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Author: Ruud de Mooij
Publisher: MIT Press
Published: 2014-12-05
Total Pages: 417
ISBN-13: 0262027976
DOWNLOAD EBOOKAnalytical and empirical perspectives on the interplay of taxation and regulation in the financial sector.
Author: Sajid M. Chaudhry
Publisher: Edward Elgar Publishing
Published: 2015-08-28
Total Pages: 166
ISBN-13: 1785360272
DOWNLOAD EBOOKThis 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
Author: [Anonymus AC08741538]
Publisher:
Published: 2010
Total Pages: 44
ISBN-13: 9789279187353
DOWNLOAD EBOOK"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.
Author: OECD
Publisher: OECD Publishing
Published: 2017-03-27
Total Pages: 326
ISBN-13: 9264267999
DOWNLOAD EBOOKThis publication contains the following four parts: A model Competent Authority Agreement (CAA) for the automatic exchange of CRS information; the Common Reporting Standard; the Commentaries on the CAA and the CRS; and the CRS XML Schema User Guide.
Author: Julian S. Alworth
Publisher: Oxford University Press (UK)
Published: 2012-02-23
Total Pages: 321
ISBN-13: 0199698163
DOWNLOAD EBOOKThis 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.
Author: International Monetary Fund. Fiscal Affairs Dept.
Publisher: International Monetary Fund
Published: 2016-12-10
Total Pages: 78
ISBN-13: 1498345204
DOWNLOAD EBOOKRisks 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.
Author: Mr.Andre Santos
Publisher: International Monetary Fund
Published: 2012-09-11
Total Pages: 43
ISBN-13: 147551008X
DOWNLOAD EBOOKStaff Discussion Notes showcase the latest policy-related analysis and research being developed by individual IMF staff and are published to elicit comment and to further debate. These papers are generally brief and written in nontechnical language, and so are aimed at a broad audience interested in economic policy issues. This Web-only series replaced Staff Position Notes in January 2011.
Author: Ms.Oana Luca
Publisher: International Monetary Fund
Published: 2016-11-10
Total Pages: 28
ISBN-13: 1475552807
DOWNLOAD EBOOKMost tax systems create a tax bias toward debt finance. Such debt bias increases leverage and may negatively affect financial stability. This paper models and estimates debt bias in the financial sector, and present novel estimates for investment banks and non-bank financial intermediaries such as finance and insurance companies. We find debt bias to be pervasive, explaining as much as 10 percent of total leverage for regular banks and 20 percent for investment banks, with the effects most pronounced before the global financial crisis. Going forward, debt bias is likely to once again gain prominence as a key driver of leverage decisions, underscoring the importance of policy reform at this juncture.
Author: World Bank
Publisher: World Bank Publications
Published: 2019-11-21
Total Pages: 254
ISBN-13: 1464814414
DOWNLOAD EBOOKSeventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.
Author: Ms.Grace Weishi Gu
Publisher: International Monetary Fund
Published: 2012-11-30
Total Pages: 35
ISBN-13: 147554068X
DOWNLOAD EBOOKThis paper explores how corporate taxes affect the financial structure of multinational banks. Guided by a simple theory of optimal capital structure it tests (i) whether corporate taxes induce subsidiary banks to raise their debt-asset ratio in light of the traditional debt bias; and (ii) whether international corporate tax differentials vis-a-vis foreign subsidiary banks affect the intra-bank capital structure through international debt shifting. Using a novel subsidiary-level dataset for 558 commercial bank subsidiaries of the 86 largest multinational banks in the world, we find that taxes matter significantly, through both the traditional debt bias channel and the international debt shifting that is due to the international tax differentials. The latter channel is more robust and tends to be quantitatively more important. Our results imply that taxation causes significant international debt spillovers through multinational banks, which has potentially important implications for tax policy.
