The closing of tax loopholes is one important instrument for fiscal consolidation. We concentrate on the value added tax exemption of banking services in Germany. The potential tax revenue under full value added taxation cannot be estimated from national accounting data, as it is necessary to...

In Germany, the tax loss carry-forward of corporations significantly increased over the last decade. At the same time only a small percentage of losses have been effectively offset. One potential reason for this puzzle is that stricter loss offset restrictions have been introduced in recent...

In Germany, the tax loss carry-forward of corporations significantly increased over the last decade. At the same time only a small percentage of losses have been effectively offset in the following periods. One potential reason for this puzzle is that stricter loss offset restrictions have been...

The closing of tax loopholes is one important instrument for fiscal consolidation. We concentrate on the value added tax exemption of banking services in Germany. The potential tax revenue under full value added taxation cannot be estimated from national accounting data, as it is necessary to...

Value Added Tax (VAT) is a type of indirect tax that is imposed on goods and services. In one of the most important reforms of the country’s public finances in over the past 50 years, India has finally launched much delayed Value Added Tax (VAT) from 1st April, 2005 in 21 states. VAT has...