Valuation for the purposes of a wealth tax electrónico Stephen Daly, Helen Hughson, Glen Loutzenhiser
By: Daly, Stephen
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Contributor(s): Helen Hughson | Loutzenhiser, Glen.
Material type: 
ArticleSubject(s): IMPUESTO SOBRE EL PATRIMONIO | VALORACIONES FISCALES | RIQUEZA | RENTAS ALTAS | IMPUESTOS
In:
Fiscal Studies v. 42, issue 3-4, September-December 2021, p. 615-650Summary: This paper considers the scale and prevalence of valuation issues under a wealth tax. Valuation issues are frequently cited in the literature as the most difficult aspect of wealth taxes. We examine some of the most problematic asset types from a valuation perspective. We also consider a range of solutions to manage these concerns, drawing on international experience and the approaches already taken for other taxes within the UK system. We conclude that satisfactory options for arriving at a value for wealth tax purposes are available even for the most problematic assets. We also estimate that the absolute number of taxpayers likely to pay substantial valuation fees is small, and that, in aggregate, valuation costs could be contained to around 0.1 per cent or less of total chargeable assets, even if they are substantial for some individual taxpayers.
| Item type | Current location | Home library | Call number | Status | Date due | Barcode |
|---|---|---|---|---|---|---|
| Recursos electrónicos | IEF | IEF | OP 1472/2021/3/4-8 (Browse shelf) | Available | OP 1472/2021/3/4-8 |
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| OP 1472/2021/3/4-5 Behavioural responses to a wealth tax | OP 1472/2021/3/4-6 Why were most wealth taxes abandoned and is this time different? | OP 1472/2021/3/4-7 Who should pay a wealth tax? | OP 1472/2021/3/4-8 Valuation for the purposes of a wealth tax | OP 1472/2021/3/4-9 The costs of administering a wealth tax | OP 1472/2022/1 Fiscal Studies | OP 1472/2022/1-1 Who does and doesn't pay taxes? |
Resumen.
Disponible en el en formato electrónico en el Repositorio de la Biblioteca del IEF.
This paper considers the scale and prevalence of valuation issues under a wealth tax. Valuation issues are frequently cited in the literature as the most difficult aspect of wealth taxes. We examine some of the most problematic asset types from a valuation perspective. We also consider a range of solutions to manage these concerns, drawing on international experience and the approaches already taken for other taxes within the UK system. We conclude that satisfactory options for arriving at a value for wealth tax purposes are available even for the most problematic assets. We also estimate that the absolute number of taxpayers likely to pay substantial valuation fees is small, and that, in aggregate, valuation costs could be contained to around 0.1 per cent or less of total chargeable assets, even if they are substantial for some individual taxpayers.
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