Addressing Tax Risks Involving Bank Losses
By: Organisation for Economic Co-operation and Development
Publisher: OECD Publishing
Published: 2010
Place of publication: Paris
Language: eng
Format: [electronic resource] /
Number of pages: 88
ISBN-13: 9789264088689
Subjects: Taxation
Description: The financial and economic crisis had a devastating impact on bank profits, with loss-making banks reporting global commercial losses of around USD 400 billion in 2008.  This comprehensive report sets the market context for bank losses and provides an overview of the tax treatment of such losses in 17 OECD countries; describes the tax risks that arise in relation to bank losses from the perspective of both banks and revenue bodies; outlines the incentives that give rise to those risks; and describes the tools revenue bodies have to manage these potential compliance risks. It concludes with recommendations for revenue bodies and for banks on how risks involving bank losses can best be managed and reduced.
Table of contents: title: Foreword; title: Executive Summary; title: Setting the context for current levels of bank tax losses; title: Potential scale/fiscal cost of banks' tax losses; title: Summary of country rules in relation to taxation of bank losses; title: Main issues for banks in relation to tax losses; title: Compliance/tax risk issues for revenue bodies in relation to bank tax losses; title: Tools available to revenue bodies to address compliance risks in relation to bank tax losses; title: Conclusions and recommendations; title: Annex A. Country rules in relation to taxation of bank losses; title: Glossary of acronyms and technical terms.