Addressing Tax Risks Involving Bank Losses

Business & Finance, Accounting, Taxation, Finance & Investing
Cover of the book Addressing Tax Risks Involving Bank Losses by Collective, OECD
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Author: Collective ISBN: 9789264088689
Publisher: OECD Publication: September 15, 2010
Imprint: OECD Language: English
Author: Collective
ISBN: 9789264088689
Publisher: OECD
Publication: September 15, 2010
Imprint: OECD
Language: English

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.

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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.

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