Scientific journal NRU ITMO
Series "Economics and Environmental Management"
Registration certificate ЭЛ № ФС 77 – 55411 от 17.09.2013
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ISSN:2310-1172

September 2016 (published: 30.09.2016)

Number 3(26)

Home > Issue > Models of taxation of income from bank deposits and their relation with the volume of household savings

UDC 336.22

Models of taxation of income from bank deposits and their relation with the volume of household savings

Pokrovskaia N.V.

We study taxation of income from bank deposits in various countries, as well as the relationship between the tax system and the significance of bank deposits in the national financial system. We analyze the ratio of bank deposits to GDP in countries with developed and underdeveloped financial markets and peculiarities of income from bank deposits taxation in the countries included in the analysis. Special attention was paid to the characteristics of income on bank deposits taxation in countries with economies in transition. It is concluded that there is a link between the level bank deposits in country and the tax system with respect on income from bank deposits. In many countries with a low ratio of bank deposits to GDP, income on bank deposits are exempted from tax or taxed at rates substantially below the base. At the same time, in some countries with economies in transition, were attempts to realize the potential of regulatory taxation to encourage household savings.
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Keywords: tax, bank deposit, tax on personal income, income from bank deposits, savings.

DOI 10.17586/2310-1172-2016-9-3-57-64

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