flat tax


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Related to flat tax: National Sales Tax

flat tax

n.
An income tax having a single rate for all taxpayers regardless of income level and type.
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References in periodicals archive ?
For all the interest surrounding the changes in the income-tax bracket, not enough spotlight has been shone on the optional flat tax.
Members of the bicam have agreed to make the 8% flat tax optional for those earning below P3 million so they can choose whether to opt for the 8% flat tax or the schedular personal income tax.
In the old scheme under the 1997 Tax Code, the income ranges and schedules are different with smaller increments, with a 5-percent tax on those earning no more than P10,000; a P500 flat tax plus 10 percent of the excess for those earning P10,000 to P30,000; a P50,000 flat tax plus 30 percent of the excess for those with incomes ranging from over P250,000 to P500,000, and so on.
Addressing a seminar "Viability of Flat Taxation in Pakistan" organized by the Lahore Chamber of Commerce and Industry on Saturday, the speakers said as compared to traditional tax system, a flat tax was extremely simple.
Texas) testified on behalf of the Flat Tax Act, his proposal to give businesses and individuals the choice to opt in to a 17% flat tax and to be taxed on a cash flow basis for business activities.
In 2007, Macedonia introduced a flat tax rate of 10 percent.
We introduced the lowest flat tax in Europe of 10%, we liberated companies from paying taxes for undistributed income, by introducing corporate income tax of 0% if the profit is reinvested, and we reduced the contribution rates for pension and health insurance.
Four of the major Republican candidates fighting for their party's presidential nomination have come out in favor of a flat tax rate as the cure for what they see as a slow-growing economy and stagnant job growth.
senator from Texas rolled out the plan minutes before he took the stage at the third Republican presidential debate, where he touted his proposed flat tax as the "lowest personal rate any candidate up here has.
Bulgaria will keep its flat tax rate of 10%, Parliament has decided, rejecting motions to re-introduce progressive taxation.
Chancellor George Osborne has championed the concept of a flat tax rate and Conservative policy chief Oliver Letwin Letwin was taped saying it would be back on the agenda when the nation's finances improved.
Tread with interest "Simulating a Flat Tax Model: What Are the Likely Outcomes," and I would like to congratulate the authors on their deep analysis of the topic (Brita Boudreau and Thomas M Dalton, The CPA Journal, October 2013, pp.