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Wealth Tax

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Wealth Tax
A tax levied on a person's or company's net assets, as opposed to income. For example, if a person has a net worth of $1 million, the government may assess a wealth tax on this amount over and above the tax on that person's income. Proponents believe this tax promotes equality while critics maintain it discourages accumulation of wealth, which is thought to drive economic growth.
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In some cases, assessments have also been reopened under the Wealth Tax Act, the minister disclosed in a written reply to the Rajya Sabha.
I- T DEPT TO PROBE ILLEGAL ACCOUNTS IN LIECHTENSTEIN by Mail Today (New Delhi, India)
Some rich Germans have launched a petition to call for the resumption of a wealth tax to help the country bounce back from an economic crisis, because, as one said, he had "a lot of money I do not need.
Rich Germans start campaign for higher taxes by AFP / AFP Global Edition
This data would also used to determine the tax payers eligible for wealth tax .
FBR collects statistics of civil, military officials of country by Balochistan Times (Baluchistan Province, Pakistan)
 
 
 
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