Interest income tax evasion, the EU savings directive, and capital market effects
The Savings Directive has been celebrated as a major political break-through in coordinating taxation in Europe. Against this background, the present paper evaluates the real-world effects of this directive. The directive has left a loophole by providing grandfathering (exemption from withholding tax) for some securities. In this paper we compare the pre-tax returns of exempt bonds and comparable taxable bonds. If working around the Savings Directive is difficult for tax evaders in Europe, then investors should be willing to pay a premium for bonds that are exempt from the withholding rate. Co... Mehr ...
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Dokumenttyp: | doc-type:workingPaper |
Erscheinungsdatum: | 2008 |
Verlag/Hrsg.: |
Munich: Center for Economic Studies and ifo Institute (CESifo)
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Schlagwörter: | ddc:330 / H24 / Savings Directive / interest taxation / tax capitalization / Austria / Belgium Luxembourg / Liechtenstein / Kapitalertragsteuer / EU-Steuerrecht / Steuerkapitalisierung / Steuerwirkung / Rentenmarkt / Steuerflucht / EU-Staaten / Österreich / Belgien / Luxemburg |
Sprache: | Englisch |
Permalink: | https://search.fid-benelux.de/Record/base-26543585 |
Datenquelle: | BASE; Originalkatalog |
Powered By: | BASE |
Link(s) : | http://hdl.handle.net/10419/26345 |