A report on Tax rate, Tax and Progressive tax
In a tax system, the tax rate is the ratio (usually expressed as a percentage) at which a business or person is taxed.- Tax rate
A progressive tax is a tax in which the tax rate increases as the taxable amount increases.- Progressive tax
Some levy a flat percentage rate of taxation on personal annual income, but most scale taxes are progressive based on brackets of annual income amounts.- Tax
In case of tax brackets, commonly used for progressive taxes, the average tax rate increases as taxable income increases through tax brackets, asymptoting to the top tax rate.- Tax rate
A progressive tax is a tax imposed so that the effective tax rate increases as the amount to which the rate is applied increases.- Tax
1 related topic with Alpha
Flat tax0 links
A flat tax (short for flat-rate tax) is a tax with a single rate on the taxable amount, after accounting for any deductions or exemptions from the tax base.
Implementations are often progressive due to exemptions, or regressive in case of a maximum taxable amount.