Taxation of Financial Intermediation : Theory and Practice for Emerging Economines

Honohan, Patrick

Washington, DC:World Bank and Oxford University Press

关键词: ACCOUNTING;    ARBITRAGE;    ASYMMETRIC INFORMATION;    BALANCE SHEET;    BANK RESERVES;   

DOI  :  10.1596/0-8213-5434-5
RP-ID  :  26511

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This volume examines the possibilitiesand pitfalls to successful financial sector tax reform fromtheoretical, empirical and practical perspectives. Itexplores the possibilities and limitations of "bigideas" such as removal of all capital income taxation,the application of VAT to financial services or heavyreliance on financial transactions taxes. The risks ofattempting to use financial sector taxes as correctiveinstruments are stressed. Two defensive criteria areadvanced as key: making the financial tax system asarbitrage- and inflation-proof as is practicable. Eachcommissioned essay develops a distinct aspect of the area.Theoretical chapters model the impact of taxes onintermediaries, the design of optimal tax schemes, the roleof imperfect information and the relationship with saving.Current practice in the industrial world and case studies ofdistorted national systems provide an empiricalunderpinning. Finally, experience with several of the mainpractical issues is discussed in chapters ranging from theincome tax treatment of intermediary loan-loss reserves, theVAT, financial transactions taxes, deposit insurance andinflation. Contributors are distinguished academics and practitioners.