International Financial Flows And Transactions Taxes
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Financial Transactions Taxes
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Author : Mr.Parthasarathi Shome
language : en
Publisher: International Monetary Fund
Release Date : 1995-08-01
Financial Transactions Taxes written by Mr.Parthasarathi Shome and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-08-01 with Business & Economics categories.
Financial transactions taxes have recently gained attention as a possible means to influence the behavior of financial markets and to reduce destabilizing capital flows. One variation is a tax on all foreign currency conversions, often termed a “Tobin tax.” This paper suggests that these taxes would probably not produce the desired effects and would be difficult to design and implement. It is unclear that the possible advantages in reducing some short-term speculative trading would outweigh the possible disadvantages in impairing the efficiency of financial markets. From an administrative perspective, without a broad international consensus and application, these taxes are likely to be easily avoided.
International Financial Flows And Transactions Taxes
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Author : Mr.P. Bernd Spahn
language : en
Publisher: International Monetary Fund
Release Date : 1995-06-01
International Financial Flows And Transactions Taxes written by Mr.P. Bernd Spahn and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995-06-01 with Business & Economics categories.
Tobin has suggested that exchange rate volatility be controlled through a tax on international financial transactions. This analysis shows that the Tobin tax as a pure transaction tax is not viable. The tax would impair financial operations and create international liquidity problems. It is also unlikely to deter speculation. However, a possible alternative would be a two-tier rate structure—consisting of a low-rate transaction tax plus an exchange surcharge. The exchange rate could move freely within a “crawling” exchange rate band, but overshooting the band would trigger a tax on an “externality,” which is the discrepancy between the market exchange rate and the closest margin of the band. The scheme is inspired by the European Monetary System. However, exchange rates would be kept within the target range through a tax, not through interest policy or central bank sterilization and, eventually, the depletion of international reserves.
Taxation In The Global Economy
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Author : Assaf Razin
language : en
Publisher: University of Chicago Press
Release Date : 2008-04-15
Taxation In The Global Economy written by Assaf Razin and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-04-15 with Business & Economics categories.
The increasing globalization of economic activity is bringing an awareness of the international consequences of tax policy. The move toward the common European market in 1992 raises the important question of how inefficiencies in the various tax systems—such as self-defeating tax competition among member nations—will be addressed. As barriers to trade and investment tumble, cross-national differences in tax structures may loom larger and create incentives for relocations of capital and labor; and efficient and equitable income tax systems are becoming more difficult to administer and enforce, particularly because of the growing importance of multinational enterprises. What will be the role of tax policy in this more integrated world economy? Assaf Razin and Joel Slemrod gathered experts from two traditionally distinct specialties, taxation and international economics, to lay the groundwork for understanding these issues, which will require the attention of scholars and policymakers for years to come. Contributors describe the basic provisions of the U.S. tax code with respect to international transactions, highlighting the changes contained in the U.S. Tax Reform Act of 1986; explore the ways that tax systems influence the decisions of multinationals; examine the effect of taxation on trade patterns and capital flows; and discuss the implications of the opening world economy for the design of optimal international tax policy. The papers will prove valuable not only to scholars and students, but to government economists and international tax lawyers as well.
The Treatment Of Companies Under Cash Flow Taxes
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Author : Emil McKee Sunley
language : en
Publisher: World Bank Publications
Release Date : 1989
The Treatment Of Companies Under Cash Flow Taxes written by Emil McKee Sunley and has been published by World Bank Publications this book supported file pdf, txt, epub, kindle and other format this book has been release on 1989 with Capital movements categories.
Cash flow taxes eliminate many of the problems of the corporate income tax, but they have significant administrative, transitional, and international problems, especially for developing countries.
Studies In International Taxation
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Author : Alberto Giovannini
language : en
Publisher: University of Chicago Press
Release Date : 2007-12-01
Studies In International Taxation written by Alberto Giovannini and has been published by University of Chicago Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2007-12-01 with Business & Economics categories.
As a united global economy evolves, economists and policymakers are forced to consider whether the current system of taxing income is inconsistent with the trend toward liberalized world financial flows and increased international competition. To help assess existing tax policies and incentives, this volume presents new research on how taxes affect the investment and financing decisions of multinationals today. The contributors examine the effects of taxation on decisions about international financial management, business investment, and international income shifting. They consider the influence of tax rules on dividend policy decisions within multinationals; the extent to which tax incentives affect the level and location of research and development across countries; and the fact that foreign-controlled companies operating in the United States pay lower taxes than do domestically controlled companies. The contributors to this volume are Rosanne Altshuler, Alan J. Auerbach, Neil Bruce, Timothy Goodspeed, Roger H. Gordon, Harry Grubert, Bronwyn H. Hall, David Harris, Kevin Hassett, James R. Hines Jr., Roy D. Hogg, Joosung Jun, Jeffrey K. Mackie-Mason, Jack M. Mintz, Randall Morck, John Mutti, T. Scott Newlon, James M. Poterba, Joel Slemrod, Deborah Swenson, G. Peter Wilson, and Bernard Yeung.
