—The discussion about causes of financial and
economic crisis has focused also on tax consequences and
measures. Taxes have not generated the crisis, but some aspects
of tax policy may have led to increased risk-taking and
indebtedness of banks, households and companies. The aim of
the paper is to review main channels through which the tax
policy can affect financial markets and financial stability.
Attention is focused on taxation of financial institutions, tax
reliefs for housing and for capital gains, tax preference for
corporate debt financing. The paper examines last development
and also current regulation and tax measures realized by
national policymakers and European Commission with the goal
to avoid future crises. The paper employs standard methods of
scientific paper; mainly the method of description and
—Crisis, corporate debt financing, reliefs for
housing, taxation of financial institutions.
I. Szarowská is with the Silesian University, School of Business
Administration, Univerzitni nam. 1934, 73340 Karvina, Czech Republic
(e-mail: szarowska@ opf.slu.cz).
Cite:Irena Szarowská, "Can Tax Policy Contribute to the Crisis?," Journal of Economics, Business and Management vol. 2, no. 2, pp. 125-129, 2014.