Surtax

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Surtax

A tax added to the normal tax paid by corporations or individuals who have earned income above a certain level.

Surtax

An additional tax placed on a person or corporation on a tax liability. For example, a government may calculate one's tax liability and simply add, say, 5% to it. Surtaxes are often politically unpopular. A surtax is also called a supertax.
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The taxis that were unable to take him home included black and whites and Supertax.
He puts 20p on my pasty but his sandwiches still arrive on a tray for his lunch - LESLEY DARLINGTON, 64 e r Taking 5% off supertax and adding VAT to a pie or pasty is the work of a Government out of touch with the people - DAVID TAYLOR, 36 least I just couldn't go back to my customers again and again saying I wanted more money because petrol had gone up again - PAUL STELFOX, 64 FORMER TRUCKER You don't see George Osborne having to pop into Greggs for a pasty at lunchtime, do you?
THE Government could rake in an extra EUR1billion a year if they slapped a supertax on the rich, it was claimed yesterday.
When I was a younger man, we had what was called supertax, the very rich were taxed at up to 90 per cent of their income.
Mr Darling has promised his third Budget will be "sensible, workmanlike" but his cupboard is not as bare as he might have expected, partly thanks to the banks choosing to cough up his supertax on City bonuses, rather than trim employees' perks.
The Chancellor of the Exchequer, Alistair Darling, introduced this new supertax for bankers' bonuses at the Pre-Budget Report in December It took immediate effect and will last until the end of the current tax year in early April.
CHANCELLOR Alistair Darling slapped a supertax on bank bonuses yesterday in a bid to discourage megabucks payments to fat cats.
For four hours of hard graft like this they might get between pounds 100 and pounds 200 each - not bad, but hardly supertax material.
You should have kept the 50% supertax on bankers' bonuses.
Last week, the Government unveiled a bank bonus supertax which will see them pay 50% tax on all bonuses above pounds 25,000.