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Encyclopedia > Tax rate

A tax (also known as a "duty"or Zakat in islamic economics) is a charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state (e.g., tribes, secessionist movements or revolutionary movements). Taxes could also be imposed by a subnational entity. Look up Levy in Wiktionary, the free dictionary Levy may refer to: forced labor; see conscription or national service a form of tax A misspelling of Levi A misspelling of levee See List of people by name: Lev for people named Levy. ... A legal entity is a legal construct through which the law allows a group of natural persons to act as if it were an individual for certain purposes. ... A state is an organized political community, occupying a territory, and possessing internal and external sovereignty, which successfully claims the monopoly on the use of force. ... Viewed historically or developmentally, a tribe consists of a social formation existing before the development of, or outside of, states. ... Secession is the act of withdrawing from an organization, union, or political entity. ... This article is in need of attention. ... Subnational entity is a generic term for an administrative region within a country — on an arbitrary level below that of the sovereign state — typically with a local government encompassing multiple municipalities, counties, or provinces with a certain degree of autonomy in a varying number of matters. ...


Taxes may be part of a direct tax or indirect tax, and may be paid in money or as corvée labor. In modern, capitalist taxation systems, taxes are levied in money, but in-kind and corvée taxation are characteristic of traditional or pre-capitalist states and their functional equivalents. A direct tax a tax that is collected directly by government from the persons (legal or natural) on which it is levied. ... An indirect tax (such as sales tax, value added tax (VAT), or goods and services tax (GST)) is collected from the person who bears the tax by intermediaries and the proceeds passed on to government. ... An example of Money. ... Corvée, or corvée labor, is a term used in feudal societies. ... In economics, a capitalist is someone who owns capital, presumably within the economic system of capitalism. ...


The means of taxation, and the uses to which the funds raised through taxation should be put, are a matter of hot dispute in politics and economics, so discussions of taxation are frequently tendentious. Politics, sometimes defined as the art and science of government. ... Buyers bargain for good prices while sellers put forth their best front in Chichicastenango Market, Guatemala. ...


Public finance is the field of political science / economics that deals with taxation. Public finance (government finance) is the field of economics that deals with budgeting the revenues and expenditures of a public sector entity, usually government. ...

Contents


A history of taxation

Political authority has been used to raise capital throughout history. In many pre-monetary societies, such as the Incan empire, taxes were owed in labor (see Mita). Taxation in labor was the basis of the Feudal system in medieval Europe. For other meanings of Inca, see Inca (disambiguation). ... Mita was mandatory public service by society in ancient South America. ... Feudalism comes from the Late Latin word feudum, itself borrowed from a Germanic root *fehu, a commonly used term in the Middle Ages which means fief, or land held under certain obligations by feodati. ... Europe is conventionally considered one of the seven continents of Earth which, in this case, is more a cultural and political distinction than a physiographic one, leading to some dispute as to Europes actual borders. ...


In more sophisticated economies such as the Roman Empire, tax farming developed, as the central powers could not practically enforce their tax policy across a wide realm. The tax farmers were obligated to raise large sums for the government, but were allowed to keep whatever else they raised. Many Christians have understood the New Testament to support the payment of taxes, through Jesus's words "Render unto Caesar the things that are Caesar's". It is even recognized as a duty whether as a "telos" on merchandise or travelers (Matthew 17:25), an annual "phoros" on property tax (Luke 20:22;23:2), a "kensos" or poll tax (Matthew 22:17, Mark 12:14), or the tribute money of a temple-tax (Matthew 17:24-27). Other Christians, such as Christian anarchists, hold a contrary interpretation. For other senses of this name, see Roman Empire (disambiguation). ... Tax farming, occurring historically in Egypt, Rome, Great Britain, the Greater Middle East and Greece, was the principle of giving the responsibility of tax collection to citizens or groups, rather than the government. ... See New Covenant for the concept translated as New Testament in the KJV. The New Testament, sometimes called the Greek Testament or Greek Scriptures, and, in recent times, also New Covenant, is the name given to the part of the Christian Bible that was written in the first centuries of... Jesus (8-2 BC/BCE – 29-36 AD/CE),[1] also known as Jesus of Nazareth, is the central figure of Christianity, in which context he is known as Jesus Christ, where Christ is a Greek title meaning Anointed, corresponding to the Hebrew term Messiah. The main sources of information... A tribute (from Latin tribulum, contribution) is wealth one party gives to another as a sign of respect or, as was often case in historical contests, of submission or allegiance. ... Christian anarchism (also known as Christian libertarianism) is the belief that the only source of authority to which Christians are ultimately answerable is God, embodied in the teachings of Jesus. ...


There were certain times in the Middle Ages where the governments did not explicitly tax, since they were self supporting, owning their own land and creating their own products. The appearance of doing without taxes was however illusory, since the government's (usually the Crown's) independent income sources depended on labour enforced under the feudal system, which is a tax exacted in kind. The Middle Ages formed the middle period in a traditional schematic division of European history into three ages: the classical civilization of Antiquity, the Middle Ages, and modern times, beginning with the Renaissance. ... The Crown is a term which is used to separate the government authority and property of the state in a kingdom from any personal influence and private assets held by the current Monarch. ...


Many taxes were originally introduced to fund wars and are still in place today, such as those raised by the American government during the American Civil War (1861-1865) and the telephone tax instigated at the start of World War I (War Tax Revenue Act of 1914). Income tax was first introduced into Britain in 1798 to pay for weapons and equipment in preparation for the Napoleonic wars and into Canada in 1917 as a "temporary" tax under the Income War Tax Act to cover government expenses resulting from World War I. Combatants United States of America Confederate States of America Commanders Abraham Lincoln† Ulysses S. Grant Jefferson Davis Robert E. Lee Strength 2,213,363 1,064,200 Casualties KIA: 110,100 Total dead: 359,500 Wounded: 275,200 KIA: 94,000 Total dead: 258,000 Wounded: 137,000+  The American... 1861 is a common year starting on Tuesday. ... 1865 (MDCCCLXV) is a common year starting on Sunday. ... Combatants Allies: Serbia, Russia, France, Romania, Belgium, British Empire, United States, Italy, and others Central Powers: Germany, Austria-Hungary, Bulgaria, Ottoman Empire Casualties Military dead:5 million Civilian dead:3 million Total dead:8 million Military dead:4 million Civilian dead:3 million Total dead:7 million World War I... 1914 (MCMXIV) was a common year starting on Thursday. ... An income tax is a tax levied on the financial income of persons or corporations. ... 1798 was a common year starting on Monday (see link for calendar). ... Combatants Allies: • United Kingdom, • Prussia, • Austria, • Sweden, • Russia • France • Denmark-Norway • Poland Casualties Full list Full list The Napoleonic Wars were a series of wars fought during Napoleon Bonapartes rule over France. ... 1917 (MCMXVII) was a common year starting on Monday of the Gregorian calendar (see link for calendar) or a common year starting on Tuesday of the 13-day slower Julian calendar. ...


