International Financial Flows And Transactions Taxes

Author : Mr.P. Bernd Spahn
Publisher : International Monetary Fund
Page : 62 pages
File Size : 41,7 Mb
Release : 1995-06-01
Category : Business & Economics
ISBN : 9781451847994

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International Financial Flows and Transactions Taxes by Mr.P. Bernd Spahn Pdf

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.

Author : Mr.Parthasarathi Shome,Ms.Janet Gale Stotsky
Publisher : International Monetary Fund
Page : 21 pages
File Size : 50,8 Mb
Release : 1995-08-01
Category : Business & Economics
ISBN : 9781451849950

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Financial Transactions Taxes by Mr.Parthasarathi Shome,Ms.Janet Gale Stotsky Pdf

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.

Author : Alex Cobham,Petr Jansky,Petr Jánský
Publisher : Oxford University Press
Page : 224 pages
File Size : 46,9 Mb
Release : 2020
Category : Commercial crimes
ISBN : 9780198854418

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Estimating Illicit Financial Flows by Alex Cobham,Petr Jansky,Petr Jánský Pdf

Illicit financial flows constitute a global phenomenon of massive but uncertain scale, which erodes government revenues and drives corruption in countries rich and poor. This book offers a critical examination of existing data and methodologies, identifying the most promising avenues for future improvement.

Author : Harry Huizinga
Publisher : International Monetary Fund
Page : 32 pages
File Size : 52,8 Mb
Release : 1996-11
Category : Business & Economics
ISBN : UCSD:31822023519168

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The Taxation Implicit in Two-Tiered Exchange Rate Systems by Harry Huizinga Pdf

Different exchange rates on capital and current transactions can be interpreted as separate taxes on international capital flows and goods trade. A two-tiered system of this kind enables tax authorities to tax domestic money and other financial assets at different implicit rates. This paper presents some evidence on the tax rates and tax revenues implicit in the exchange rate systems of the Bahamas (from 1978 to 1995), the Dominican Republic (from 1970 to 1984) and South Africa (from 1973 to 1995).

Author : Nina Gillmann
Publisher : GRIN Verlag
Page : 210 pages
File Size : 48,8 Mb
Release : 2012-08-08
Category : Business & Economics
ISBN : 9783656980940

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International Capital Flows: Economic Impact and Policy Implications by Nina Gillmann Pdf

Diploma Thesis from the year 2000 in the subject Economics - Finance, grade: 1, Christian-Albrechts-University of Kiel, language: English, abstract: This paper deals with three highly controversial aspects in the international finance literature: the degree of international financial integration, the economic impact of capital mobility, and the potential role of capital controls in the emerging international financial architecture. Regarding the first aspect, many observers have been influenced by the recent hype about “globalisation” and in fact take it for granted that capital markets have become almost fully integrated into a world financial marketplace. This paper, reviews evidence that challenges this conventional wisdom, though confirming that the degree of international financial integration is rising. With respect to the second aspect, it is demonstrated that there are circumstances under which the free flow of international capital could negatively impact upon economic performance and/or otherwise welfare-enhancing domestic policies. This finding conflicts with traditional theory and provides an economic rationale for the judicious introduction of capital controls. With this assertion in mind, the final aspect, the role of capital controls, is investigated. The specific question explored is how far restrictions on international capital flows are able to avert a costly economic imbalance arising from fluctuations in the balance of payments. Although the international consensus seems to have shifted in recent years towards promoting Chilean-style capital controls as a potential new building block in the international financial landscape, this paper cautions against such a generalisation of the Chilean experience. Rather, a review of the empirical literature suggests that much of Chile‘s economic success story in the last decade can be explained by factors other than its control regime. The rising degree of international financial integration enhances the need for small countries to resolve their dilemma of being dependent on external funding and, at the same time, most vulnerable to sudden reversals of international capital flows. Yet, simple solutions of how to counterbalance the potential threats of capital mobility in a second-best equilibrium, are not found to be easily forthcoming. In particular, this paper argues that capital controls are no panacea – even less so, if they delay necessary macro- and microeconomic reforms.

Author : Ilene Grabel
Publisher : Unknown
Page : 19 pages
File Size : 50,7 Mb
Release : 2003
Category : Capital movements
ISBN : 9291905534

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The Revenue and Double Dividend Potential of Taxes on International Private Capital Flows and Securities Transactions by Ilene Grabel Pdf

Author : [Anonymus AC08741538]
Publisher : Unknown
Page : 44 pages
File Size : 50,8 Mb
Release : 2010
Category : Electronic
ISBN : 927918735X

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Financial sector taxation by [Anonymus AC08741538] Pdf

"The global economic and financial crisis has created important needs for fiscal consolidation. This document analyses potential instruments to raise additional tax revenues from the financial sector. The first section reviews the current policy objectives related to the taxation of the financial sector. The second section sheds some light on the current tax treatment of the financial sector. The third section discusses potential tax instruments to reach the goals. The fourth and fifth section respectively assess the advantages and drawbacks of a Financial Transaction Tax and a Financial Activities Tax."--Editor.

Author : Assaf Razin,Joel Slemrod
Publisher : University of Chicago Press
Page : 456 pages
File Size : 52,6 Mb
Release : 2008-04-15
Category : Business & Economics
ISBN : 9780226705880

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Taxation in the Global Economy by Assaf Razin,Joel Slemrod Pdf

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.

