The PM views gambling with distaste and in his last budget as Chancellor levied a surprise 15 per cent flat rate tax
on casinos and a 50 per cent band for those with revenues above pounds 10million.
The Chancellor also dealt a blow to large casino operators by announcing that alongside a new 15 per cent tax flat rate tax
, there would also be a higher, 50 per cent tax band created for those with revenues above pounds 10 million.
Poland exempts from taxation winners' prizes paid by Polish lotteries or subjects them to a flat rate tax
And company car drivers pay only minimal income tax on it because commercial vehicles run as company cars attract an annual flat rate tax
liability of just pounds 500 rather than being calculated on price and CO2 output as with cars.
And company car drivers pay only minimal income tax on it as commercial vehicles run as company cars attract an annual flat rate tax
liability of just pounds 500 rather than being calculated on price and CO2 output.
The AMT uses a flat rate or near flat rate tax
bracket structure after the exemption amount has been exceeded.
I'm going to propose a flat rate tax
, where investments are expensed immediately and where income is taxed once.
The unfairness argument is that the flat rate tax
Cities and other governmental entities would not be subject to the general flat rate tax
on business activities, but would be subject to the tax (20 percent) on the amount of employee fringe benefits.
On the other hand, if the goal is to give the wealthy a monumental tax break, leave the middle and lower classes virtually no better-off and eliminate the incentive for supporting charitable causes that the government has abandoned, then the flat rate tax
is right on the money.
The whole purpose of introducing a flat rate tax
The problem with a flat rate tax
is that as income decreases the portion of income devoted to necessities increases.