The current income tax in America was set up by Woodrow Wilson in 1913. It was called The Federal Income Tax and was deducted from incomes at rates varying from 1-7%. But, since then, the American Tax Code has been modified and new taxes have been added, especially over the World War I and II periods. Since World War I, the American Tax Code has increased in size four-fold. 1913 (MCMXIII) was a common year starting on Wednesday. ...


Purposes and effects of taxation

Funds provided by taxation have been used by states and their functional equivalents throughout history to carry out the functions such as:

Most modern governments also use taxes to fund welfare and public services, such as: In military science, defense (or defence) is the art of preventing an enemy from conquering territory. ... Law (from the late Old English lagu of probable North Germanic origin) in politics and jurisprudence, is a set of rules or norms of conduct which mandate, proscribe or permit specified relationships among people and organizations, intended to provide methods for ensuring the impartial treatment of such people, and provide... In urban planning, the notion of public order refers a city containing relatively empty (and orderly) spaces; which allow for flexibility in redesiging the citys layout; such perceptions played an important role in the establishments of suburbs. ... // Use of the term The concept of property or ownership has no single or universally accepted definition. ... A typical rural county road in Indiana, USA, where traffic drives on the right. ... Legal tender or forced tender is payment that cannot be refused in settlement of a debt denominated in the same currency by virtue of law. ... The notion of internal improvements or public works is a concept in economics and politics. ... ... Public services is a term usually used to mean services provided by government to its citizens, either directly (through the public sector) or by financing private provision of services. ...

Colonial states and moderning states have also used cash taxes to draw or force reluctant subsistence producers into cash economies. Education encompasses teaching and learning specific skills, and also something less tangible but more profound: the imparting of knowledge, good judgement and wisdom. ... A healthcare system is the organization by which health care is provided. ... The examples and perspective in this article or section may not represent a worldwide view. ... Unemployment benefits are sums of money given to the unemployed by the government or a compulsory para-governmental insurance system. ... LLGHHHHHHHHHK BNMNKBV JKVGKJJH JHVG KJVH KJV KJV JKV JV JV KJFYG KHV KJV gfnnnnnnnnnnhngjkv jh b ... Waste management is the collection, transport, processing or disposal of waste materials, usually ones produced by human activity, in an effort to reduce their effect on human health or local aesthetics or amenity. ... A taxi serving as a bus Public transport comprises all transport systems in which the passengers do not travel in their own vehicles. ...


Governments use different kind of taxes and vary the tax rates:

  • to distribute the tax burden between individuals or classes of the population involved in taxable activities, such as business,
  • to redistribute resources between individuals or classes in the population. Historically, the nobility were supported by taxes on the poor; modern social security systems are intended to support the poor, the disabled or the retired by taxes on those who are still working,
  • to influence the macroeconomic performance of the economy (the government's strategy for doing this is called its fiscal policy) (see also tax exemption),
  • to modify patterns of consumption or employment within an economy, by making some classes of transaction more or less attractive.

The resource taken from the public through taxation is always somewhat greater than the amount which can be used by the government. The difference is called compliance cost, and includes for example the labour cost and other expenses incurred in complying with tax laws and rules. Wall Street, Manhattan In economics, business refers to the social science of managing people to organize and maintain collective productivity toward accomplishing particular creative and productive goals. ... The Lords and Barons prove their Nobility by hanging their Banners and exposing their Coats-of-arms at the Windows of the Lodge of the Heralds. ... For specific national programs, see Social Security (United States), National insurance (UK), Social Security (Sweden) Social security primarily refers to a field of social welfare concerned with social protection, or protection against socially recognized conditions, including poverty, old age, disability, unemployment, families with children and others. ... Macroeconomics is the study of the entire economy in terms of the total amount of goods and services produced, total income earned, the level of employment of productive resources, and the general behavior of prices. ... Fiscal policy is the economic term which describes the actions of a government in setting the level of public expenditure and how that expenditure is funded. ... A tax exemption is an exemption to the tax law of a state or nation in which part of the taxes that would normally be collected from an individual or an organization are instead foregone. ...


The collection of a tax in order to spend it on a specified purpose, for example collecting a tax on alcohol to pay directly for alcoholism rehabilitation centres, is called hypothecation. This practice is often disliked by finance ministers, since it reduces their freedom of action. Some economic theorists consider the concept to be intellectually dishonest since in reality money is fungible. Furthermore, it often happens that taxes or excises initially levied to fund some specific government programs are then later diverted to the government general fund. In some cases, such taxes are collected in fundamentally inefficient ways, for example highway tolls. Hypothecation is a pledge of property as security for a debt without transfer of possession. ... The finance minister is a cabinet position in a government. ... Fungibility is a measure of how easily a good maybe exchanged for another good. ...


Some economists, especially neo-classical economists argue that all taxation distorts the market and results in economic inefficiency. They have therefore sought to identify the kind of tax system that would minimise this distortion. A theory is that the most economically neutral tax is a tax on land. A government's primary duty is to maintain and defend title to land, and therefore it should collect most of its revenues for this unique service. Since governments also resolve commercial disputes, especially in countries with common law, this doctrine is often used to justify a sales tax or value added tax. Others (e.g. libertarians) argue that most or all forms of taxes are immoral due to their involuntary (and therefore eventually coercive/violent) nature. The most extreme anti-tax view is anarcho-capitalism, in which the provision of all social services should be a matter of voluntary private contracts. Neoclassical economics is the grouping of a number of schools of thought in economics. ... A physical marketplace in Portugal enables buyers and sellers of produce to do business with each other. ... Land Value Taxation (LVT) is the policy of raising state revenues by charging each landholder a portion of the value of a site or parcel of land that would exist even if that site had no improvements. ... This article concerns the common-law legal system, as contrasted with the civil law legal system; for other meanings of the term, within the field of law, see common law (disambiguation). ... A sales tax is a tax on consumption. ... Value added tax (VAT) is a sales tax levied on the sale of goods and services. ... This article is about the classical liberal individualist philosophy that strongly emphasizes private property rights conjoined with civil liberties. ... Anarcho-capitalism refers to an anti-statist philosophy that embraces capitalism as one of its foundational principles. ... A contract is a promise or an agreement that is enforced or recognized by the law. ...


