VAT and Financial Services

1. Front Matter

   Pages i-xxxiii

   PDF

2. Establishing the VAT and Financial Supplies Benchmarks

   1. Front Matter

      Pages 1-1

      PDF

   2. Theories of Consumption and the Consequences of Partial Taxation of Financial Services

      • Robert F. van Brederode, Richard Krever

      Pages 3-11

3. Loans and Intermediary Services

   1. Front Matter

      Pages 13-13

      PDF

   2. Taxing Loan Intermediary Services: Theory and Design Considerations

      • Robert F. van Brederode, Richard Krever

      Pages 15-33

   3. Loan Intermediary Services: Argentina

      • Guillermo Teijeiro

      Pages 35-49

   4. Loan Intermediary Services: Australia

      • Richard Krever, Jonathan Teoh

      Pages 51-66

   5. Loan Intermediary Services: Brazil

      • Flavio Rubinstein

      Pages 67-86

   6. Loan Intermediary Services: Canada

      • Simon Thang

      Pages 87-108

   7. Loan Intermediary Services: China

      • Na Li, Richard Krever

      Pages 109-122

   8. Loan Intermediary Services: European Union

      • Joachim Englisch

      Pages 123-138

   9. Loan Intermediary Services: Israel

      • David Goldman

      Pages 139-158

   10. Loan Intermediary Services: New Zealand

       • Marie Pallot, Thomas Allen

       Pages 159-168

   11. Loan Intermediary Services: South Africa

       • Alwyn de Koker, Gerhard Badenhorst

       Pages 169-186

4. Financial Investments

   1. Front Matter

      Pages 187-187

      PDF

   2. VAT and Financial Investments

      • Richard Krever

      Pages 189-197

   3. VAT and Cost Sharing in the EU

      • Ine Lejeune, Joost Vermeer, Simon Cornielje

      Pages 199-222

   4. A VAT/GST Perspective on Crowdfunding

      • Sebastian Pfeiffer

      Pages 223-255

   5. Financial Investments: European Union

      • Joachim Englisch

      Pages 257-299

   6. Financial Investments: South Africa

      • Alwyn de Koker, Gerhard Badenhorst

      Pages 301-316

This book explains the theoretical and policy issues associated with the taxation of financial services and includes a jurisdictional overview that illustrates alternative policy choices and the legal consequences of those choices . The book addresses the question: how can financial services in an increasingly globalized market best be taxed through VAT while avoiding economic distortions? It supports the discussion of the key practical problems that have arisen from the particular complexity of the application of VAT to financial services, and allows for the evaluation of best practice by comparing the major current reform models now being implemented.

• VAT and Financial Supplies
• VAT and Gambling
• VAT and Insurance
• VAT and Loans
• Comparative Tax Law
• Consumption Tax
• Cost-sharing
• Crowdfunding
• Exempt Financial Supplies
• Financial Intermediation Service
• Financial Pooling Service
• Financial Service
• Goods and Services Tax (GST)
• Insurance Company
• Intangible Asset
• Internet Gambling
• Tax Law
• Tax Policy
• Value Added Tax (VAT)
• Zero-rating Financial Supplies

“In the complex world of VAT and GST and in the complex world of finance, this book is an indispensable guide.” (Charlene-A. Herbain, Intertax, Vol. 46 (5), 2018)​

• Crowe Horwath LLP , ATLANTA, USA

  Robert F. van Brederode

• Monash University , Melbourne, Australia

  Richard Krever

Robert van Brederode is a tax lawyer, practitioner and scholar specializing in international tax and global indirect taxes, currently serving as Crowe Horwath International’s global indirect tax leader. Previously, he held executive positions in tax with several of the largest accounting firms. He also served as assistant professor at Maastricht University, School of Law; professor at the Erasmus University, Department of Economics; and adjunct professor at New York University, School of Law.


Richard Krever is a professor in the Department of Business Law and Taxation at Monash University. He is the director of the Taxation Law and Policy Research Group and specialises in taxation law and policy. In addition to his academic work, Richard has provided assistance under the auspices of the World Bank, International Monetary Fund, Asian Development Bank, and other international organisations to finance ministries and tax offices in a wide range of jurisdictions.

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