{
  "title": "Taxing the Financial Sector: Concepts, Issues, and Practice",
  "publication": "Books, April 16, 2004",
  "sourceUrl": "https://www.imf.org/en/publications/books/issues/2016/12/30/taxing-the-financial-sector-concepts-issues-and-practice-17007",
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  "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.",
  "sections": [
    {
      "heading": "Overview and scope",
      "content": "- Author: Howell H Zee\n- Publication date: April 16, 2004\n- Core focus: Challenges in tax policy for institutions, products, and services of the financial sector, including difficulties in ascertaining income, expenses, and profits for financial firms and the ease with which individuals and firms can manipulate financial transactions to exploit tax loopholes.\n- Areas examined: banks, insurance companies, securities companies, investment funds, pension funds, and derivatives."
    },
    {
      "heading": "Key findings and concepts",
      "content": "- Financial firms present measurement challenges relative to firms selling goods and services when determining:\n  - income\n  - expenses\n  - profits\n- Financial transactions create opportunities for tax avoidance and arbitrage due to their complexity and manipulability.\n- The volume identifies modern best practices for taxing different subsectors of the financial industry."
    },
    {
      "heading": "Subjects and thematic keywords",
      "content": "- Subjects listed: Financial institutions, Financial services, Income tax systems, Insurance, National accounts, Personal income, Taxes, Value-added tax\n- Keywords included (verbatim): 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\n\n---\n\n\nSource: https://www.imf.org/en/publications/books/issues/2016/12/30/taxing-the-financial-sector-concepts-issues-and-practice-17007"
    }
  ],
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    "Authors: Howell H Zee",
    "Published: April 16, 2004",
    "Series: Books",
    "DOI: https://doi.org/10.5089/9781589063167.071",
    "Author: Howell H Zee",
    "Publication date: April 16, 2004",
    "Core focus: Challenges in tax policy for institutions, products, and services of the financial sector, including difficulties in ascertaining income, expenses, and profits for financial firms and the ease with which individuals and firms can manipulate financial transactions to exploit tax loopholes.",
    "Areas examined: banks, insurance companies, securities companies, investment funds, pension funds, and derivatives.",
    "Financial firms present measurement challenges relative to firms selling goods and services when determining:",
    "Financial transactions create opportunities for tax avoidance and arbitrage due to their complexity and manipulability.",
    "The volume identifies modern best practices for taxing different subsectors of the financial industry.",
    "Subjects listed: Financial institutions, Financial services, Income tax systems, Insurance, National accounts, Personal income, Taxes, Value-added tax",
    "Keywords included (verbatim): 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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