Tax rates

Taxes are most often levied as a percentage, called the tax rate, of a certain value, the tax base (how much income and assets one has, earns, spends, inherits, etcetera). An ad valorem tax is one where the tax base is the value of a good, service, or property. Sales taxes, tariffs, property taxes, inheritance taxes, and value added taxes are different types of ad valorem tax. An ad valorem tax is typically imposed at the time of a transaction (sales tax or value added tax (VAT)) but it may be imposed on an annual basis (property tax) or in connection with another significant event (inheritance tax or tariffs). An alternative to ad valorem taxation is an excise tax, where the tax base is the quantity of something, regardless of its price: for example, in the United Kingdom, a tax is collected on the sale of alcoholic drinks that is calculated by volume and beverage type rather than the price of the drink. An Ad valorem tax is a tax based on the assessed value of real estate or personal property. ...


An important distinction when talking about tax rates is to distinguish between the marginal rate and the average rate. The average rate is the total tax paid divided by the total amount the tax is paid on, while the marginal rate is the rate paid on the next dollar of income earned. In a “progressive” tax system, these can be very different. For example, if income is taxed on a formula of 5% from $0 up to $49,999, 10% from $50,000 to $99,999, and 15% over $100,000, a taxpayer with income of $175,000 would pay a total of $18,750: In the tax system and in economics, the marginal tax rate refers to the increase in ones tax obligation as ones taxable income rises: marginal tax rate = Δ(tax obligation)/Δ(taxable income) This can be measured either by looking at the published tax tables (to get the official marginal...

((0.05*50,000) + (0.10*50,000) + (0.15*75,000))
=18,750

His average rate would be 10.7%:

(18,750/175,000)
= 0.107

However, his marginal rate would be 15%.


"Proportional", "Progressive", and "Regressive" taxation

An important feature of tax systems is whether they are proportional tax (the tax as a percentage of income is constant over all income levels), progressive tax (the tax as a percentage of income rises as income rises), or regressive tax (the tax as a percentage of income falls as income rises). Progressive taxes reduce the tax incidence of people with smaller incomes, as they shift the incidence disproportionately to those with higher incomes. A flat tax, also called a proportional tax, is a system that taxes all entities in a class (typically either citizens or corporations) at the same rate (as a proportion of income), as opposed to a graduated, or progressive, scheme. ... A progressive tax, or graduated tax, is a tax that is larger as a percentage of income for those with larger incomes. ... To meet Wikipedias quality standards, this article or section may require cleanup. ...


Direct and indirect taxation

Taxes are sometimes referred to as direct tax or indirect tax. The meaning of these terms can vary in different contexts, which can sometimes lead to confusion. In economics, direct taxes refer to those taxes that are collected from the people or organizations on whom they are ostensibly imposed. For example, income taxes are collected from the person who earns the income. By contrast, indirect taxes are collected from someone other than the person ostensibly responsible for paying the taxes. A direct tax a tax that is collected directly by government from the persons (legal or natural) on which it is levied. ... An indirect tax (such as sales tax, value added tax (VAT), or goods and services tax (GST)) is collected from the person who bears the tax by intermediaries and the proceeds passed on to government. ...


The person or other entity from whom a tax is collected (i.e., the nominal "taxpayer") is a matter of law. However, who "pays" the tax (in the sense of who bears the ultimate economic burden of the tax) is determined by the market place and is found by comparing the price of the good (including tax) after the tax is imposed to the price of the good before the tax was imposed. For example, suppose the price of gas in the U.S., without taxes, were $2.00 per gallon. Suppose the U.S. government imposes a tax of $0.50 per gallon on the gas. Forces of demand and supply will determine how that $0.50 tax burden is distributed among the buyers and sellers. For example, it is possible that the price of gas, after the tax, might be $2.40. In such a case, buyers would be paying $0.40 of the tax while the sellers would be paying $0.10 of the tax.


In law, the terms may have different meanings. In US constitutional law, for instance, direct taxes refer to poll taxes and property taxes, which are based on simple existence or ownership. Indirect taxes are imposed on rights, privileges, and activities. Thus, a tax on the sale of property would be considered an indirect tax, whereas the tax on simply owning the property itself would be a direct tax. A poll tax, head tax, soul tax, or capitation is a tax of a uniform, fixed amount per individual (as opposed to a percentage of income). ... // Property tax is an ad valorem tax that an owner of real estate or other property pays on the value of the thing taxed. ...


The distinction can be subtle, but it is important under US law. Until 1913 the United States Constitution required that all direct taxes be apportioned according to population. That is, if one state had twice the population of another state, then the direct tax revenue from that state had to be exactly twice that from the other state. In 1895, the US Supreme Court interpreted the income tax as a direct tax when applied to income from property, and struck down the tax as a result. (The ruling did not affect the status of income taxes on income from personal services, which continued to be classified as an excise, or indirect tax, not required to be apportioned. However, the Court ruled the entire income tax law invalid, including the tax on income from personal services, reasoning that Congress had not anticipated that only part of that particular law would be deemed enforceable.) 1913 (MCMXIII) was a common year starting on Wednesday. ... The United States Constitution is the supreme law of the United States of America. ... The Supreme Court of the United States is the highest judicial body in the U.S. and leads the judicial branch of the U.S. federal government. ...


The federal government then had no income tax until the Sixteenth Amendment was ratified in 1913. The Sixteenth Amendment removed the apportionment requirement for income taxes (whether considered direct or indirect). Amendment XVI (the Sixteenth Amendment) of the United States Constitution, authorizing income taxes in their present form, was ratified on February 3, 1913. ...


The apportionment requirement under the U.S. Constitution remains for other direct taxes, such as taxes on property by reason of ownership. Because there is no such national property tax under U.S. law, however, this legal restriction is not fiscally or politically significant.


Economics of Taxing a Good


Figure 1: Equilibrium

Figure 1 indicates a good without any government interference. This good could represent anything from apples to zippers. At this equilibrium quantity, Q1 units of the good are sold at price P1. Social surplus, here equal to the consumer plus the producer surplus producer surplus, is maximized (assuming no externalities). Image File history File links TaxEquilibrium. ... Binomial name Malus domestica Borkh. ... Closeup of the zipper on a pair of jeans A zipper (zip fastener or zip in Oxford English) is a device for temporarily joining two edges of fabric together. ... This page deals with the various forms of economic surplus, including producer, consumer, government, and social/total surplus. ... This page deals with the various forms of economic surplus, including producer, consumer, government, and social/total surplus. ...


Figure 2: With a tax

Figure 2 shows a marginal tax on production of a good. The tax charges a fee whenever a producer wishes to produce an extra unit of the good. When a marginal tax is placed on production, the market price will rise to P2, and since fewer consumers wish to purchase the good at the higher price, the quantity produced falls to Q2. The government receives the amount of the tax for each unit sold, amounting to the region shown in grey. This is the revenue the government receives for this tax. The social surplus is now the consumer surplus plus the producer surplus plus the government revenue. Image File history File links TaxWithTax. ...


