Financial Innovation and Taxation

Bertrand Lavayssière * Managing Director, zeb Consulting. Contact : Bertrand.Lavayssiere@zeb.co.uk.


Without claiming to be exhaustive this article attempts to illustrate some aspects of the relationship between finance and taxation. The subject is addressed through three viewpoints. The first one examines the relationship between fiscal decisions related to public budgets and their effects on the design or changes of financial products. The second one shows how some products are used in a creative way to optimize specific fiscal situations such as the level of profits or the amount of dividends. Finally the third viewpoint is about the creation of new markets linked to fiscal decisions, like the carbon tax.


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Footnotes

1   Source : Insurance Europe 2016.

1   Source : Insurance Europe 2016.

2   Donohoe M. P. (2015), « The Economic Effects of Financial Derivatives on Corporate Tax Avoidance », Journal of Accounting and Economics.

2   Donohoe M. P. (2015), « The Economic Effects of Financial Derivatives on Corporate Tax Avoidance », Journal of Accounting and Economics.

3   

Échantillon d'entreprises :

  • source : base de données EDGAR de la SEC/NY/NYC Form 10-K ;

  • année 2000-2008 ;

  • total de 17 446 observations d'entreprises sur huit ans, soit environ 2 000 par an.

3   

Échantillon d'entreprises :

  • source : base de données EDGAR de la SEC/NY/NYC Form 10-K ;

  • année 2000-2008 ;

  • total de 17 446 observations d'entreprises sur huit ans, soit environ 2 000 par an.

4   Sources : Banque mondiale, IETA.

4   Sources : Banque mondiale, IETA.


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