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Surtax
A surtax is a tax levied upon another tax, also known as tax surcharge. Canada The provincial portion of the value-added tax on goods and services in two Canadian jurisdictions, Quebec and Prince Edward Island, was formerly calculated as a surtax on the sticker price plus the federal Goods and Services Tax. On Prince Edward Island, provincial sales tax was assessed at 10% on top of the federal tax (as of 2013) of 5%, resulting in a total effective rate of 15.5% at the time of its repeal. The Quebec Sales Tax was 9.5%, also assessed on top of the federal tax of 5%, resulting in a total tax burden of 14.975; it, too, was changed in 2013 so as no longer to be a surtax. United Kingdom In 1929, the supertax (which had been introduced in the Finance Act 1909 at the rate of 6 old pence in the pound (2.5%) on incomes over £5,000 per year) was renamed to surtax. By 1934, the rate was variable from 1 shilling to 7 shillings and sixpence in the pound (5% to 37.5%). It was replaced ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In The United Kingdom
In the United Kingdom, taxation may involve payments to at least three different levels of government: Government of the United Kingdom, central government (HM Revenue and Customs), Devolution in the United Kingdom, devolved governments and Local government in the United Kingdom, local government. Central government revenues come primarily from income tax, National Insurance contributions, value added tax, United Kingdom corporation tax, corporation tax and Hydrocarbon oil duty, fuel duty. Local government revenues come primarily from grants from central government funds, business rates in England, Council Tax and increasingly from fees and charges such as those for decriminalised parking enforcement, on-street parking. In the fiscal year 2023–24, total government revenue was forecast to be £1,139.1 billion, or 40.9 per cent of Gross domestic product, GDP, with income taxes and National Insurance contributions standing at around £470 billion. History A uniform Land Tax (Eng ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Battle For Trade
The battle for trade (; also translated as trade battle or battle over trade) was an element of the state politics in the early period of communist takeover of Poland (1946–49) according to which new laws and regulations succeeded in significantly decreasing the size of the private sector in Polish trade, in order to facilitate the transformation of Polish economy from capitalism to Soviet communism's planned economy. According to historian Anne Applebaum, "The Battle for Trade took the form of rigid price regulation and high taxation, accompanied by criminal penalties for the failure to fill out proper forms, as well as a massive licensing and permit system. All entrepreneurs had to have business licenses that required them to prove they were professionally qualified ... ."Book: Anne Applebaum, Iron Curtain: The Crushing of Eastern Europe, 1944-1956 The larger private shops were nationalized or closed, and government-owned chains (') and cooperatives were created to repl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Income Tax In The United Kingdom
In the United Kingdom, taxation may involve payments to at least three different levels of government: central government (HM Revenue and Customs), devolved governments and local government. Central government revenues come primarily from income tax, National Insurance contributions, value added tax, corporation tax and fuel duty. Local government revenues come primarily from grants from central government funds, business rates in England, Council Tax and increasingly from fees and charges such as those for on-street parking. In the fiscal year 2023–24, total government revenue was forecast to be £1,139.1 billion, or 40.9 per cent of GDP, with income taxes and National Insurance contributions standing at around £470 billion. History A uniform Land Tax, originally introduced in England during the late 17th century, formed the main source of government revenue throughout the 18th century and the early 19th century. Stephen Dowell, ''History of Taxation and Taxes in Engl ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ordinary Income
Under the United States Internal Revenue Code, the ''type'' of income is defined by its character. Ordinary income is usually characterized as income other than long-term capital gains. Ordinary income can consist of income from wages, salaries, tips, commissions, bonuses, and other types of compensation from employment, interest, dividends, or net income from a sole proprietorship, partnership or LLC. Rents and royalties, after certain deductions, depreciation or depletion allowances, and gambling winnings are also treated as ordinary income. A "short term capital gain", or gain on the sale of an asset held for less than one year of the capital gains holding period, is taxed as ordinary income. Ordinary income stands in contrast to capital gain, which is defined as gain from the sale or exchange of a capital asset. A personal residence is a capital asset to the homeowner. By contrast, a land developer who had many houses for sale on many lots would treat each of those ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Unemployment Tax Act
The Federal Unemployment Tax Act (or FUTA, ) is a United States federal law that imposes a federal employer tax used to help fund state workforce agencies. Employers report this tax by filing Internal Revenue Service Form 940 annually. In some cases, employers are required to pay the tax in installments during the tax year. FUTA covers a federal share of unemployment insurance (UI) and job service program administration costs in every state. In addition, FUTA pays one-half the cost of extended unemployment benefits during periods of high unemployment. It also provides a fund that states can borrow from when necessary to pay benefits. Legal basis The legality of FUTA has been affirmed in the 1937 Supreme Court case '' Steward Machine Co. v. Davis''. Amount of tax Until June 30, 2011, the Federal Unemployment Tax Act imposed a tax of 6.2%, which was composed of a permanent rate of 6.0% and a temporary rate of 0.2%, which was passed by Congress in 1976. The temporary rate was exten ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Double Taxation
