1887

Addressing Tax Risks Involving Bank Losses

image of Addressing Tax Risks Involving Bank Losses

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 in 17 OECD countries; describes the tax risks that arise in relation to bank losses from the perspective of both banks and revenue bodies; outlines the incentives that give rise to those risks; and describes the tools revenue bodies have to manage these potential compliance risks. It concludes with recommendations for revenue bodies and for banks on how risks involving bank losses can best be managed and reduced.

English

.

Tools available to revenue bodies to address compliance risks in relation to bank tax losses

This chapter summarises the tools available to revenue bodies to address compliance risks in relation to bank tax losses. It assesses the benefit of encouraging responsible tax reporting through co-operation and dialogue, the role of rulings, clearances and disclosure rules, and the role of audits, supported by international exchange of information and co-operation between revenue bodies and between revenue and regulatory authorities.

English

This is a required field
Please enter a valid email address
Approval was a Success
Invalid data
An Error Occurred
Approval was partially successful, following selected items could not be processed due to error