flat-rate tax

flat-rate tax

A tax calculated as a certain percentage of income, with all persons paying the same percentage.

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The business lobby group yesterday proposed a series of alternatives to the Chancellor's planned reform, which is slated to come into force from April and would impose a flat-rate tax of 18 per cent across the board for capital gains.
In contrast, if the debt is repaid through a flat-rate tax increase with no change in experience-rating, unemployment would increase because of the perverse incentives on employers.
Ms Bryant said she was also keen to take on Ukip and its leader Nigel Farage: "He's cultivated a cosy image, but if you look at Ukip's economic policies they are a party that wants hard right policies like abolishing national insurance and a flat-rate tax that favour the rich.
Receptionist Salary: PS12,500 Tax 2012/13: PS879 30% flat-rate tax PS918 Worse off: PS39
Within the scope of a German legislative procedure concerning the one-off flat-rate tax payment a higher proportion of the German Laender and communes will receive payment than would have resulted from the distribution key in the case of tax on investment income.
He also notes that because many low-income people pay negative taxes due to the Earned Income Tax Credit and other tax credits, even a low-income family that paid zero taxes under the flat-rate tax could be worse off if it were implemented.
For example, support for the mileage tax rose significantly when the flat-rate tax was converted to a tax with a rate that varied according to the vehicle's pollution level.
To curb this tendency, the Ministry of Economics is working on a bill to establish a new type of company: the status of micro-enterprise could come into effect this summer and would allow small businesses to pay a flat-rate tax of 20 percent on turnover.
But he said that if the Conservatives won the next General Election they should change APD so it was no longer a flat-rate tax but reflected just how much was paid for the airline ticket.
Both the ruling and opposition parties have a responsibility to clarify the source of funds that will be used to raise government funding of the basic pension to 50 percent in the next fiscal year and to support a flat-rate tax cut included in the emergency economic package.
Booth goes on to advocate a move toward a flat-rate tax with "allowances for children and transferable allowances for married couples and cases where families look after elderly relatives" (139).
If bookmakers paid less levy at the margin, in percentage terms, for every pound they receive in bets over a given threshold, it just might remove the existing impediment to growth created by what is, in effect, a flat-rate tax.