Kerrigan, Arthur (2010): The elusiveness of neutrality – why is it so difficult to apply VAT to financial services? Published in: International VAT Monitor , Vol. 21, No. 2 (18. March 2010): pp. 103-112.
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Under the VAT system of the European Union, domestic supplies of financial services are exempt. That exemption has significant drawbacks, not least of which is that it compromises the neutrality of the tax. In this article, the author indicates how, depending on government policy views, margin-based financial services could be taxed. He also indicates how financial institutions could give new impetus to the discussion on the VAT treatment of the services in that sector.
|Item Type:||MPRA Paper|
|Original Title:||The elusiveness of neutrality – why is it so difficult to apply VAT to financial services?|
|Keywords:||VAT; Financial Services; neutrality; EU|
|Subjects:||K - Law and Economics > K3 - Other Substantive Areas of Law|
|Depositing User:||Arthur Kerrigan|
|Date Deposited:||18. May 2010 12:50|
|Last Modified:||14. Feb 2013 15:29|
Pasquale Pistone and Carlo Romano, “Report on 5th Sydney IFA Congress Proceeding”, Rivista di Diretto Tributario, Fasc. 11 – 2003.
Arthur Kerrigan, “The impact of VAT on financial services and insurances – the law of unintended consequences?”, Frontiers in Finance and Economics, Vol. 4 (200 ),No. 2.
Roy C. Smith and Ingo Walter,Global Banking (2003).
Satya N. Poddar and Morley English, “Taxation of Financial Services under a Value-Added Tax: Applying the Cash-Flow Approach”,National Tax Journal,Vol. L (199 ),No. 1.
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