A new measure of fiscal privilege is proposed which overcomes defects in Hills's earlier “Degree of Fiscal Privilege.” The measure is used to evaluate personal tax treatment of financial assets in India and wide differences in fiscal privilege are documented.
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References
1.
DAS-GUPTAA. (1987) “Personal taxation and rates of return to private financial savings in India.” New Delhi: National Institute of Public Finance and Policy. (mimeo)
2.
HILLSJOHN (1984) Savings and Fiscal Privilege.London: Institute for Fiscal Studies.
3.
KayJ. A. (1986) “Approaching an expenditure tax.” Fiscal Studies.7: 33-37.
