Taxation of the Financial Sector: Robin Hood Taxes and Regulatory Framework

Acta Juridica Hungarica, Vol. 54, No. 3/2013, pp. 237-254

18 Pages Posted: 7 Jan 2014

See all articles by Daniel Deak

Daniel Deak

Corvinus University of Budapest

Date Written: January 6, 2014

Abstract

The so-called bank levy – a tax levied on bank leverage – has been proliferated to date. They are the product of reacting to the global financial crisis that started in the autumn of 2008. Therefore, they can only be understood in the context of the crisis. Since one or two decades, the financial industry has produced much innovation that is to be reflected in taxation. The application of bank levy is thus the result of the reforms initiated in the sphere of financial regulation rather than tax law. Financial and tax laws are different from each other in many respects, however, as it will be discussed below where the constitutional background for the introduction of financial taxes will be explored. In this paper, bank levies; one of the newly introduced financial taxes – are in the centre of interest. In this respect, the paper concerns policy options and regulatory framework.

Keywords: Bank leverage taxation, Robin Hood taxes, ex ante and ex post measures

JEL Classification: K34

Suggested Citation

Deak, Daniel, Taxation of the Financial Sector: Robin Hood Taxes and Regulatory Framework (January 6, 2014). Acta Juridica Hungarica, Vol. 54, No. 3/2013, pp. 237-254, Available at SSRN: https://ssrn.com/abstract=2375364

Daniel Deak (Contact Author)

Corvinus University of Budapest ( email )

Fovam ter 8
Budapest, H-1093
Hungary
+36(1)4825365 (Phone)

HOME PAGE: http://www.uni-corvinus.hu/~ddeak

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