The Taxation of Financial Assets: A Survey of Issues and Country Experiences

Author/Editor:

John R King ; Vito Tanzi

Publication Date:

May 1, 1995

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

Taxes affect the degree and efficiency of financial intermediation in many different ways. This paper summarizes the main tax provisions in OECD countries that affect the overall “tax wedge” between pre-tax returns on investments, and the post-tax yield on the savings that finance them. This tax wedge is shown to vary widely, in individual countries, according to the different ways in which savings are channeled through financial markets. The paper then discusses alternative criteria for assessing tax regimes for financial assets, and summarizes recent trends in OECD countries.

Series:

Working Paper No. 1995/046

Subject:

Capital income Corporate income tax Effective tax rate Income tax systems National accounts Personal income Personal income tax Tax policy Taxes

English

Publication Date:

May 1, 1995

ISBN/ISSN:

9781451846515/1018-5941

Stock No:

WPIEA0461995

Pages:

32

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