Description: This papers considers the effects of taxing nominal rather than real returns from short term deposits. A system for taxing real returns is developed. The possible results from a change in the method of taxation, to the one proposed in the paper are discussed. From Actuarial Research Clearing House 1991, VOL. 1.

Description: India is in the process of updating to a more risk-based capital framework. The article provides a high level introduction of the development and discusses some of the key design and implementation considerations.