Alternative Approaches to Taxing the Financial Sector: Wich is Best and Where Does Chile Stand?
In: Banking Market Structure and Monetary Policy
In contrast to the enthusiasm of some observers for sweeping reforms to financial sector taxation (such as abolishing taxation of capital income or introducing a universal transactions tax), this paper argues that practical policy needs to pay special attention to the potential for tax arbitrage, and to avoiding a system that is too sensitive to inflation. A review of the main features of Chile's financial sector taxation regime (in particular the stamp taxes on checks and on loans) against this background shows some strengths, though the rates are somewhat higher than would result from a VAT applied systematically to financial services at the standard rate.
(This abstract was borrowed from another version of this item.)
|This chapter was published in: Luis Antonio Ahumada & J. Rodrigo Fuentes & Norman Loayza (Series Editor) & Klaus Schmidt-Hebbel (Series Editor) (ed.) Banking Market Structure and Monetary Policy, , chapter 11, pages 315-344, 2004.|
|This item is provided by Central Bank of Chile in its series Central Banking, Analysis, and Economic Policies Book Series with number v07c11pp315-344.|
|Contact details of provider:|| Postal: Casilla No967, Santiago|
Phone: (562) 670 2000
Fax: (562) 698 4847
Web page: http://www.bcentral.cl/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Huizinga, Harry & Nicodeme, Gaetan, 2004.
"Are international deposits tax-driven,"
Journal of Public Economics,
Elsevier, vol. 88(6), pages 1093-1118, June.
- Huizinga, H.P. & Nicodeme, G., 2004. "Are international deposits tax-driven?," Other publications TiSEM 661fe169-5543-452b-b6c9-e, Tilburg University, School of Economics and Management.
- H. Huizinga & Ga�tan Nicod�me, 2001. "Are international deposits tax-driven?," European Economy - Economic Papers 152, Directorate General Economic and Financial Affairs (DG ECFIN), European Commission.
- Alain Laurin & Giovanni Majnoni, 2003. "Bank Loan Classification and Provisioning Practices in Selected Developed and Emerging Countries," World Bank Publications, The World Bank, number 15157.
- Martin Feldstein, 1983. "Inflation, Tax Rules, and Capital Formation," NBER Books, National Bureau of Economic Research, Inc, number feld83-1, March.
- Edgar L. Feige, 2000.
"Taxation for the 21st century: the automated payment transaction (APT) tax,"
CEPR;CES;MSH, vol. 15(31), pages 473-511, October.
- Edgar L. Feige, 2001. "Taxation for the 21st Century: The Automated Payment Transaction (APT) Tax," Public Economics 0106001, EconWPA.
- Edward J. Kane & Asli Demirguc-Kunt, 2001.
"Deposit Insurance Around the Globe: Where Does it Work?,"
NBER Working Papers
8493, National Bureau of Economic Research, Inc.
- Asli Demirguc-Kunt & Edward J. Kane, 2002. "Deposit Insurance Around the Globe: Where Does It Work?," Journal of Economic Perspectives, American Economic Association, vol. 16(2), pages 175-195, Spring.
- Demirguc-Kunt, Asl' & Kane, Edward J., 2001. "Depositinsurance around the globe : where does it work?," Policy Research Working Paper Series 2679, The World Bank.
When requesting a correction, please mention this item's handle: RePEc:chb:bcchsb:v07c11pp315-344. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Claudio Sepulveda)
If references are entirely missing, you can add them using this form.