Should Financial Services Be Taxed Under a Consumption Tax? Probably

Donald Rousslang

National Tax Journal, 2002, vol. 55, issue 2, 281-291

Abstract: Previous authors have concluded that a broad-based consumption tax would be more efficient if financial services to consumers, such as services for investment, loans and insurance, were exempted from the tax, even if taxing the financial services posed no special administrative burden. I argue, however, that this conclusion rests on some key assumptions and that alternative, equally plausible assumptions support the conclusion that, absent any special administrative burden, the tax rate on financial services to consumers should be at least as high as the tax rate on consumer goods.

Date: 2002
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Persistent link: https://EconPapers.repec.org/RePEc:ntj:journl:v:55:y:2002:i:2:p:281-291

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