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Combining Dutch Presumptive Capital Income Tax and US Qualified Intermediaries to Set Forth a New System of International Savings Taxation

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  • Marcel Gérard

Abstract

Beyond the traditional debates over information exchange vs flat taxation at source, legislative advances have produced interesting innovations and suggestions concerning how to tax international savings. We examine some of these advances, which we then use to set forth and investigate a proposal for European and international savings taxation. That proposition combines the outcome of a recent Dutch reform and lessons from the US qualified intermediaries mechanism. We show that such a system exhibits the same desirable properties as exchange of information, but potentially at reduced compliance cost, and is sustainable within a repeated game framework.

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  • Marcel Gérard, 2004. "Combining Dutch Presumptive Capital Income Tax and US Qualified Intermediaries to Set Forth a New System of International Savings Taxation," CESifo Working Paper Series 1340, CESifo Group Munich.
  • Handle: RePEc:ces:ceswps:_1340
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    References listed on IDEAS

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    1. Wolfgang Eggert & Martin Kolmar, 2004. "The Taxation of Financial Capital under Asymmetric Information and the Tax-competition Paradox," Scandinavian Journal of Economics, Wiley Blackwell, vol. 106(1), pages 83-106, March.
    2. Bacchetta, Philippe & Espinosa, Maria Paz, 1995. "Information sharing and tax competition among governments," Journal of International Economics, Elsevier, vol. 39(1-2), pages 103-121, August.
    3. Peter Sørensen, 1994. "From the global income tax to the dual income tax: Recent tax reforms in the Nordic countries," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 1(1), pages 57-79, February.
    4. Gordon, Roger H, 1992. " Can Capital Income Taxes Survive in Open Economies?," Journal of Finance, American Finance Association, vol. 47(3), pages 1159-1180, July.
    5. Huizinga, Harry & Nielsen, Soren Bo, 2003. "Withholding taxes or information exchange: the taxation of international interest flows," Journal of Public Economics, Elsevier, vol. 87(1), pages 39-72, January.
    6. Wolfgang Eggert & Martin Kolmar, 2000. "Residence-based Capital Taxation: Why Information is Voluntarily Exchanged and why it is not," CESifo Working Paper Series 402, CESifo Group Munich.
    7. Philippe Bacchetta & María Espinosa, 2000. "Exchange-of-Information Clauses in International Tax Treaties," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 7(3), pages 275-293, May.
    8. Slemrod, Joel, 2004. "Are corporate tax rates, or countries, converging?," Journal of Public Economics, Elsevier, vol. 88(6), pages 1169-1186, June.
    9. Cnossen,Sijbren, 2002. "Tax policy in the european union, A review of issues and options," Research Memorandum 023, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    10. Gerard, Marcel & Hadhri, Moncef, 1994. "The European Tax Game and Welfare," Public Finance = Finances publiques, , vol. 49(Supplemen), pages 211-231.
    11. Sijbren Cnossen, 2002. "Tax Policy in the European Union: A Review of Issues and Options," CESifo Working Paper Series 758, CESifo Group Munich.
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    Keywords

    European Union; international taxation; savings income;

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