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The Taxation of Financial Assets: A Survey of Issues and Country Experiences
Author:
Mr. John R King
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Mr. Vito Tanzi
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Series:
IMF Working Papers
Volume/Issue:
Volume 1995: Issue 046
Language:
English
Publication Date:
01 May 1995
DOI:
https://doi.org/10.5089/9781451846515.001
ISBN:
9781451846515
ISSN:
1018-5941
Pages:
32
Keywords:
WP; income tax; withholding tax; tax system; tax relief; tax treatment of financial assets; rate of return; accrued income; tax return; financial asset taxation; g capital gain; Income tax systems; Personal income tax; Personal income; Effective tax rate; Capital income; Global
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IMF Working Papers describe research in progress by the author(s) and are published to elicit comments and to encourage debate. The views expressed in IMF Working Papers are those of the author(s) and do not necessarily represent the views of the IMF, its Executive Board, or IMF management.
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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.
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Cover IMF Working Papers
IMF Working Papers
ISSN:
1018-5941
Publisher:
International Monetary Fund
Volume 1995: Issue 046