tax base


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Related to tax base: tax rate, Tax burden

Tax base

The assessed value of the taxable property, assets, and income within a specific geographic area.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Tax Base

The value of all assets that a government may tax. The tax base may increase for a number of reasons, particularly with the creation of wealth or when persons with high income move to an area. The tax base is particularly important to local governments because persons with large amounts of assets can move in and out with relative ease. The tax base is also the reason that government revenues tend to increase during economic growth and shrink during recessions.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

tax base

The resources that are available for taxation. An evaluation of the tax base is of particular importance in certain municipal bond issues secured by tax revenues.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

tax base

the total pool that the tax authorities can tap in levying a TAX. For example, the tax base for INCOME TAX is total taxable income and the tax base for CORPORATION TAX is total taxable profits.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

tax base

The assessed value of all the property within a taxing jurisdiction.Local governments are always extremely sensitive to the size of the tax base and the need to increase it,and will often offer incentives to developers who will increase the sales taxes in the area,increase the tax base through additional improved properties, or increase the tax base through redevelopment and increased property values.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
The commission has also proposed to the government that for the next five years, the FBR should deploy 50% of the workforce to territorial jurisdiction for broadening the tax base to take concrete measures.
Further, based on the research of Ruding's Committee, the European Commission also proposed uniform tax base rules and a maximum corporate tax rate of 40%.
The government's top ranking advisors - Arvind Subramanian, Chief Economic Advisor, Ministry of Finance, and Arvind Panagariya, Vice Chairman, NITI Aayog - are, however, both in agreement when it comes to the easiest solution to expand tax base: Implementation of GST.
After exploring the advantages and disadvantages of tax-base conformity, this Article argues that the most important tool for mitigating the adverse impact of federal-state tax-base conformity is states' ability to deviate from the federal tax base. Because no law obliges states to conform to the federal tax base, states may terminate conformity at any time.
statute should control the determination of the tax base and that the tax base must meet the gross receipts and net income requirements of Regs.
The "Common Consolidated Corporate Tax Base" system involves consolidated determining of taxable companies with cross-border activity income, as accounting rules.
Cross-border companies currently have to deal with up to 27 different tax administrations when calculating their tax base. The system for determining how intra-group transactions are taxed, known as transfer pricing, is also highly complex.
Reports said a proposal discussed in the EU on Monday calls for a common consolidated corporate tax base in the coming weeks.
Following on Erosion of the Property Tax Base, which documents the trends and causes of the decline in the local property tax base, economists and political analysts explain the effects of the decline, and particularly emphasize that the autonomy of local governments depends on their access to a strong, vibrant local property tax.
[section] 105-122(b2), added by section 27B.2.(d) of the Bill, provides that noncorporate business entities must compute their franchise tax base by combining the capital accounts of their owners computed in accordance with generally accepted accounting principles.
Each year, the commercial and industrial tax base shrinks, increasing the burden on both residents and businesses alike.
The report's absence of a specific reference to one of the main tax issues under discussion in Europe (the future creation of a Common Consolidated Corporate Tax Base) is probably symptomatic of the sharp divergences between the national delegations sitting in the EPP.