Contents -- Cover -- Tilte -- Foreword xi -- Preface xiii -- Contributors xv -- 1. Avoiding the Pitfalls in Taxing Financial Intermediation 1 -- PART I: THEORETICAL AND SYSTEM-WIDE ISSUES -- 2. Theoretical Perspectives on the Taxation of Capital Income and Financial Services 31 -- 3. Taxation of Banks: Modeling the Impact 81 -- 4. Tax Incentives for Household Saving and Borrowing 127 -- 5. Corrective Taxes and Quasi-Taxes for Financial Institutions and Their Interaction with Deposit Insurance 169 -- PART II: PRACTICAL EXPERIENCE -- 6. Taxation of Financial Intermediation in Industrial Countries 197 -- 7. Seigniorage, Reserve Requirements, and Bank Spreads in Brazil 241 -- 8. Taxation of Financial Intermediaries as a Source of Budget Revenue: Russia in the 1990s 269 -- PART III: PARTICULAR TAXES -- 9. Corporate Income Tax Treatment of Loan-Loss Reserves 291 -- 10. Bank Debit Taxes: Yield Versus Disintermediation 313 -- 11. Securities Transaction Taxes and Financial Markets 325 -- 12. Consumption Taxes: The Role of the Value-Added Tax 345 -- 13. The Accidental Tax: Inflation and the Financial Sector 381 -- Index 421 -- TABLES -- FIGURES.