Omar Chisari, Antonio Estache, Gaetan Nicodeme
Efficiency and Equity Effects of Taxing the Financial Sector: Lessons from a CGE Model for Belgium
Volume 72 (2016) / Issue 2, pp. 125-157 (33)
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This paper assesses the effects of applying a VAT or a sales tax on (intermediate or final) sales of the financial sector. It uses a computable general equilibrium (CGE) model calibrated for a small open economy. It highlights the differentiated sectorial and redistribution effects of these taxes and shows the importance of the financial openness of the economy on these results.