Impuesto a las Transacciones Financieras: Proyecto de Ley del Aporte Solidario Nacional
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Publisher:Ohio State University. Department of Agricultural, Environmental, and Development Economics
Series/Report no.:Ohio State University. Department of Agricultural Economics and Rural Sociology. ESO (Economics and Sociology Occasional Paper). No. 1947
This paper reviews arguments in favor and against a tax on the flow of all bank deposits proposed by a Costa Rican legislator. The impact on the efficiency of financial intermediation is highlighted. Estimation of expected revenues is obtained on the basis of the price elasticity of the demand for deposits. Severe contraction of the tax base may prevent this tax from achieving its fiscal purposes, while important distortions in financial intermediation would slow down the rate of growth of the economy.