Single tax, an old ideal in Brazil.
Posted by Nadiva Olivier on July 18, 2009
Globalization is eroding the efficiency of conventional taxes, such as value added taxes. At the same time, a new form of taxation, levied on bank transactions, was used in Brazil (1993-2007) and proved to be evasion-proof, more efficient and less costly than orthodox tax models.
The significant revenue-raising capacity of bank transactions taxation revived the centuries old ideal of the single tax.
The book of Marcos Cintra, a Brazilian that is a full-professor and vice-president of the Getulio Vargas Foundation in Brazil, just launched in USA, carries out a qualitative and quantitative in-depth comparison of the efficiency, equity and compliance costs of a bank transactions tax relative to orthodox tax systems, and opens new perspectives for the use of modern banking technology in tax reform across the world.
Take a look at the Book at Amazon website: Bank transactions: pathway to single tax ideal.