Author : OECD
Publisher : OECD Publishing
Page : 128 pages
File Size : 40,5 Mb
Release : 2014-04-23
Category : Electronic
ISBN : 9789264203501

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Illicit Financial Flows from Developing Countries Measuring OECD Responses by OECD Pdf

This publication identifies the main areas of weakness and potential areas for action to combat money-laundering, tax evasion, foreign bribery, and to identify, freeze and return stolen assets.

Author : International Monetary Fund
Publisher : International Monetary Fund
Page : 180 pages
File Size : 50,5 Mb
Release : 1997-01-01
Category : Business & Economics
ISBN : 9781455216567

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Coordinated Portfolio investment Survey by International Monetary Fund Pdf

This paper presents a coordinated portfolio investment survey guide provided to assist national compilers in the conduct of the Coordinated Portfolio Investment Survey, conducted under the auspices of the IMF with reference to the year-end 1997. The guide covers a variety of conceptual issues that a country must address when conducting a survey. It also covers the practical issues associated with preparing for a national survey. These include setting a timetable, taking account of the legal and confidentiality issues raised, developing a mailing list, and maintaining quality control checks.

Author : Tax Justice Network-Africa
Publisher : Fahamu/Pambazuka
Page : 95 pages
File Size : 50,5 Mb
Release : 2011-10-20
Category : Business & Economics
ISBN : 9780857490421

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Tax Us If You Can by Tax Justice Network-Africa Pdf

This short introduction to issues of tax justice explains the meaning and causes of tax injustice and offers options for a better future. Providing insight into the specific failures of Africa s tax systemand the associated problems of capital flight, tax evasion, tax avoidance, and tax competitionthis book explores the role of governments, parliaments, and taxpayers, and asks how stakeholders can help achieve tax justice. Arguing that tax revenues are essential for establishing independent states of free citizens, it demonstrates how the tax consensus promoted by multilateral agencies, such as the World Bank and the International Monetary Fund, has influenced tax policy in Africa and led to a reduction in government revenues in many countries. "

Author : World Bank Group
Publisher : World Bank Publications
Page : 304 pages
File Size : 43,8 Mb
Release : 2017-01-23
Category : Business & Economics
ISBN : 9781464809514

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World Development Report 2017 by World Bank Group Pdf

Why are carefully designed, sensible policies too often not adopted or implemented? When they are, why do they often fail to generate development outcomes such as security, growth, and equity? And why do some bad policies endure? World Development Report 2017: Governance and the Law addresses these fundamental questions, which are at the heart of development. Policy making and policy implementation do not occur in a vacuum. Rather, they take place in complex political and social settings, in which individuals and groups with unequal power interact within changing rules as they pursue conflicting interests. The process of these interactions is what this Report calls governance, and the space in which these interactions take place, the policy arena. The capacity of actors to commit and their willingness to cooperate and coordinate to achieve socially desirable goals are what matter for effectiveness. However, who bargains, who is excluded, and what barriers block entry to the policy arena determine the selection and implementation of policies and, consequently, their impact on development outcomes. Exclusion, capture, and clientelism are manifestations of power asymmetries that lead to failures to achieve security, growth, and equity. The distribution of power in society is partly determined by history. Yet, there is room for positive change. This Report reveals that governance can mitigate, even overcome, power asymmetries to bring about more effective policy interventions that achieve sustainable improvements in security, growth, and equity. This happens by shifting the incentives of those with power, reshaping their preferences in favor of good outcomes, and taking into account the interests of previously excluded participants. These changes can come about through bargains among elites and greater citizen engagement, as well as by international actors supporting rules that strengthen coalitions for reform.

Author : John Abrahamson
Publisher : Kluwer Law International B.V.
Page : 448 pages
File Size : 48,9 Mb
Release : 2020-02-20
Category : Law
ISBN : 9789403510958

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International Taxation of Banking by John Abrahamson Pdf

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.

Author : Friedl Weiss,Erik Denters,Paul de Waart
Publisher : BRILL
Page : 606 pages
File Size : 40,6 Mb
Release : 2023-12-18
Category : Law
ISBN : 9789004637474

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International Economic Law with a Human Face by Friedl Weiss,Erik Denters,Paul de Waart Pdf

International Economic Law with a Human Face addresses a vital question in contemporary international economies: the design, structure and content of the legal and institutional framework within an increasingly globalized civil society and market economy. It is based on the belief that liberalized global markets cannot be expected to provide the public goods required to secure the acquis communautaire for human rights worldwide, let alone to extend those rights to peoples hitherto deprived of their benefits. Scholars from Europe, America, Asia and Australia examine a variety of aspects of relevant state practice in a fresh and stimulating manner. They combine `international social critique' of state practice with ideas for `social engineering', offering critical legal analysis and ideas about policy options for setting standards to induce legal change and development. International Economic Law with a Human Face is a `user-friendly' book. Twenty-seven chapters are sub-titled and arranged under three main headings: Towards a new human and economic order (chapters 1-8); Trade, environmental protection and resource management (chapters 9-18); and Investment and finance (chapters 19-27). It also contains a detailed Table of Contents and an Index.

Author : Gerald K. Helleiner
Publisher : Commonwealth Secretariat
Page : 44 pages
File Size : 53,8 Mb
Release : 1998
Category : Business & Economics
ISBN : 0850925398

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Private Capital Flows and Development by Gerald K. Helleiner Pdf

This paper considers the new forms and roles of private capital flows to developing countries in the 1990s and appropriate national and international policy responses to the problems and possibilities they create. Section 2 describes the growth of these flows in the 1990s, their role in development and some of their effects in recipient countries. Section 3 considers alternate capital account policies for developing countries. In section 4 the possibility of improved international arrangements is considered. Section 5 contains recommendations from the previous analysis.