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An excess profits tax, EPT, is a tax on returns or profits which exceed risk-adjusted normal returns. The concept of excess profit is very similar to that of economic rent.[1] Excess profit tax can be imposed on individuals or corporations.[2] Excess profit taxes are usually imposed on monopolist industries.[1]
Excess profits taxes have often, but not exclusively, been imposed during wartime or in response to an event which provides some with an extraordinary ability to earn windfall gains. Windfall taxes have often been proposed, and sometimes imposed, in order to discourage profiteering from temporary increases in resource prices, such as those for oil or gas. Wartime excess profits taxes, or War Profits Taxes, have been employed to reduce perverse incentives to engage in war profiteering. Excess profit taxes are used during times of difficulties in a country because it reduces income inequality and redistributes wealth.[2]
^ abHebous, Shafik; Prihardini, Dinar; Vernon, Nate (September 2022). Excess Profit Taxes: Historical Perspective and Contemporary Relevance. International Monetary Fund. Retrieved 17 April 2024.
the federal estate tax. The entry of the United States into World War I greatly increased the need for revenue. An excessprofitstax was introduced and...
windfall tax is a higher tax rate on profits that ensue from a sudden windfall gain to a particular company or industry. There have been windfall taxes in various...
Economic rent War profiteering Windfall profitsExcessprofitstax Alan V. Deardorff, 2006. "Excessprofit," Deardorff's Glossary of International Economics...
tax or capital tax, depending on the nature of the tax. The purpose of corporate tax is to generate revenue for the government by taxing the profits earned...
increased federal excise taxes on, among other things, alcohol, jewelry, telephones, and admissions, and raised the excessprofitstax rate from 90% to 95%...
repealed the excessprofitstax, reduced individual income tax rates (the top rate fell from 94 percent to 86.45 percent), and reduced corporate tax rates (the...
excise tax increases of 1940, increased the excessprofitstax by 10 percentage points (top rate rose from 50 to 60 percent) and increased corporate tax rates...
Instead, there was an excessprofitstax, of 50% on profits above the normal pre-war level; the rate was raised to 80% in 1917. Excise taxes were added on luxury...
paying taxes on foreign profits. Under U.S. tax law, companies are not required to pay U.S. tax on their foreign subsidiaries’ profits for many years, even...
significant tax reduction was necessary in order to spur economic expansion and restore prosperity. Mellon obtained repeal of the wartime excessprofitstax. The...
Victory tax on all individual incomes over $624 was created, with postwar credit. The 35-60% graduated rate schedule for excessprofitstax was replaced...
corporation. Dividend tax is a tax on dividends paid to shareholders of a company. Excessprofitstax is a tax on unusually high profits levied on a corporation...
that taxes will generate federal revenues as follows: 2023 one off excessprofitstax A one off tax raised in 2023 claiming back 10% of excessprofits when...
income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income)...
in value. Many systems, including the United Kingdom, levy tax on all chargeable "profits of a trade" computed under local generally accepted accounting...
no matter whether the profit was made outside the US or not, in contrast to "territorial" tax systems which tax only profits made within that country...
Deferred tax is a notional asset or liability to reflect corporate income taxation on a basis that is the same or more similar to recognition of profits than...
there was an excessprofitstax, of 50 percent of profits above the normal prewar level; the rate was raised to 80 percent in 1917. Excise taxes were added...
sourced, and untaxed, profits. The "employment tax" is, therefore, a modest price to pay for achieving very low taxes on global profits, and it can be mitigated...
erosion and profit shifting (BEPS) refers to corporate tax planning strategies used by multinationals to "shift" profits from higher-tax jurisdictions...
sterling. Corporation tax in the United Kingdom is a corporate tax levied in on the profits made by UK-resident companies and on the profits of entities registered...
A capital gains tax (CGT) is the tax on profits realized on the sale of a non-inventory asset. The most common capital gains are realized from the sale...
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