The Taxation of Financial Assets: A Survey of Issues and Country Experiences
May 1, 1995
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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.
Subject: Capital income, Corporate income tax, Effective tax rate, Income tax systems, National accounts, Personal income, Personal income tax, Tax policy, Taxes
Keywords: accrued income, Capital income, Effective tax rate, financial asset taxation, g capital gain, Global, income tax, Income tax systems, Personal income, Personal income tax, rate of return, tax relief, tax return, tax system, tax treatment of financial assets, withholding tax, WP
Pages:
32
Volume:
1995
DOI:
Issue:
046
Series:
Working Paper No. 1995/046
Stock No:
WPIEA0461995
ISBN:
9781451846515
ISSN:
1018-5941
