Luxury Tax


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Luxury Tax

A tax on a good or service that is not considered essential. Luxury taxes may be levied, for example, on sail boats or gold watches. Luxury taxes primarily impact wealthy persons, but are otherwise structured like a sales tax or a VAT. That is, a luxury tax is a percentage of the value (or the added value) of the good or service being sold.
References in periodicals archive ?
As against that, the excise department in Islamabad has no separate inflated tax brackets for imported vehicles, implying that there is no luxury tax for vehicles registered in Islamabad, which vehicle owners see as a huge incentive.
The Yankees are assured to go above the luxury tax threshold during the season, despite passing on Manny Machado and Bryce Harper.
Could the union also go after the competitive balance tax -- or "luxury tax" -- system, too?
The Thunder also could then trim their luxury tax expenses by $90 million.
Anthony doesn't want to come off the bench, he's going to cost the Thunder something like $70 million - the luxury tax is going to be incredibly punitive - if they keep him, and his best days are behind him.
The government has established special E and T teams with a recovery target of Rs519 million as luxury tax in Gujranwala Division out of which the teams have recovered Rs90 million.
The bonds are special, limited obligations of the authority, secured by luxury tax receipts levied in the city of Atlantic City, collected by the state of New Jersey (Issuer Default Rating A/Stable), and deposited with the trustee, before deposit of residuals with CRDA.
The company has taken this step in order to offset the impact of infrastructure tax and luxury tax proposed in the Union Budget 2016-17.
The Government has necessitated soonest introduction of luxury tax in the country during the session on January 21.
Now the left (Miliband and Clegg) want to tax what we own, so there is little doubt that after their mansion tax, they will try to tax us for having a garden, a kitchen over a certain size or value, a large TV, an expensive camera, watch or our wife's jewellery; in other words a return to the old luxury tax or 'let's screw anyone who has something we don't have', which we used to call an envy tax.
Now the left (Miliband and Clegg) want to tax what we own, so there is little doubt that after their Mansion Tax, they will try to tax us for having a garden, a kitchen over a certain size or value, a large TV, an expensive camera, watch or our wife's jewellery: in other words a return to the old luxury tax or lets screw anyone who has something we don't have, which we used to call an envy tax.
Maduro used decree powers Tuesday to put in place 28 new measures, including a luxury tax, increased protection for young workers, and the establishment of new economic development zones.