Taxing the Financial Sector: Concepts, Issues, and Practice

April 16, 2004

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Format: Chicago

Howell H Zee. Taxing the Financial Sector: Concepts, Issues, and Practice, (USA: International Monetary Fund, 2004) accessed November 21, 2024

Summary

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.

Subject: Financial institutions, Financial services, Income tax systems, Insurance, National accounts, Personal income, Taxes, Value-added tax

Keywords: Africa, Arbitrage opportunity, Australia and New Zealand, Bank, BOOK, Capital gain, Credit-invoice VAT, Europe, General tax principle, Income tax systems, Insurance, Personal income, Securities transaction tax, Tax relief, Tax treatment, Taxation, Value-added tax, Value-added tax, VAT

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93
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