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...

This publication complements Bank Profitability: Financial Statements of Banks. The notes included in this volume were prepared to facilitate the comprehension and the interpretation of the statistics and to provide a brief description of the activities of banks in each country.

This Report was prepared by the Committee on Fiscal Affairs to consider ways to improve international co-operation with respect to the exchange of information in the possession of banks and other financial institutions for tax purposes.