Note that in this situation, where price elasticities of demand and supply are equal, the price of the good that consumers face (the market price) only increases by half the amount of the tax, the other half of the tax is borne by the producer. Thus both consumer and producer surpluses shrink by equal amounts. This property occurs infrequently. Who bears the cost of the tax is determined by the price elasticities of the demand and supply of the good. For goods with inelastic demands (at least in the short-run) like cigarettes, and gasoline almost all of the tax is paid by the consumer. Alternatively, for goods with inelastic supply curves, like event tickets where seats remain fixed, the producer bears almost all, if not all, of the tax. In economics, elasticity is the ratio of the incremental percentage change in one variable with respect to an incremental percentage change in another variable. ... In economics, elasticity is the ratio of the incremental percentage change in one variable with respect to an incremental percentage change in another variable. ... A cigarette will burn to ash on one end. ... Gasoline (or petrol) is a petroleum-derived liquid mixture consisting primarily of hydrocarbons, used as fuel in internal combustion engines. ...


Figure 3: Net Societal Loss

In addition to administrative costs, there are costs to society imposed by marginal taxes in the form of a loss in social surplus, shown in orange. This loss is often called deadweight loss which is a loss created because potential trades (in the amount of Q1-Q2) are not executed. The deadweight loss is proportional to the square of the tax rate. Thus if the tax rate is doubled, the deadweight loss will quadruple. This means a small tax on a broad tax base (sales tax) would normally be more efficient, or result in less deadweight loss, than a large tax rate on a narrow tax base (taxing a particular good heavily). Image File history File links TaxNetSocietalLoss. ... In economics, a deadweight loss (also known as excess burden) is a permanent loss of well being to society that can occur when equilibrium for a good or service is not Pareto optimal, (that at least one individual could be made better off without others being made worse off). ...


Types of taxes

Income tax

Main articles: Income tax and Negative income tax

Income taxes are typically structured to be progressive taxes. For this reason, it is generally advocated by those who think that taxation should be borne more by the rich than by the poor, even to the point of serving as a form of social redistribution. Some critics characterize this tax as a form of punishment for economic productivity. Other critics charge that income taxation is inherently socially intrusive because enforcement requires the government to collect large amounts of information about business and personal affairs, much of which is considered proprietary and confidential. An income tax is a tax levied on the financial income of persons or corporations. ... In economics, a negative income tax (abbreviated NIT) is a method of tax reform that is popular among economists but has never been fully implemented. ...


The crucial invention permitting the reliable collection of high income taxes was direct withholding of taxes from payrolls by employers; this works because most people in modern societies are salaried workers. This reduces the perceived burden of the tax, because employees never handle the money. Direct withholding also discourages cheating, because it requires the collaboration of employers, and as there are fewer employers than employees, the government's enforcement efforts can be deployed more effectively. However, direct withholding also has some drawbacks: it puts part of the burden of processing taxes on the employer, and it also complicates matters when the employee is in a situation where he or she should pay significantly less or more than what is expected from its salary (because of tax-deductible expenses, or side revenues). Direct withholding is the method of collection of choice in most countries implementing income taxes, with the exception of France, where direct withholding is periodically discussed, but has so far not been implemented.


Where income tax is not collected at source, it may become easier to cheat by lying about one's affairs. The government may then require that employers report the amounts they pay to employees.


Income tax, in addition to income, generally takes into account a variety of factors. Certain expenses, such as work-related expenses, donations to charities etc..., may be tax-deductible: that is, they are subtracted from the taxable revenue. Investments in some impoverished areas or industrial sectors may be encouraged through tax breaks (reduced rates). Donations to charities may be partly subtracted from the tax, in an original form of subsidy. Because of various exemptions, rebates etc..., income tax codes tend to be complicated. In some countries such as the United States, individuals often hire the service of a tax accountant so as to find the best way to reduce their tax. Certified Public Accountants (CPAs) are accounting professionals of the United States who have passed the Uniform CPA exam, which was developed and is maintained by the American Institute of Certified Public Accountants (AICPA), and have subsequently met additional state requirements for licensure as a CPA. Only CPAs are professionally licensed...


Income tax fraud is a problem in most, if not all, countries implementing an income tax. Either one fails to declare income, or declares nonexistent expenses. Failure to declare income is especially easy for non-salaried work, especially those paid in cash. Tax enforcement authorities fight tax fraud using various methods, nowadays with the help of computer databases. They may, for instance, look for discrepancies between declared revenue and expenses along time. Tax enforcement authorities then target individuals for a tax audit – a more or less detailed review of the income and tax-deductible expenses of the individual. An audit is an evaluation of an organization, system, process, or product. ...


Income tax may be collected from legal entities (e.g., companies) as well as natural persons (individuals), although, in some cases, the income tax on legal entities is levied on a slightly different basis than the income tax on individuals and may be called, in the case of income tax on companies, a corporation tax or a corporate income tax. A legal entity or artificial person is a legal construct with legal rights or duties such as the legal capacity to enter into contracts and sue or be sued. ... Corporate tax refers to direct taxes charged by various jurisdictions on the profits made by companies or associations. ... Corporate tax refers to direct taxes charged by various jurisdictions on the profits made by companies or associations. ...


Retirement tax

Some countries with social security systems, which provide income to retired workers, fund those systems with specific dedicated taxes. These often differ from comprehensive income taxes in that they are levied only on specific sources of income, generally wages and salary (in which case they are called payroll taxes). A further difference is that the total amount of the taxes paid by or on behalf of a worker is typically considered in the calculation of the retirement benefits to which that worker is entitled. Examples of retirement taxes include the FICA tax, a payroll tax that is collected from employers and employees in the United States to fund the country's Social Security system; and the National Insurance Contributions (NICs) collected from employers and employees in the United Kingdom to fund the country's national insurance system. For specific national programs, see Social Security (United States), National insurance (UK), Social Security (Sweden) Social security primarily refers to a field of social welfare concerned with social protection, or protection against socially recognized conditions, including poverty, old age, disability, unemployment, families with children and others. ... In the United States, payroll tax is tax that pays for two social insurance systems: Medicare and Social Security. ... Federal Insurance Contributions Act (FICA) tax is a United States tax levied in an equal amount on employees and employers to fund federal programs for retirees, disabled, and children of deceased workers. ... Social Security in the United States is a social insurance program funded through a dedicated payroll tax. ... National insurance is a system of taxes, and related social security benefits, that has operated in the United Kingdom since its introduction in 1911, and wider extension by the government of Clement Attlee in 1946. ... National insurance is a system of taxes, and related social security benefits, that has operated in the United Kingdom since its introduction in 1911, and wider extension by the government of Clement Attlee in 1946. ...


