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Punitive Tax
(redirected from Punitive Taxes)

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Punitive Tax
1. A tax imposed to discourage a behavior. For example, retirement plans usually have excise taxes placed upon them if one makes a withdrawal prior to a certain age.

2. An extraordinarily high tax. For example, a government theoretically could impose a tax of 99% on all income over $20,000. There is no consensus as to what qualifies as a punitive tax.
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China told the trade body's dispute settlement mechanism that punitive taxes imposed by the EU had "a very serious impairment on the interests of Chinese industries.
WTO to rule on China-EU shoe dispute by AFP / AFP Asian Edition
The European Union, the world's biggest market, decided Thursday to prolong punitive taxes on imports of Chinese and Vietnamese shoes for 15 months, a source said.
EU extends penalty taxes on Chinese, Vietnamese shoes: source by AFP / AFP Global Edition
And as they splash the cash, the bankers have been finding ways to receive it without getting whacked with the Government's punitive taxes.
PAYING IT BACK by Sunday Mirror (London, England)
 
 
 
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