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Taxation of Household Savings

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This report provides a detailed review of the taxation of household savings in 40 OECD and partner countries. It examines the different approaches that countries take to taxing household savings, and calculates marginal effective tax rates on a wide range of savings vehicles (including bank accounts, bonds, shares, private pensions and housing) to assess the impact of these approaches on savings behaviour. It examines asset holdings across income and wealth distributions to help assess the distributional impact of savings taxation, and discusses recent changes in the exchange of information for tax purposes between tax administrations. It also draws out a range of implications from this analysis for savings tax policy as part of an inclusive growth tax agenda.

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International aspects of the taxation of household savings

This chapter discusses the taxation of household savings from an international perspective, and considers the impact of exchange of financial account information between tax administrations on the taxation of capital income internationally. The chapter discusses the recent adoption and expansion of exchange of information in detail, highlighting the dramatic increase in the coverage of exchange of information networks. The automatic exchange of information is likely to make it harder for taxpayers to engage in tax evasion and may reduce the distortions involved in levying taxes on capital income. The chapter also highlights potential challenges that remain with respect to ensuring the coherent taxation of capital income on a residence basis in an international context.

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