These taxes are sometimes regressive in their immediate effect. For example, in the United States, each worker, whatever his or her income, pays at the same rate up to a specified cap, but income over the cap is not taxed. A further regressive feature is that such taxes often exclude investment earnings and other forms of income that are more likely to be received by the wealthy. The regressive effect is somewhat offset, however, by the eventual benefit payments, which typically replace a higher percentage of a lower-paid worker's pre-retirement income.


Capital gains tax

A capital gains tax is the tax levied of the profit realised upon the sale of an asset. In many cases, the amount of a capital gain is treated as income and subject to the marginal rate of income tax. In many jurisdictions, including the United States and the United Kingdom, a capital gains tax or CGT is charged on capital gains, that is the profit realised on the sale of an asset that was previously purchased at a lower price. ... In finance, a capital gain is profit that is realized from the sale of an asset that was previously purchased at a lower price. ...


If such a tax is levied on inherited property then it can act as a de facto probate or inheritance tax.


Corporation tax

Corporation tax is a tax on corporate earnings (and often includes capital gains) of a company. Earnings are generally considered gross revenue less expenses. However, corporate expenses that relate to capital expenditures are rarely deducted in full (such as the entire cost of a company truck) and are often deducted over the useful life of the asset purchase. Generally, industrialized countries also use a regressive rate of tax upon corporate income. Corporate tax refers to direct taxes charged by various jurisdictions on the profits made by companies or associations. ... A company is, in general, any group of persons, which are known as its members, united to pursue a common interest. ...


See also: excess profits tax An excess profits tax is a tax on any profit above a certain amount. ...


Poll tax

A poll tax, also called a per capita tax, or capitation tax, is a tax that levies a set amount per individual. The earliest tax mentioned in the Bible of a half-shekel per annum from each adult Jew (Ex. 30:11-16) was a form of poll tax. Poll taxes are administratively cheap because they are easy to compute and collect and difficult to cheat. However, they are very unpopular because they are strongly regressive (poorer people pay a higher proportion of their income than richer people). A poll tax, head tax, soul tax, or capitation is a tax of a uniform, fixed amount per individual (as opposed to a percentage of income). ... Jesus was actually a Sears employee before he got fired and was hired at Wang computers where he was assistant manager for saling Wangs and Wang accesories now but his most famous work is for probly writing the bible and starting up his own company that we now know as...


Excises

Unlike an ad valorem tax, an excise is not a function of the value the product being taxed. Excise taxes are based on the quantity, not the value, of product purchased. For example, in the United States, the Federal government imposes an excise tax of 18.4 cents per US gallon (4.86 ¢/L) of gasoline, while state governments levy an additional 8 to 28 cents per US gallon. The term excise has more than one legal meaning. ...


Purposes and effects of excises

Excises on particular commodities are frequently Hypothecated. For example, a fuel excise is often used to pay for public transportation, especially roads and bridges and for the protection of the environment. A special form of hypothecation arises where an excise is used to compensate a party to a transaction for alleged uncontrollable abuse: for example, a blank media tax is a tax on recordable media such as CD-Rs, whose proceeds are typically allocated to copyright holders. Critics charge that such taxes tax blindly those who make legitimate and illegitimate usages of the products; for instance, a person or corporation using CD-R's for data archival should not have to subsidize the producers of popular music. Hypothecation (literally: hypothetical dedication) is a treatment and possible justification for government taxation or expenditure. ... Skytrain Bangkok. ... A typical rural county road in Indiana, USA, where traffic drives on the right. ... A log bridge A bridge is a structure built to span a gorge, valley, road, railroad track, river, body of water, or any other physical obstacle. ... A blank media tax (or blank media levy) is a government-mandated scheme in which a special tax or levy (additional to any general sales tax) is charged on purchases of recordable media. ... A CD-R (Compact Disc-Recordable) is variation of the Compact Disc digital audio disc invented by Philips and Sony. ... Copyright symbol. ...


Excises (or exemptions from them) are also used to modify consumption patterns. For example, a high alcohol excise is used to discourage alcohol consumption, relative to other goods. This may be combined with hypothecation if the proceeds are then used to pay for the costs of treating illness caused by alcohol abuse. Similar taxes may exist on tobacco, pornography, etc..., and they may be collectively referred to as sin taxes. A carbon tax is a tax on the consumption of carbon-based non-renewable fuels, such as petrol, diesel-fuel, jet fuels and natural gas. The object is to reduce the release of carbon into the atmosphere. In the UK, vehicle excise duty is an annual tax on vehicle ownership. Bottles of cachaça, a Brazilian alcoholic beverage. ... Species N. glauca N. longiflora N. rustica N. sylvestris N. tabacum Ref: ITIS 30562 as of August 26, 2005 Tobacco (, L.) refers to a genus of broad-leafed plants of the nightshade family indigenous to North and South America, or to the dried and cured leaves of such plants. ... Pornographic movies Pornography (from Greek πορνη prostitute and γραφία written material) (also informally referred to as porn, or porno) is the representation of the human body or human sexual behaviour with the goal of sexual arousal, similar to, but distinct from, erotica, though the two terms are often used interchangeably. ... SiN is a computer game developed by Ritual Entertainment and published by Activision in late 1998. ... A carbon tax is a tax on energy sources which emit carbon dioxide into the atmosphere. ... In the United Kingdom, Vehicle Excise Duty (VED) (often known as road tax) is an annual tax on the use of motor vehicles on the public roads. ...


Sales tax

Sales taxes are a form of excise levied when a commodity is sold to its final consumer. Retail organizations contend that such taxes discourage retail sales. The question of whether they are generally progressive or regressive is a subject of much current debate. People with higher incomes spend a lower proportion of them, so a flat-rate sales tax will tend to be regressive. It is therefore common to exempt food, utilities and other necessities from sales taxes, since poor people spend a higher proportion of their incomes on these commodities, so such exemptions would make the tax more progressive. This is the classic "You pay for what you spend" tax, as only those who spend money on non-exempt (i.e. luxury) items pay the tax. A sales tax is a tax on consumption. ...


A small number of US states rely entirely on sales taxes for state revenue, as those states do not levy a state income tax. Such states tend to have a moderate to large amount of tourism or inter-state travel that occurs within their borders, allowing the state to benefit from taxes from people the state would otherwise not tax. In this way, the state is able to reduce the tax burden on its citizens.


The US states that do not levy a state income tax are Alaska, Florida, Nevada, South Dakota, Texas, Washington state, and Wyoming. Additionally, New Hampshire and Tennessee only levy state income taxes on dividends and interest income. Of the above states, only Alaska and New Hampshire do not levy a state sales tax. Additional information can be obtained at the Federation of Tax Administrators website.