Double taxation is the levying of tax by two or more jurisdictions on the same income (in the case of income taxes), asset (in the case of capital taxes), or financial transaction (in the case of sales taxes). Double liability may be mitigated in a number of ways, for example, a jurisdiction may: * exempt foreign-source income from tax, * exempt foreign-source income from tax if tax had been paid on it in another jurisdiction, or above some benchmark to exclude tax haven jurisdictions, or * fully tax the foreign-source income but give a credit for taxes paid on the income in the foreign jurisdiction. Jurisdictions may enter into tax treaties with other countries, which set out rules to avoid double taxation. These treaties often include arrangements for exchange of information to prevent tax evasion such as when a person claims tax exemption in one country on the basis of non-residence in that country, but then does not declare it as foreign income in the other country; o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Health Care Reform In The United States
Healthcare reform in the United States is the comprehensive change in the law and conduct of the healthcare system in the United States. Reforms have often been proposed but have rarely been accomplished. In 2010, landmark reform was passed through two federal statutes: the Patient Protection and Affordable Care Act (PPACA), signed March 23, 2010, and the Health Care and Education Reconciliation Act of 2010 (), which amended the PPACA and became law on March 30, 2010. Future reforms of the American health care system continue to be proposed, with notable proposals including a single-payer system and a reduction in fee-for-service medical care. The PPACA includes a new agency, the Center for Medicare and Medicaid Innovation (CMS Innovation Center), which is intended to research reform ideas through pilot projects. History of national reform efforts The following is a summary of reform achievements at the national level in the United States. For failed efforts, state-based ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Government
A government is the system or group of people governing an organized community, generally a State (polity), state. In the case of its broad associative definition, government normally consists of legislature, executive (government), executive, and judiciary. Government is a means by which organizational policies are enforced, as well as a mechanism for determining policy. In many countries, the government has a kind of constitution, a statement of its governing principles and philosophy. While all types of organizations have governance, the term ''government'' is often used more specifically to refer to the approximately 200 list of sovereign states, independent national governments and government agency, subsidiary organizations. The main types of modern political systems recognized are democracy, democracies, totalitarian regimes, and, sitting between these two, authoritarianism, authoritarian regimes with a variety of hybrid regimes. Modern classification systems also ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anarchist
Anarchism is a political philosophy and Political movement, movement that seeks to abolish all institutions that perpetuate authority, coercion, or Social hierarchy, hierarchy, primarily targeting the state (polity), state and capitalism. Anarchism advocates for the replacement of the state with Stateless society, stateless societies and voluntary Free association (communism and anarchism), free associations. A historically left-wing movement, anarchism is usually described as the libertarian wing of the socialist movement (libertarian socialism). Although traces of anarchist ideas are found all throughout history, modern anarchism emerged from the Age of Enlightenment, Enlightenment. During the latter half of the 19th and the first decades of the 20th century, the anarchist movement flourished in most parts of the world and had a significant role in Labour movement, workers' struggles for emancipation. #Schools of thought, Various anarchist schools of thought formed during ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Progressive Taxation
A progressive tax is a tax in which the tax rate increases as the taxable amount increases. The term ''progressive'' refers to the way the tax rate progresses from low to high, with the result that a taxpayer's average tax rate is less than the person's marginal tax rate. The term can be applied to individual taxes or to a tax system as a whole. Progressive taxes are imposed in an attempt to reduce the tax incidence of people with a lower ability to pay, as such taxes shift the incidence increasingly to those with a higher ability-to-pay. The opposite of a progressive tax is a regressive tax, such as a sales tax, where the poor pay a larger proportion of their income compared to the rich (for example, spending on groceries and food staples varies little against income, so poor pay similar to rich even while latter has much higher income). The term is frequently applied in reference to personal income taxes, in which people with lower income pay a lower percentage of that inco ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Provinces Of Canada
A province is an administrative division within a country or sovereign state, state. The term derives from the ancient Roman , which was the major territorial and administrative unit of the Roman Empire, Roman Empire's territorial possessions outside Roman Italy, Italy. The term ''province'' has since been adopted by many countries. In some countries with no actual provinces, "the provinces" is a metaphorical term meaning "outside the capital city". While some provinces were produced artificially by Colonialism, colonial powers, others were formed around local groups with their own ethnic identities. Many have their own powers independent of central or Federation, federal authority, especially Provinces of Canada, in Canada and Pakistan. In other countries, like Provinces of China, China or Administrative divisions of France, France, provinces are the creation of central government, with very little autonomy. Etymology The English language, English word ''province'' is attested ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
