The Resource A new approach to taxing financial intermediation services under a value-added tax

A new approach to taxing financial intermediation services under a value-added tax

Label
A new approach to taxing financial intermediation services under a value-added tax
Title
A new approach to taxing financial intermediation services under a value-added tax
Creator
Subject
Language
eng
Summary
This paper contains a proposal (referred to as the "modified reverse-charging" approach) to tax financial intermediation services under a VAT. At the heart of the proposal is the application of a reverse charge that shifts the collection of the VAT on deposit interest from depositors to banks, in conjunction with the establishment of a franking mechanism managed by banks that effectively transfers the VAT so collected to borrowers as credits against the VAT on their loan interest on a transaction-by-transaction basis. The proposal is fully compatible with an invoice-credit VAT and is capable of delivering the correct theoretical result at minimal administrative costs
Citation source
In: National tax journal. - Washington. - Vol. LVIII (2005),
Geographic coverage
North America
Language note
English
Label
A new approach to taxing financial intermediation services under a value-added tax
Instantiates
Publication
Label
A new approach to taxing financial intermediation services under a value-added tax
Publication

Library Locations

    • IBFD Library AmsterdamBorrow it
      Rietlandpark 301, Amsterdam, 1019 DW, NL
      52.37366609999999 4.9336932
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