview that illustrates alternative policy choices and the legal consequences of those choices . The book addresses the question: how can financial services in an increasingly globalized market best be taxed through VAT while avoiding economic distortions? It supports the discussion of the key practical problems that have arisen from the particular complexity of the application of VAT to financial services, and allows for the evaluation of best practice by comparing the major current reform models now being implemented.

The Value-Added Tax: Orthodoxy and New Thinking

Author : Murray L. Weidenbaum
Publisher : Springer Science & Business Media
ISBN 13 : 9400924968
Total Pages : 284 pages
Book Rating : 4.4/5 (9 download)

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Book Synopsis The Value-Added Tax: Orthodoxy and New Thinking by : Murray L. Weidenbaum

Download or read book The Value-Added Tax: Orthodoxy and New Thinking written by Murray L. Weidenbaum and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: IF, WHEN YOU SAY "CONSUMPTION TAX , " YOU MEAN . . . by Ernest S. Christian, Jr. and Cliff Massa III Much has been said and written about consumption taxes in the United States, but mostly in a theoretical context. Dozens of schol arly treatises have been published, along with innumerable papers and speeches most of which were more argumentative than illumi nating in nature. Audiences have sat through uncounted confer ences on the merits or evils of consumption taxes, depending on the speakers' perspectives. There have been only three comprehensive legislative proposals to which these theories and arguments could be 1 applied, no one of which was acted upon in the Congress. Purveyors of conventional wisdom have suggested that this theo retical context might be replaced within a year or two by actual con sideration of a federal-level consumption tax. Some see enactment of such a tax as a desirable -- or at least a necessary -- means for reducing the federal deficit. The National Economic Commission, which was created by legislation in 1987 to recommend deficit reduction measures, was perceived by many skeptics and proponents alike to be the Trojan Horse which would carry a consumption tax Lrhe proposals were H. R. 7015, ''The Tax Restructuring Act of 1980," introduced by Rep. Al Ullman; S. 1102, ''The Business Transfer Tax Act of 1985," introduced by Senator William Roth; and H. R. 4598, introduced by Rep.

Trends and Future Directions in Tax Policy Reform

Author : Mr.Parthasarathi Shome
Publisher : International Monetary Fund
ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.:/5 (318 download)

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Book Synopsis Trends and Future Directions in Tax Policy Reform by : Mr.Parthasarathi Shome

Download or read book Trends and Future Directions in Tax Policy Reform written by Mr.Parthasarathi Shome and published by International Monetary Fund. This book was released on 1992-06 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tax reform in Latin America during the 1980s emphasized broad-based, low-rate consumption taxes over steeply progressive income and property taxes, primarily to simplify the tax structure and facilitate tax administration. While tax reform need not necessarily raise tax-to-GDP ratios, countries that undertook tax reform experienced a higher revenue gain in terms of GDP relative to those that did not. Tax reform issues during the 1990s will include a minimum income tax, alternative corporate taxes (cash flow tax, assets tax), capturing difficult tax bases (financial intermediation, property), environment taxes, extending withholding as a taxing mechanism, and tax harmonization.