The sales tax has come into national attention with the growing movement for a "FairTax" federal tax system, which is, in all reality, simply a national retail sales tax. That subject is covered more in depth in the Wikipedia entry "FairTax". The FairTax Book, co-authored by Neal Boortz and John Linder, was published on August 2, 2005, as a tool to increase public support for the FairTax Plan. ...


Tariffs

An import or export tariff (also called customs duty or impost) is a charge for the movement of goods through a political border. Tariffs discourage trade, and they may be used by governments to protect domestic industries. A proportion of tariff revenues is often hypothecated to pay government to maintain a navy or border police. The classic way of cheating a tariff is smuggling. A tariff is a tax on imported goods. ... A fruit stand at a market. ... A skirmish with smugglers from Finland at the Russian border, 1853, by Vasily Hudiakov. ...


Value added tax

A value added tax (sometimes called a goods and services tax - GST, as in Australia and Canada) applies the equivalent of a sales tax to every operation that creates value. To give an example, sheet steel is imported by a machine manufacturer. That manufacturer will pay the VAT on the purchase price, remitting that amount to the government. The manufacturer will then transform the steel into a machine, selling the machine for a higher price to a wholesale distributor. The manufacturer will collect the VAT on the higher price, but will remit to the government only the excess related to the "value added" (the price over the cost of the sheet steel). The wholesale distributor will then continue the process, charging the retail distributor the VAT on the entire price to the retailer, but remitting only the amount related to the distribution markup to the government. The last VAT amount is paid by the eventual retail customer who cannot recover any of the previously paid VAT. Economic theorists have argued that this minimises the market distortion resulting from the tax, compared to a sales tax. However, VAT is held by some to discourage production. Value added tax (VAT) is a sales tax levied on the sale of goods and services. ...


VAT was historically used when a sales tax or excise tax was uncollectible. For example, a 30% sales tax is so often cheated that most of the retail economy will go off the books. By collecting the tax at each production level, and requiring the previous production level to collect the next level tax in order to recover the VAT previously paid by that production level, the theory is that the entire economy helps in the enforcement. In reality, forged invoices and the like demonstrate that tax evaders will always attempt to cheat the system.


Property taxes

A property tax is usually levied on the value of property owned, usually real estate. Property taxes may be charged on a recurrent basis, or upon a certain event. // Property tax is an ad valorem tax that an owner of real estate or other property pays on the value of the thing taxed. ...


A common type of property tax is an annual charge on the ownership of real estate, where the tax base is the supposed value of the property. For a period of over 150 years from 1695 a window tax was levied in England, with the result that you can still see listed buildings with windows bricked up [1] in order to save their owner's money. A similar tax existed in France, with similar results. Real estate is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings. ... Events January 27 - Change of emperor of the Ottoman Empire from Ahmed II to Mustafa II (1695-1703) July 17 - The Bank of Scotland is founded by an Act of Parliament of the old Scottish Parliament. ... The window tax was a glass tax which was an important social, cultural, and architectural force in the United Kingdom during the 17th and 18th centuries. ... Buckingham Palace, a Grade I listed building. ...


The two most common type of event driven property taxes are stamp duty, charged upon change of ownership, and inheritance tax, which is imposed in many countries on the estates of the deceased. Stamp duty is a form of tax that is levied on documents. ... Inheritance tax, also known in some countries outside the United States as a death duty and referred to as an estate tax within the U.S, is a form of tax imposed upon the transfer of the property of the estate of a deceased person that is left to a...


In contrast with a tax on real estate, a land value tax is levied only on the unimproved value of the land ("land" in this instance meaning the economic term, i.e., all natural resources). Land tax has long been recognised as the only tax which does not distort market relations. Some political economists claim that because land is not the product of labour it should be the only tax. See Georgism. Land Value Taxation (LVT) is the policy of raising state revenues by charging each landholder a portion of the value of a site or parcel of land that would exist even if that site had no improvements. ... Georgism, named after Henry George (1839-1897), is a philosophy and economic ideology that follows from the belief that everyone owns what they create, but everything supplied by nature, most importantly land, belongs equally to all humanity. ...


When real estate is held by a higher government unit or some other entity not subject to taxation by the local government, the taxing authority may receive a payment in lieu of taxes to compensate it for some or all of the foregone tax revenue. A PILOT is a payment in lieu of taxes (also sometimes abbreviated PILT), made to compensate a local government for some or all of the tax revenue that it loses because of the nature of the ownership or use of a particular piece of real property. ...


Transfer taxes

Historically, in many countries, a contract needed to have a stamp affixed to make it valid. The charge for the stamp was either a fixed amount or a percentage of the value of the transaction. In most countries the stamp has been abolished but stamp duty remains. Stamp duty is levied in the UK on the purchase of shares and securities, the issue of bearer instruments, and certain partnership transactions. Its modern derivatives, stamp duty reserve tax and stamp duty land tax, are respectively charged on transactions involving securities and land. Stamp duty has the effect of discouraging speculative purchases of assets by decreasing liquidity. Taxes on currency transactions are known as Tobin taxes. Stamp duty is a form of tax that is levied on documents. ... Stamp duty is a form of tax that is levied on documents. ... Stamp duty is a form of tax that is levied on documents. ... A Tobin tax is the suggested tax on all trade of currency across borders. ...


See also: transfer tax, stamp duty A transfer tax is a direct tax that is paid when title to property is transferred. ... Stamp duty is a form of tax that is levied on documents. ...


Inheritance tax

Some believe that inheritance taxes do not have any harmful effect on the economy and may even be beneficial as they encourage consumer spending by the elderly. However, some also believe them to discourage productivity and to disrupt the continuity of family-owned businesses. Inheritance tax, also known in some countries outside the United States as a death duty and referred to as an estate tax within the U.S, is a form of tax imposed upon the transfer of the property of the estate of a deceased person that is left to a...


See also: allodial, death tax, estate tax, Pigovian tax Allodial land, or allodium, is literally land which has no lord. ... The term death tax is used by those opposed to the legal concept of an estate or inheritance tax, which is a tax on the value of a deceased individuals assets before they are passed on to heirs. ... Inheritance tax, also known in some countries outside the United States as a death duty and referred to as an estate tax within the U.S, is a form of tax levied upon the bequest that a person may make in their will to a living person or organisation. ... A Pigovian tax is a tax levied to correct the negative social side-effects of an activity. ...


Wealth (net worth) tax

Main article: wealth (net worth) tax Because of the broad term wealth, capital transfer taxes (inheritance tax, gift tax) and capital gains taxes are sometimes referred to as wealth taxes. Net worth tax Some countrys governments will require declaration of the tax payers balance sheet (assets and liabilities), and from that ask for a tax...


