Co-operation needed to boost savings
KPMG report calls for tax incentives to save
Governments and global finance companies need to co-operate if they are to
successfully lift personal savings levels, a KPMG report has found.
The ‘Future of the saver’ survey concludes that the market for personal
savings must be treated as an international, rather than a domestic market.
KPMG analysed the taxation of savings in the 12 largest economies and efforts
by international bodies to promote cross-boarder savings and prevent tax
Governments need to acknowledge that people are starting to hold savings in
multiple jurisdictions and start to consider effective tax structures for
The report calls for harmonisation in the ways that savings are taxed between
different countries so as not to discourage cross-border savers.