Sumario: Interest Rates and Tax Treatment of Interest Income and Expense; Recent Literature on the Impact of Taxation and Inflation on Interest Rates; Recent Literature on the Impact of Taxation and Inflation on the International Financial; Level and Volatility of U.S. Interest Rates. Roles of Expected Inflation. Real Rates and Taxes; Inflation and the Incidence of Income Taxes on Interest Income in the United States 1972-81; Inflationary Expectations. Taxes and the Demand for Money in the United States; Inflation. Taxatiom and the Rate of interest in Eight Industrial Countries 1961-82; Financial Market Taxation and International Capitla Flows; Impact of Taxation on International Capital Flows. Some Empirical Results.