Regarding direct taxation for individuals, the policies cover taxation of savings income, dividend taxation of individuals and tackling tax obstacles to the cross-border provision of occupational pensions. Indirect tax. United Kingdom Corporation Tax. Income tax in the United States.
direct taxationdirect taxesdirect
This page, a companion page to tax, lists different taxes by economic design. For different taxes by country, see Tax rates around the world. Taxes generally fall into the following broad categories: Most property taxes charge for both the value of the land and the value of any buildings or other improvements on the land. A general tax refers to a tax that applies to all or most goods and services and where all are taxed at the same rate. An excise tax refers to a tax on a single item, which may be different than the tax levied on other items. Income tax. Payroll tax. Property tax. Consumption tax. Tariff (taxes on international trade). Capitation, a fixed tax charged per person.
green tax shiftgreen taxenvironmental taxes
. • Carbon tax • Electronic Waste Recycling Fee • Energy Tax Act • Environmental crime • Environmental tariff • Feebate • Free-market environmentalism • Geolibertarianism • Georgism • Green politics • Land value tax • Market governance mechanism • Pigovian tax • Severance tax Payroll, income, and, to a lesser extent, sales taxes. Corporate taxes (taxes on investment and entrepreneurship). Property taxes on buildings and other infrastructure. Carbon taxes on the use of fossil fuels by greenhouse gases produced. Old hydrocarbon taxes don't penalize green house gas (GHG) production.
ad valoremad valorem'' taxad valorem property tax
Haig–Simons income. Land value tax.
indirect taxationindirect taxesindirect
Under this definition, even income taxes may be indirect. The term indirect tax has a different meaning in the context of American Constitutional law: see direct tax and excise tax in the United States. In the United States, the federal income tax has been, since its inception on July 1, 1862, an indirect tax (more specifically an excise ) even though during the 1940s, its application grew from a historical average of about 8% of the population paying it to around 90% of the population paying it as a measure to support the war effort. The concept of Value Added Tax (VAT) as an indirect tax was the brainchild of a German industrialist, Dr.
regressiveregressive taxationburdening the poor
Non-uniform excise taxation based on everyday essentials like food (fat tax, salt tax), transport (fuel tax, fare hikes for public transport), energy (carbon tax) and housing (council tax, window tax) is frequently regressive on income. The income elasticity of demand of food, for example, is usually less than 1 (inelastic) (see Engel's law) and therefore as a household's income rises, the tax collected on the food remains almost the same. Therefore, as a proportion of available expenditure, the relative tax burden falls more heavily on households with lower incomes.
HMRCHM Revenue & CustomsHer Majesty's Revenue and Customs
The department is responsible for the administration and collection of direct taxes including Income Tax, Corporation Tax, Capital Gains Tax (CGT) and Inheritance Tax (IHT), indirect taxes including Value Added Tax (VAT), excise duties and Stamp Duty Land Tax (SDLT), and environmental taxes such as Air Passenger Duty and the Climate Change Levy.
corporation taxcorporate income taxcorporate taxes
Corporations property tax, payroll tax, withholding tax, excise tax, customs duties, value added tax, and other common taxes, are generally not referred to as “corporate tax.” Characterization as a corporation for tax purposes is based on the form of organization, with the exception of United States Federal and most states income taxes, under which an entity may elect to be treated as a corporation and taxed at the entity level or taxed only at the member level. See Limited liability company, Partnership taxation, S corporation, Sole proprietorship. Most jurisdictions tax corporations on their income, like the United Kingdom or the United States.
German tax systemsolidarity surchargeGermany
Taxation classes (tax groups, Lohnsteuerklasse aka Steuerklassen) The taxation at source for capital income will be done with a flat tax rate of 25% (add solidarity surcharge of 5.5% of the amount of tax and, if applicable, church tax). Aside from standard yearly property taxes, known as Grundsteuer, On property sales in Germany there is a state level sales tax on the declared purchase amount. Transfer of German property is subject to a transfer tax (Grunderwerbsteuer)–the equivalent of UK stamp duty.
The income of charities is usually exempt from United Kingdom income tax. 1) the estates of deceased persons. 2) gifts made within seven years of death (known as Potentially Exempt Transfers or "PETs"). 3) "lifetime chargeable transfers", meaning transfers into certain types of trust. See Taxation of trusts (United Kingdom). HM Revenue & Customs. Chartered Institute of Taxation. Government spending in the United Kingdom. Institute of Indirect Taxation. Income in the United Kingdom. Tax credit. Starting rate of UK income tax. Business rates. Council tax. Local income tax. Tax. Tax haven. Tax law. Stephen Dowell, History of Taxation and Taxes in England (Routledge, 2013).
contribution from doors and windowson window glassreceiver of duties on windows
The tax was introduced in England and Wales in 1696 under King William III and was designed to impose tax relative to the prosperity of the taxpayer, but without the controversy that then surrounded the idea of income tax. At that time, many people in Britain opposed income tax, on principle, because the disclosure of personal income represented an unacceptable governmental intrusion into private matters, and a potential threat to personal liberty. In fact the first permanent British income tax was not introduced until 1842, and the issue remained intensely controversial well into the 20th century.
All real property and personal property are subject to tax, unless specifically exempted by law. Most personal property owned by individuals is exempt from tax. Personal property tax applies to personal property used when conducting business, or to other personal property not exempt by law. All property taxes are paid to the county treasurer's office where the property is located. Washington does not impose a tax on intangible assets such as bank accounts, stocks, or bonds. Neither does the state assess any tax on retirement income earned and received from another state.
