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Unusual Taxes

In: Taxation History, Theory, Law and Administration

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  • Parthasarathi Shome

    (London School of Economics
    International Tax Research and Analysis Foundation)

Abstract

Countries occasionally introduce taxes to plug loopholes elsewhere in their tax systems and to enhance revenue generation. A tax on financial transactions has been contemplated at a global level though not successfully, but has been used in Latin America in different forms such as in Argentina and Brazil. Argentina removed it and Brazil kept it in the statutes at a zero rate. Subsequently, India too introduced a tax on bank withdrawals but then abolished it. The design, economic effects, revenue productivity and collection costs of this tax are analysed. A tax on fringe benefits has been used in Australia and New Zealand. There is some justification for this tax when fringe benefits are not voluntarily reported as a part of the income tax base and tax paid on it. India introduced a well-designed tax on fringe benefits though its administration proved challenging. Hence it was removed. This chapter examines the conceptual basis of these taxes and takes up India as a case study.

Suggested Citation

  • Parthasarathi Shome, 2021. "Unusual Taxes," Springer Texts in Business and Economics, in: Taxation History, Theory, Law and Administration, edition 1, chapter 26, pages 301-317, Springer.
    • Handle: RePEc:spr:sptchp:978-3-030-68214-9_26
    DOI: 10.1007/978-3-030-68214-9_26
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