This volume examines the possibilities and pitfalls to successful
financial sector tax reform from theoretical, empirical and
practical perspectives. It explores the possibilities and
limitations of "big ideas" such as removal of all capital income
taxation, the application of VAT to financial services or heavy
reliance on financial transactions taxes. The risks of attempting
to use financial sector taxes as corrective instruments are
stressed. Two defensive criteria are advanced as key: making the
financial tax system as arbitrage- and inflation-proof as is
practicable. Each commissioned essay develops a distinct aspect of
the area. Theoretical chapters model the impact of taxes on
intermediaries, the design of optimal tax schemes, the role of
imperfect information and the relationship with saving. Current
practice in the industrial world and case studies of distorted
national systems provide an empirical underpinning. Finally,
experience with several of the main practical issues is discussed
in chapters ranging from the income tax treatment of intermediary
loan-loss reserves, the VAT, financial transactions taxes, deposit
insurance and inflation. Contributors are distinguished academics
and practitioners.
General
Imprint: |
World Bank Publications
|
Country of origin: |
United States |
Release date: |
June 2003 |
First published: |
June 2003 |
Editors: |
Patrick Honohan
|
Dimensions: |
230 x 155 x 27mm (L x W x T) |
Format: |
Paperback
|
Pages: |
464 |
Edition: |
New |
ISBN-13: |
978-0-8213-5434-6 |
Categories: |
Books
|
LSN: |
0-8213-5434-5 |
Barcode: |
9780821354346 |
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