Effective taxation of financial institutions: international comparison of practices

Аннотация

Most of advanced and developing economies review and re-examine the relevance of fiscal and banking policy
regimes due to systemic downturn in global financial crisis. Existing fiscal gap and financial market disorders led to the
introduction of new taxes and mandatory fees for banks for double edged reasons – bridging the fiscal gap and bank capital
regulation. In a harsh economic condition most banks required the governments to rethink the taxation policy for financial
institutions. Most policymakers and researchers are devising diverse proposals on optimal taxation which meet the needs of
both parties. This paper studies the international bank taxation policies and recent development, and examines the
opportunities of introduction of optimal taxation for banks in banking system of Uzbekistan.