Financial Innovation and Taxation

Without claiming to be exhaustive this article attempts to illustrate some aspects of the relationship between finance and taxation. The subject is addressed through three viewpoints. The first one examines the relationship between fiscal decisions related to public budgets and their effects on the design or changes of financial products. The second one shows how some products are used in a creative way to optimize specific fiscal situations such as the level of profits or the amount of dividends. Finally the third viewpoint is about the creation of new markets linked to fiscal decisions, like the carbon tax.