Bank Debit Taxes in Latin America [electronic resource] : An Analysis of Recent Trends, Coelho, Isaias.
- Washington, D.C. : International Monetary Fund, 2001.
- IMF eLibrary
IMF Working Papers; Working Paper No. 01/67.
IMF Working Papers; Working Paper No. 01/67
- Government document
1 online resource (33 p.)
- Local subjects:
- Accounting systems.
Deposit money banks.
Derivative financial instruments.
Interest rate futures.
International capital markets.
Money market funds.
Money market operations.
New york stock exchange.
Stock market transactions.
Venezuela, República Bolivariana de.
- Six Latin American countries have levied taxes on withdrawals from bank accounts, which have been viewed as a convenient tax handle during a difficult fiscal period. The paper reviews the arguments for and against this type of taxation, describes the taxes, and surveys their revenue performance and economic impact. It concludes that the recently implemented taxes have been successful in raising revenue in the short term, but that adverse allocational impacts have likely been significant. The tax may work better in times of fiscal crisis, when financial intermediation is deep, and when the tax rate is modest.
- Description based on print version record.
- Coelho, Isaias.
Ebrill, Liam P.
Summers, Victoria P.
- Other format:
- Print Version:
- Publisher Number:
- Access Restriction:
- Restricted for use by site license.
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