Taxation of capital gains of individuals: policy considerations and approaches: 14 (OECD tax policy studies)

This book Investigates Policy Considerations In The Taxation Of Capital Gains Of Individuals And Design Features Of Capital Gains Tax Systems. Perspectives On These Are Reported For 20 Oecd Countries. Descriptive Information On Aspects Of Capital Tax Rules For Gains On Domestic Assets Of Resident Investors Are Presented In Summary Tables Covering All Oecd Countries. Executive Summary -- Introduction -- Chapter 1. Central Tax Policy Consideratons In The Treatment Of Capital Gains -- -securing Tax Revenues -- Efficiency Considerations Including Lock-in Effects -- Contributing To Horizontal And Vertical Equity -- Encouraging Savings And Promoting Enterprise -- Containing Taxpayer Compliance And Tax Administration Costs -- Chapter 2. Additional Policy Considerations In The Treatment Of Capital Gains -- -possible Capital Gains Tax (cgt) Effects On Risk Taking -- Possible Capital Gains Tax Effects On The Cost Of Capital And Corporate Financial Policy -- Chapter 3. Capital Gains Tax Design Issues -- -realisation Vs. Accrual Taxation -- Applicable Tax Rate (pit Vs. Separate Cgt) -- Ring-fenced Treatment Of Loses -- Rollover Provisions -- Treatment Of Personal Residence -- Treatment Of The Inflation Component Of Nominal Capital Gains -- Treatment Of Non-residents -- Transitional Considerations -- References -- Annex A. Review Of Possible Lock-in Effects Of Cgt -- Annex B. Measures Of Risk Aversion -- Annex C. Review Of Possible Cgt Effects On Portfolio Allocation (risk Effects) -- Annex D. Review Of Possible Cgt Effects On Corporate Financial Policy -- Also Published In French Under The Title: L'imposition Des Gains En Capital Des Personnes Physiques : Enjeux Et Méthodes. This Report Has Been Prepared By W. Steven Clark--foreword. Includes Bibliographical References. This report investigates policy considerations in the taxation of capital gains of individuals and design features of capital gains tax systems. Perspectives on these are reported for 20 OECD countries (Australia, Canada, Czech Republic, Denmark, Finland, Germany, Iceland, Ireland, Italy, Luxembourg, Mexico, the Netherlands, New Zealand, Norway, Portugal, Slovak Republic, Spain, Sweden the United Kingdom and the United States). Descriptive information on aspects of capital tax rules for gains on domestic assets of resident investors are presented in summary tables covering all OECD countries. Insights of policy makers are provided for policy considerations highlighted as central to decision-making over the tax treatment of capital gains of individuals, including tax revenue concerns and possible "lock-in" effects. Also reviewed are policy-makers' assessments of possible influences of capital gains taxation on risk-taking by individuals, and on financing and profit distribution policies of firms. A number of design considerations are addressed, with information provided on certain main provisions of capital gains tax systems.--Publisher's description