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Flat tax information


A flat tax (short for flat-rate tax) is a tax with a single rate on the taxable amount, after accounting for any deductions or exemptions from the tax base. It is not necessarily a fully proportional tax. Implementations are often progressive due to exemptions, or regressive in case of a maximum taxable amount. There are various tax systems that are labeled "flat tax" even though they are significantly different. The defining characteristic is the existence of only one tax rate other than zero, as opposed to multiple non-zero rates that vary depending on the amount subject to taxation.

A flat tax system is usually discussed in the context of an income tax, where progressivity is common, but it may also apply to taxes on consumption, property or transfers.

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Flat tax

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flat tax (short for flat-rate tax) is a tax with a single rate on the taxable amount, after accounting for any deductions or exemptions from the tax base...

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State income tax

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income tax collected by the United States, most individual U.S. states collect a state income tax. Some local governments also impose an income tax, often...

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Capital gains tax

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is considered tax-free. Also, non-residents have no tax on capital gains. The Corporate tax rate is 10%. The personal tax rate is flat at 10%. There is...

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Tax rate

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have a flat statutory rate. The statutory tax rate is expressed as a percentage and will always be higher than the effective tax rate. An average tax rate...

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Taxation in Sweden

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(6%). Sweden has a flat tax at every level of government, however, because the national tax has a much higher exemption, the combined tax rate by all levels...

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Proportional tax

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proportional taxes. Flat taxes are defined as levying a fixed (“flat”) fraction of taxable income. A flat tax is a tax with a single rate on the taxable amount...

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Consumption tax

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sales tax or a value-added tax. However, a consumption tax can also be structured as a form of direct, personal taxation, such as the Hall–Rabushka flat tax...

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Tax amnesty

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Tax amnesty allows taxpayers to voluntarily disclose and pay tax owing in exchange for avoiding tax evasion penalties. It is a limited-time opportunity...

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Tax

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government. Some countries levy a flat percentage rate of taxation on personal annual income, but most scale taxes are progressive based on brackets of...

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Inheritance tax

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International tax law distinguishes between an estate tax and an inheritance tax. An inheritance tax is a tax paid by a person who inherits money or property...

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Progressive tax

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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...

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Estate tax in the United States

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In the United States, the estate tax is a federal tax on the transfer of the estate of a person who dies. The tax applies to property that is transferred...

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List of taxes

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but has been proposed at other times. Flat tax, an income tax where everyone pays the same tax rate. Gift tax, a tax on gifts given (generally paid by the...

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Tourist tax

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Spanish municipalities also charge local hotel tax of a few euros flat fee. In Greece the hotel tax, charged from 2018, ranges from 0.50 euros to 4 euros...

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Regressive tax

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A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases. "Regressive" describes a distribution...

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Tax reform

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Proposals FairTax Flat tax Hall-Rabushka flat tax Land value tax OneTax 9–9–9 Plan Automated Payment Transaction tax Kepner Income Tax Related concepts...

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Taxation in Bulgaria

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taxes and value added tax. On the local level, property taxes as well as various fees are collected. All income earned in Bulgaria is taxed on a flat...

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Abgeltungsteuer

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Abgeltungsteuer (German, from Abgeltung "settlement", "discharge" + Steuer "tax") is a flat tax on private income from capital. It is used in Germany, Austria, and...

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Income tax

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known as corporate tax and is commonly levied at a flat rate. Individual income is often taxed at progressive rates where the tax rate applied to each...

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List of countries by tax rates

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types of taxes: corporate tax, individual income tax, and sales tax, including VAT and GST and capital gains tax, but does not list wealth tax or inheritance...

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Jock tax

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tax in July 2009, which it called a "privilege tax", and later repealed in April 2014. The tax was unique in several respects. First, it was a flat-rate...

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Corporate tax in the United States

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corporate tax rate in the United States of America is a flat 21% following the passage of the Tax Cuts and Jobs Act of 2017. State and local taxes and rules...

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Income tax in the United States

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income tax at a graduated rate, and some at a flat rate on all taxable income. Individuals are eligible for a reduced rate of federal income tax on capital...

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Church tax

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A church tax is a tax collected by the state from members of some religious denominations to provide financial support of churches, such as the salaries...

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Federal Insurance Contributions Act

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Security component is a flat tax for wage levels under the Social Security Wage Base (see "Regular" employees above). Because no tax is owed on wages above...

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Ad valorem tax

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advocated a flat tax on lands based on the original unimproved value of the latters in their natural state, the "land value tax". George believed this tax was...

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Single tax

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single tax, but, rejecting the claim that land has certain economic properties which make it uniquely suitable for taxation, they instead proposed a flat tax...

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Taxation in the United States

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separate federal, state, and local governments with taxes imposed at each of these levels. Taxes are levied on income, payroll, property, sales, capital...

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