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VAT and Financial Supplies: What should be taxed?

Abstract:

The service provided by financial institutions such as banks is described as an "intermediary service", linking depositors with money to lend and borrowers seeking loan funds. Banks collect a fee for these services through the spread on interest they pay to depositors and charge to borrowers. At present, the VAT system operates in a complex way to impose a tax on this service that is lower than the full tax imposed on other services. As the VAT is intended to be a tax on final consumers on...

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Publication date:
2010-11-01
UUID:
uuid:a9aa79e8-d9d5-406f-afee-9739021ca0fe
Local pid:
oai:eureka.sbs.ox.ac.uk:606
Deposit date:
2011-05-19

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