Addressing tax risks involving bank losses

Resource Information

The work Addressing tax risks involving bank losses represents a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation. This resource is a combination of several types including: Work, Language Material, Continuing Resources.

Label

Addressing tax risks involving bank losses

Creator

• Lloyd, G
• Russo, R. (Raffaele)

Subject

• banking
• losses
• risk management

Language

eng

Summary

Following its reports "Study into the Role of Tax Intermediaries" and "Building Transparent Tax Compliance by Banks," the OECD has published the report "Addressing Tax Risks Involving Bank Losses." In the wake of the financial and economic crisis, the report examines tax risks involving bank losses from the perspective of both taxpayers and revenue bodies. The report concludes that: - losses represent a significant potential tax risk both for banks and revenue bodies; - commercial awareness of the context of bank losses, and of tax and nontax (for example, regulatory) drivers is fundamental; - the complexity of country loss, and loss relief, rules, and the potential opportunities for banks to exploit differences between country rules through aggressive tax planning, are themselves a source of tax risk; and - countries are now applying a variety of tools to address the compliance risks regarding bank losses. The report makes a number of recommendations to revenue bodies and to banks as to how tax risks involving bank losses might be further reduced

Citation source

In: Tax notes international. - Falls Church. - Vol. 60 (2010),

Geographic coverage

International

Language note

English