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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In September 2016, Poland adopted a law giving shipyards operating in Poland an option to pay a 1% flat-rate tax on sales from the building and conversion of ships, instead of paying the generally applicable corporate or personal income tax.
There was also speculation that flat-rate tax relief was on the way.
Osborne's obsessed with 331 votes and it's perhaps no coincidence Tory MPs poised to receive a pay rise to PS74,962 a year would be among the 15% of losers had Chicken George found the courage to introduce flat-rate tax relief of 25% or 30% on pension contributions.
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.
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.
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.
This favourable tax regime is widespread within the EU and enables shipping companies not to pay company tax, but only a flat-rate tax based on the tonnage of their fleet.
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.
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.
Proposals for a flat-rate tax to replace income tax were given short shrift at the first consultative session of the party's Tax Commission, set up to review all aspects of Lib Dem tax policy.