"Capital tax" redirects here. For taxes on investment income, see capital gains tax.
For the tax formerly targeting wealthy minorities in Turkey, see Varlık Vergisi.
Not to be confused with capital levy.
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v
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A wealth tax (also called a capital tax or equity tax) is a tax on an entity's holdings of assets or an entity's net worth. This includes the total value of personal assets, including cash, bank deposits, real estate, assets in insurance and pension plans, ownership of unincorporated businesses, financial securities, and personal trusts (a one-off levy on wealth is a capital levy).[1] Typically, wealth taxation often involves the exclusion of an individual's liabilities, such as mortgages and other debts, from their total assets. Accordingly, this type of taxation is frequently denoted as a netwealth tax.
As of 2017[update], five of the 36 OECD countries had a personal wealth tax (down from 12 in 1990).[2]
Proponents often argue that wealth taxes can reduce income inequality by making it harder for individuals to accumulate large amounts of wealth.[1] Many critics of wealth taxes claim that wealth taxes can cause wealthy people and businesses to move their wealth to lower tax jurisdiction (such as tax havens).[3]
^ abEdward N. Wolff, "Time for a Wealth Tax?", Boston Review, Feb–Mar 1996 (recommending a net wealth tax for the US of 0.05% for the first $100,000 in assets to 0.3% for assets over $1,000,000
^"Global Revenue Statistics Database".
^Pichet, Eric (June 17, 2011). "The Economic Consequences of the French Wealth Tax". SSRN 1268381.
A wealthtax (also called a capital tax or equity tax) is a tax on an entity's holdings of assets or an entity's net worth. This includes the total value...
The solidarity tax on wealth (French: Impôt de solidarité sur la fortune, ISF) was an annual direct wealthtax on those in France having assets in excess...
types of taxes: corporate tax, individual income tax, and sales tax, including VAT and GST and capital gains tax, but does not list wealthtax or inheritance...
annual tax on wealth in January 2019, specifically a 2% tax for wealth over $50 million and another 1% surcharge on wealth over $1 billion. Wealth is defined...
the ability and the right to say who was taxed and who received special treatment. Another early form of wealth redistribution occurred in Plymouth Colony...
tax incentives and new legal rights encourages the devotion of vast wealth to perpetual trusts designed to benefit distant generations, avoid taxes,...
The WealthTax Commission in the United Kingdom was a group of experts studying the desirability and feasibility of a wealthtax. The three Commissioners...
Entrate). Total tax revenue in 2018 was 42.4% of GDP. The main earnings are income tax, social security, corporate tax and value added tax. All of these...
There is a distinction to be made between taxes (impôts), which applies to production, importations, wealth and incomes, and social contributions (cotisations...
determines each year the maximum tax rates applied to the municipal income and wealthtax to the county income tax. Municipalities and county councils...
multiple taxes with passage of time and imposed new ones. A few of these taxes include inheritance tax, interest tax, gift tax, wealthtax, etc. WealthTax Act...
tax or income tax is a tax imposed upon a person or property as distinct from a tax imposed upon a transaction, which is described as an indirect tax...
the taxpayer themselves or together with their tax partner. Box 3 concerns income from wealth. Wealth is calculated as value of assets (such as savings...
Group would serve the wealth and tax advisory needs of high-net-worth individuals. On December 31, 2007, HSBC USA Inc. sold Wealth & Tax Advisory Services...
A land value tax is a progressive tax, in that the tax burden falls on land owners, because land ownership is correlated with wealth and income. The...
Tax policy and economic inequality in the United States discusses how tax policy affects the distribution of income and wealth in the United States. Income...
"Share Our Wealth Speech". To stimulate the economy, the Share Our Wealth program called for massive federal spending, a wealthtax, and wealth redistribution...
except on the income and wealth from foreign business or real estate, or where tax treaties limit double taxation. For tax purposes, residence may also...
introduced a wealthtax of about 1% and a flat poll tax on each adult; this made the tax system less progressive, as it no longer only taxedwealth. In India...
wealth and was in favour of wealthtax. Engelhorn is also the founder of Tax me now, a German initiative lobbying for higher taxes on the wealthy. Marlene...
high-quality wealthtaxes and honest reporting from financial institutions, such as the Netherlands and Norway, tend to have more reliable wealth inequality...
taxation acts were enacted: the wealth-tax Act 1957, the Expenditure Tax Act, 1957, and the Gift Tax Act, 1958. The Direct Taxes Administration Enquiry Committee...
Global Information
