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Policy Forum: The Financial Activities Tax

Author

Listed:
  • Michael Keen

    (Fiscal Affairs Department, International Monetary Fund (IMF), Washington, DC)

  • Russell Krelove

    (Fiscal Affairs Department, International Monetary Fund (IMF), Washington, DC)

  • John Norregaard

    (Formerly with the IMF, now an independent consultant)

Abstract

This article considers key issues in the design of a financial activities tax, which is an addition-based value-added tax (VAT) applied to financial activities. The form of FAT discussed in the article by no means resolves all the difficulties associated with exemption within an invoice-credit form of VAT, but principle and such limited experience as exists suggest that it may offer a useful way ahead when more perfect solutions are not available.

Suggested Citation

  • Michael Keen & Russell Krelove & John Norregaard, 2016. "Policy Forum: The Financial Activities Tax," Canadian Tax Journal, Canadian Tax Foundation, vol. 64(2), pages 389-400.
    • Handle: RePEc:ctf:journl:v:64:y:2016:i:2:p:389-400
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    File URL: https://www.ctf.ca/EN/Publications/CTJ_Contents/2016CTJ2.aspx
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    Citations

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    Cited by:

    1. Gale, William G., 2020. "Raising Revenue with a Progressive Value-Added Tax," MPRA Paper 99197, University Library of Munich, Germany.
    2. Guillermo Peña, 2019. "Efficient treatment of banking services under VAT," Economics and Business Letters, Oviedo University Press, vol. 8(2), pages 115-121.

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