Punitive Tax

(redirected from Punitive Taxes)

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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We have a lot of American earnings stuck overseas because our tax code doesnt let it come back to the country without punitive taxes.
But International Development Secretary Priti Patel said: "The man Jeremy Corbyn wants to make Chancellor believes the nonsensical ideas of Karl Marx - punitive taxes, closing down businesses and the removal of private property - should be at the heart of economic policy.
It is a truly global bank and in view of the punitive taxes imposed on UK banks I understand that it is contemplating moving its HQ out of UK.
It is a truly global bank and, in view of the punitive taxes imposed on UK banks, I understand that it is contemplating moving its HQ out of UK.
Because of punitive taxes the rich have deserted and many have come to London.
It is about time that these punitive taxes were removed in order that our industries can compete for sales on a more competitive way with the rest of the world.
Nuclear power programmes in France and Japan, the conversion of heating systems from fuel oil to gas, stricter fuel economy standards for new motor vehicles, and punitive taxes on motor fuels were all deliberately intended to cut oil consumption.
ySTANBUL (CyHAN)- A "wealth amnesty" law that was introduced by the government in May to lure back funds held abroad by affluent Turks without punitive taxes and fines had brought in TL 50.
The Turkish parliament passed a "wealth amnesty" law late on Tuesday designed to lure back funds held abroad by affluent Turks without punitive taxes and fines.
The musicians have complained after George Osborne, the Chancellor, said athletes competing at this summer's London Grand Prix would not face punitive taxes on any cash earned in the UK, including sponsorship payments.
2 States can exempt their employers and residents from ObamaCare's punitive taxes.
said: "It is time for Britain to make a vital choice between tweaking the status quo and letting our economy continue to be crippled by complex and punitive taxes, and drastically changing course with a radical but realistic plan for a tax system fit for the 21st century.