1 Banks
Author: John Isaac
Language:
English
Keywords:
BOOK; VAT; bank; capital gain; taxation; lending bank; trading activity; loan suspense account; core share capital; taxable profit; Tax law; Loans; Distressed assets; Bank credit

Abstract

Traditionally, the core functions of banking were to (1) accept money from, and collect checks for, customers; (2) honor checks for orders drawn on them by customers; (3) keep current accounts, or something of that kind, in which customers’ debits and credits are entered; and, of course, (4) lend. Banks derived their income largely from the margin between the interest rates they paid on money deposited with them and the interest rates they charged on money lent by them.

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Cover Taxing the Financial Sector
Taxing the Financial Sector
Concepts, Issues, and Practice
Author: Mr. Howell H Zee
ISBN:
9781589063167
Publication Date:
16 Apr 2004
Publisher:
International Monetary Fund
DOI:
https://doi.org/10.5089/9781589063167.071
Pages:
93