Some countries' governments will require declaration of the tax payers' balance sheet (assets and liabilities), and from that exact a tax on net worth (assets minus liabilities), as a percentage of the net worth, or a percentage of the net worth exceeding a certain level. The tax is in place for both "natural" and in some cases legal "persons". In formal bookkeeping and accounting, a balance sheet is a statement of the book value of a business or other organization or person at a particular date, usually at the end of its fiscal year, as distinct from an income statement, also known as a statement of profit and loss... Net worth (sometimes net assets) is the total assets minus total liabilities of an individual or company. ... In jurisprudence, a natural person is a human being perceptible through the senses and subject to physical laws, as opposed to an artificial person, i. ... A legal entity or artificial person is a legal construct with legal rights or duties such as the legal capacity to enter into contracts and sue or be sued. ...


Personal property tax

In many jurisdictions (including many American states), there is a general tax levied periodically on residents who own personal property within the jurisdiction. Vehicle and boat registration fees are subsets of this kind of tax. Personal property is a type of property. ...


Usually, the tax is designed with blanket coverage but with large exceptions for obvious things like food and clothing. Household goods are exempt as long as they are kept or used within the household. However, any otherwise non-exempt object can lose its exemption if regularly kept outside the household. Thus, tax collectors often monitor newspaper articles for stories about wealthy people who have lent art to museums for public display, because the artworks have then become subject to personal property tax. And if an artwork had to be sent to another state for some touch-ups, it may have become subject to personal property tax in that state as well.


Who pays

In the United States, the Congressional Budget Office produces a number of reports on the share of all federal taxes paid by taxpayers of various income levels. Their data for 2002 shows the following: (Table 2) For the Cusco album, see 2002 (album). ...

  • The top 1% of taxpayers by income pay 33% of all individual income taxes, and 22.7% of all federal taxes.
  • The top 5% of taxpayers pay 54.5% of all individual income taxes, and 38.5% of all federal taxes.
  • The top 10% of taxpayers pay 67.4% of all individual income taxes, and 50% of all federal taxes.
  • The top quintile (20%) pays 82.5% of all individual income taxes, and 65.3% of all federal taxes.

Their numbers also show, that when broken down by quintile, the social insurance taxes are regressive on an effective tax rate basis only for the highest quintile, though that quintile pays the largest share of social insurance taxes (44%). However, when returns to social insurance (in the form of retirement benefits) are accounted for, social insurance taxes are effectively progressive. (Table 1) In descriptive statistics, a percentile is any of the 99 values that divide the sorted data into 100 equal parts, so that each part represents 1/100th (or 1%) of the sample or population. ...


Historical taxation levels

Quite a few records of the government tax collection in Europe since at least the 17th century are still available today. But the taxation levels are hard to compare to the size and flow of the economy since production numbers are not as readily available. The government expenditures and revenue in France during the 17th century went from about 20 million livres in 1600 to about 60 million livres in 1650 to about 150 million livres in 1700 when the government debt had reached 1.6 billion livres. The livre tournois (or Tournoise pound) was a currency used in France, named after the town of Tours, in which it was minted. ...


The taxation as a percentage of production of final goods may have reached 15%-20% during the 17th century in places like, France, the Netherlands, and Scandinavia. During the war filled years of the eighteenth and early nineteenth century tax rates in Europe increased dramatically as war became more expensive and governments became more centralized and adept at gathering taxes. This increase was greatest in England, Peter Mathias and Patrick O'Brien found that the tax burden increased by 85% over this period. Another study confirmed this number, finding that per capita tax revenues had grown almost six-fold over the eighteenth century, but that steady economic growth had made the real burden on each individual only double over this period before the industrial revolution. Average tax rates were higher in Britain than France the years before the French Revolution, but they were mostly placed on international trade. In France the taxes were lower but the burden was mainly on landowners, individuals, and internal trade and thus created far more resentment. This article refers to Denmark, Norway and Sweden. ... Patrick OBrien is an economic historian. ... The French Revolution (1789-1799) was a period in the history of France. ...


Taxation as a percentage of GDP is today (2003) 56.1% in Denmark, 54.5% in France, 49.0% in the Euro area, 42.6% in the United Kingdom, 35.7% in the United States, 35.2% in The Republic of Ireland, and among all OECD members an average of 40.7%. (OECD national accounts) (Forbes magazine) The euro (plural euro, symbol: €; banking code: EUR) is the official currency of the European Union and single currency for over 300 million Europeans in the following twelve European Union member states: Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal and Spain; collectively also known as...


Historical forms of taxation

In monetary economies prior to fiat banking, a critical form of taxation was seigniorage, the tax on the creation of money. Seigniorage has been replaced by central banking. Seigniorage, also spelled seignorage or seigneurage, is the net revenue derived from the issuing of currency. ...


Other obsolete forms of taxation include:

  • scutage - paid in lieu of military service; strictly speaking a commutation of a non-tax obligation rather than a tax as such, but functioning as a tax in practice
  • tallage - a tax on feudal dependents
  • tithe - a tax, or more precisely a tax-like payment, (one tenth of one's earnings or agricultural produce), paid to the Church (and thus too specific to be a tax in strict technical terms even though appearing as one to the payer)
  • Aids - During feudal times Aids was a type of tax or due paid by a vassal to his lord.
  • Danegeld - medieval land tax originally raised to pay off raiding Danes and later used to fund military expenditures.
  • Carucate - tax which replaced the danegeld in England.
  • Tax Farming - the principle of assigning the responsibility for tax revenue collection to private citizens or groups.

Some principalities taxed windows, doors or cabinets to reduce consumption of imported glass and hardware. Armoires, hutches and wardrobes were invented to evade taxes on doors and cabinets. The tax of scutage or escuage in the law of England involved the pecuniary commutation, under the feudal system, of the military service due from the holder of a knights fee. ... Tallage or talliage (from the French a part cut out of the whole) appears to have signified at first a tax in general, but became afterwards confined in England to a special form of tax: the assessment upon cities, boroughs, and royal domains. ... A tithe (from Old English teogotha tenth) is a one-tenth part of something, paid as a voluntary contribution or as a tax or levy, usually to support a Jewish or Christian religious organization. ... The Danegeld was an English tax raised to pay off Viking raiders (usually led by the Danish king) to save the land from being ravaged by the raiders. ... The carucate was both a unit of assessment and a peasant landholding unit found in most of the Danelaw counties. ... Tax farming, occurring historically in Egypt, Rome, Great Britain, the Greater Middle East and Greece, was the principle of giving the responsibility of tax collection to citizens or groups, rather than the government. ...