International Taxation Of Banking
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Author : John Abrahamson
language : en
Publisher: Kluwer Law International B.V.
Release Date : 2020-02-20
International Taxation Of Banking written by John Abrahamson and has been published by Kluwer Law International B.V. this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-02-20 with Law categories.
Banking is an increasingly global business, with a complex network of international transactions within multinational groups and with international customers. This book provides a thorough, practical analysis of international taxation issues as they affect the banking industry. Thoroughly explaining banking’s significant benefits and risks and its taxable activities, the book’s broad scope examines such issues as the following: taxation of dividends and branch profits derived from other countries; transfer pricing and branch profit attribution; taxation of global trading activities; tax risk management; provision of services and intangible property within multinational groups; taxation treatment of research and development expenses; availability of tax incentives such as patent box tax regimes; swaps and other derivatives; loan provisions and debt restructuring; financial technology (FinTech); group treasury, interest flows, and thin capitalisation; tax havens and controlled foreign companies; and taxation policy developments and trends. Case studies show how international tax analysis can be applied to specific examples. The Organisation for Economic Co-operation and Development Base Erosion and Profit Shifting (OECD BEPS) measures and how they apply to banking taxation are discussed. The related provisions of the OECD Model Tax Convention are analysed in detail. The banking industry is characterised by rapid change, including increased diversification with new banking products and services, and the increasing significance of activities such as shadow banking outside current regulatory regimes. For all these reasons and more, this book will prove to be an invaluable springboard for problem solving and mastering international taxation issues arising from banking. The book will be welcomed by corporate counsel, banking law practitioners, and all professionals, officials, and academics concerned with finance and its tax ramifications.
International Financial Flows And Transactions Taxes
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Author : Paul Bernd
language : en
Publisher:
Release Date : 1995
International Financial Flows And Transactions Taxes written by Paul Bernd and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1995 with categories.
The Tobin Tax
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Author : Mahbub ul Haq
language : en
Publisher: Oxford University Press
Release Date : 1996-07-11
The Tobin Tax written by Mahbub ul Haq and has been published by Oxford University Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 1996-07-11 with Business & Economics categories.
In his 1972 Janeway Lectures at Princeton, James Tobin, the 1981 Nobel Prize winner for economics, submitted a proposal for a levy on international currency transactions. The idea was not greeted with enthusiasm, as the 1970s were a period of optimism and confidence in floating exchange rages. Yet, whenever currency crises erupted during the past decades, the proposal for a levy on international currency transactions would once again arise. In the 1990s, two additional facts have sharpened interest in the Tobin tax proposal. First is the growing volume of foreign exchange trading. Second, interest is coming not only from policymakers and experts concerned with the smooth functioning of financial markets. It is shared by those concerned with public financing of development--the fiscal crisis of the state as well as the growing need for international cooperation on problems such as the environment, poverty, peace and security. This work makes a systematic analysis of the proposal for a foreign exchange transactions levy. Its chapters examine the economic desirability of such a levy, its technical and political feasibility, its revenue potential, the possible uses of that revenue, and related administrative and institutional aspects.
Globalization Of International Financial Markets
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Author : Hak-Min Kim
language : en
Publisher: Routledge
Release Date : 2019-07-05
Globalization Of International Financial Markets written by Hak-Min Kim and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-07-05 with Business & Economics categories.
First published in 1999, this volume investigates the causes and consequences of globalization of international financial markets, including all types of private sector capital for 121 countries over the period 1980-1990. This includes portfolio investment, bank capital and FDI. Hak-Min Kim identifies pronounced patterns in short-term capital flows along with effective means of stimulating capital, including the provision of new financial instruments, advanced telecommunication networks, and improved country risk management. Kim suggests that collective international efforts from organizations are necessary to develop financial markets and improve global equity.
Tax Policy And The Asian Crisis
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Author : Mr.David C. L. Nellor
language : en
Publisher: International Monetary Fund
Release Date : 1999-02-01
Tax Policy And The Asian Crisis written by Mr.David C. L. Nellor and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 1999-02-01 with Business & Economics categories.
This paper focuses on tax policy and the crisis in Asia in the context of globalization and technological change. Two sets of conclusions, specific tax reform measures and general lessons from the crisis, form the tax policy agenda on these issues. The complexity and volume of financial transactions, associated with the opening of emerging markets, have made tax administration a more challenging task. Just as strengthening financial systems must be a precursor to capital account liberalization, tax administrations clearly also require strengthening in such an environment. In many emerging markets the capacity to tax capital returns is limited. Tax administrators need to understand and monitor complex financial transactions that grew rapidly due both to financial sector liberalization and technological innovation. Traditional difficulties for tax administrators, such as transfer pricing, that had often been limited to natural resource sectors in developing economies, took on wider importance as local companies gained sophistication and developed offshore operations.