Otherwise, it should be taxed at the source of payment without subtracting its expenses. Gains, which arise from revaluation of assets are not subject to taxation. The profits are taxed at 20% rate. Value Added Tax (VAT) rate is 18%. All works, goods, services provided and taxable imports constitute the base for taxation. There also exists zero (0) rate VAT in the country for the issues related with financial aids, diplomacy, cargo and valuable goods. Excise taxes are indirect taxes which are included in the sales price of goods. All excise goods that are produced or imported to Azerbaijan are subject to taxation.
Chinese taxation systemtaxation system in mainland Chinataxes
Taxpayers are owners, mortgagees custodians and/or users of house property. (2) Tax base, tax rates and computation of tax payable Two different rates are applied to two different bases: one rate of 1. 2% is applied to the value of house property, and the other rate of 18% is applied to the rental income from the property. The formula for calculating House Property Tax payable is: Tax payable = Tax base ×Applicable rate (3) Major exemptions and reductions Newly constructed buildings shall be exempt from the tax for three years commencing from the month in which the construction is completed.
tax courtTax Court, Oregon
The Oregon Tax Court is a state court in the U.S. state of Oregon, which has jurisdiction in questions of law that regard state tax laws. Examples of matters that would come before this court include income taxes, corporate excise taxes, property taxes, timber taxes, cigarette taxes, local budget law, and property tax limitations. The purpose of the court is parallel to that of the United States Tax Court. Taxpayers and tax authorities can take advantage of a court that is familiar with taxation issues. Oregon Tax Court cases are usually filed by taxpayers who are unhappy with the decisions of the Oregon Department of Revenue or a county tax assessor.
Initiative 695I-985In 2005
(A). 912, rolling back a key component (the gas tax) of the 2005 transportation funding package, which the Legislature passed to improve road safety and relieve congestion. (R). 920, repealing Washington State estate taxes. (R). 933, concerning government regulation of private property, would have compensated property owners when regulations damage the use or value of private property. It would have forbidden further legal restrictions of private property use, and provided exceptions or payments. (R). 937, concerning energy use by electrical utilities, required large electric utilities to increase energy conservation and renewable energy use.
State Board of EqualizationBoard of EqualizationCalifornia State Board of Equalization
Its original mandate was to ensure that property tax assessments were uniform and equal across all counties in the state. Prior to the creation of the state income tax, sales tax, and fuel taxes in the 1930s, California's state government was almost completely supported by property taxes, which were and still are assessed at the county level by elected tax assessors. Assessors were tempted to boost their popularity with county voters by undervaluing voters' property (and thereby lowering their taxes).
List of valuation topicsFinanceList of insurance topics
Tax advantage. Wealth. Comparison of accounting software. Personal financial management. Investment club. Collective investment scheme. Central bank. Federal Reserve. Fractional-reserve banking. Deposit creation multiplier. Tax. Capital gains tax. Estate tax (and inheritance tax). Gift tax. Income tax. Inheritance tax. Payroll tax. Property tax (including land value tax). Sales tax (including value added tax, excise tax, and use tax). Transfer tax (including stamp duty). Tax advantage. Tax, tariff and trade. Tax amortization benefit. Crowding out. Industrial policy. Agricultural policy. Currency union. Monetary reform. Actuarial science. Annuities. Catastrophe modeling. Earthquake loss.
Taxation represents the biggest source of revenues for the Peruvian government (up to 76%). For 2016, the projected amount of taxation revenues was S/.94.6 billion ($29 billion). There are four taxes that make up approximately 90 percent of the taxation revenues: All these four types of taxes are imposed at the national level. There are also municipal taxes based on an individual’s or household’s residence as well as a municipal property tax and a municipal vehicle tax. Peruvian income taxes may be divided into 2 large groups: The general income tax annual rate for resident entities is 29.5%.
budgetstate budgetnational budget
Property tax is frequently the basis for municipal and county revenues, while sales tax and/or income tax are the basis for state revenues, and income tax and corporate tax are the basis for national revenues. The practice of presenting budgets and fiscal policy to parliament was initiated by Sir Robert Walpole in his position as Chancellor of the Exchequer, in an attempt to restore the confidence of the public after the chaos unleashed by the collapse of the South Sea Bubble in 1720.
transport associationtransit agencytransit agencies
This includes the powers of eminent domain to obtain space for rights-of-way (e.g. for railways or busways), the ability to impose excise, income, property, and/or sales taxes to fund subsidies of operating costs of local transportation, and the ability to operate independently of the cities and counties that the transit district operates within. A transit district may also have its own transit police force, although in some areas the local police provide a special bureau for this purpose.
taxationIncome Tax Act
Income tax. Corporate tax. Sales tax. Property tax.
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legal codesLocal Government CodeLocal Government Code of 1991
Codification of laws is a common practice in the Philippines. Many general areas of substantive law, such as criminal law, civil law and labor law are governed by legal codes.
salessales taxesnational sales tax
Investopedia defines a regressive tax as "[a] tax that takes a larger percentage from low-income people than from high-income people. A regressive tax is generally a tax that is applied uniformly. This means that it hits lower-income individuals harder". Higher sales taxes have been shown to have many different effects on local economies. With higher taxes, more consumers are starting to reconsider where they shop, according to a study conducted in Minnesota and Wisconsin, where the sales tax was raised on cigarettes. Effects of higher sales tax were not shown immediately in sales, but about six months after the taxes were raised.