Today the most complicated taxation-system is the German one. Three quarters of the world's taxation-literature refers to the German system. There are 118 laws, 185 forms and 96000 regulations (only one comment to taxation covers 2671 pages). The administration spends 3.7 billion Euro just to collect income tax.


Morality of taxation

Under most political views, activities funded by taxes can be beneficial to society and progressive taxation can be used in most modern countries to provide an overall benefit to the majority of the population. However, since payment of tax is compulsory, libertarians consider taxation to be tantamount to theft, accusing the government of levying taxes via coercive means. However, some libertarians recommend a minimal level of taxation in order to maximize the protection of liberty. Politics is the process and method of decision-making for groups of human beings. ... Human relationships within an ethnically diverse society For other uses, see Society (disambiguation). ... Progressive can refer to: Progressive music, including Progressive rock, Progressive metal and Progressive electronica Political Progressivism Several Progressive Parties Progressive Era in the United States (1890-1913) Progressive, a company providing auto insurance The Progressive, a left-wing monthly magazine The progressive tense in grammar Progressive lenses, used to correct... This article deals with the libertarianism as defined in America and several other nations. ... In the United States, larceny is a common law crime involving stealing. ... Coercion is the practice of compelling a person to act by employing threat of force. ... Liberty - Wikipedia, the free encyclopedia /**/ @import /skins-1. ...


One counter-argument is that since the government is the party performing the act, and if there is a democracy in place, then it is society as a whole that decides how the tax system should be organised. The American Revolution's "No taxation without representation" slogan took this view. This is countered by the assertion that the moral stature of any act, such as slavery or theft, is not contingent upon its legality or popularity. As Thomas Jefferson put it, "A democracy is nothing more than mob rule, where fifty-one percent of the people may take away the rights of the other forty-nine." The American Revolution was a revolution that ended two centuries of rule of the Thirteen Colonies by the British Empire and created the modern United States of America. ... No taxation without representation was a rallying cry for advocates of American independence from Great Britain in the eighteenth century. ... Slavery is a condition in which one person, known as a slave, is under the control of another. ... This article is about law in society. ... Popularity is the quality of being well-liked or common. ... Thomas Jefferson (April 13, 1743 N.S. – July 4, 1826) was the third President of the United States (1801–1809), principal author of the Declaration of Independence (1776), and one of the most influential founders of the United States. ...


There are several justifications that are offered for taxation. Taxation of business is justified on the grounds that business necessarily involves use of publicly established and maintained economic infrastructure, and businesses are in effect charged for this use. Again, libertarians argue that government services used by businesses are either already paid for directly or are services that ought to be provided by a free market. Such taxes, they argue, are a way for the majority to exploit businesspeople. Compulsory taxation of individuals, such as income tax, is justifed on similar grounds, including the universality of law, territorial sovereignty, and the social contract. Wall Street, Manhattan In economics, business refers to the social science of managing people to organize and maintain collective productivity toward accomplishing particular creative and productive goals. ... An income tax is a tax levied on the financial income of persons or corporations. ... Sovereignty is the exclusive right to exercise supreme political (legislative, judicial and/or executive) authority over a geographic region, group of people or oneself. ... Social contract theory (or contractarianism) is a concept used in philosophy, political science and sociology to denote an implicit agreement within a state regarding the rights and responsibilities of the state and its citizens, or more generally a similar concord between a group and its members, or between individuals. ...


See also

Wikiquote has a collection of quotations related to:

Image File history File links Wikiquote-logo-en. ... Wikiquote logo Wikiquote is a sister project of Wikipedia, using the same MediaWiki software. ... Deposit Interest Retention Tax (DIRT) is a form of tax on interest earned on bank accounts in Republic of Ireland that was first introduced in the 1980s. ... The dividend tax is the tax on corporate dividends. ... Fiscal neutrality is a term referring to the impact of taxation on the economy. ... International taxation is a subject of study that deals with international tax treaties (see: tax treaty)and international aspects of domestic income tax laws. ... t* represents the rate of taxation at which maximal revenue is generated. ... The Revenue On-Line Service or ROS, is a pioneer in European internet applications, and it is run by the Irish Revenue Commissioners. ... The solidarity tax on wealth is a French annual direct tax on those having assets in excess of 720,000 euros (as of January 1, 2003). ... First discussed by the Physiocrats in France, tax incidence is the analysis of the effect of a particular tax on the distribution of economic welfare. ... This article contrasts tax avoidance, tax evasion, tax mitigation, tax fraud, tax resistance and tax protesters. ... A tax resister resists or refuses payment of a tax because of opposition to the institution collecting the tax. ... Tax Freedom Day is the first day of the year in which a nation as a whole has earned enough money to pay for its annual tax burden or cost of government. ... A tax haven is a place where certain taxes are levied at a low rate or not at all. ... Tax law is the codified system of laws that describes government levies on economic transactions, commonly called taxes. ... Canadas taxation rate is about average among OECD countries, but it is significantly higher than the rate in the United States, the country with which Canada usually compares itself. ... // Income Tax Income tax on earnings is required to be paid to the New Zealand government. ... This article is a brief overview of some aspects of UK taxes. ... Taxation in the United States is a complex system which may involve payments to at least four different levels of government: Local government, possibly including one or more of municipal, township, district and county governments Regional entities such as school, utility, and transit districts State government Federal government // Federal taxation... Taxation is one of the most criticized matters in Germany. ... The system of taxation in the Republic of Ireland is broadly similar to the system of taxation in the United Kingdom. ... This article deals with Taxation in Indonesia or pajak. ...

External links


  Results from FactBites:
 
Tax - Wikipedia, the free encyclopedia (5282 words)
A tax is a compulsory charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state (e.g., tribes, secessionist movements or revolutionary movements).
Examples of retirement taxes include the FICA tax, a payroll tax that is collected from employers and employees in the United States to fund the country's Social Security system; and the National Insurance Contributions (NICs) collected from employers and employees in the United Kingdom to fund the country's national insurance system.
A carbon tax is a tax on the consumption of carbon-based non-renewable fuels, such as petrol, diesel-fuel, jet fuels and natural gas.
Marginal Tax Rates, by Alan Reynolds: The Concise Encyclopedia of Economics: Library of Economics and Liberty (1424 words)
The seemingly arcane topic of marginal tax rates became the central theme of a revolution in economic policy that swept the globe in the eighties.
Tax rates were cut from 60 percent to 35 percent, and the economy grew by 5.4 percent a year from 1981 through 1987.
Apparent "tax cuts"—from a top marginal rate of 70 percent to 33 percent—became actual tax increases, particularly for "the rich." The explanation for this paradox lies in the critical distinctions between average and marginal tax rates, and between "static" effects right now and "dynamic" effects over years and decades.
  More results at FactBites »

 
 

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