Today a main luxury tax object is the automobile, largely because registration requirements facilitate administration of the tax. But how much more? Individual income tax: A tax on the income of individuals or families, generally applied to wages, salaries, tips, interest, and dividends.
They are not felt in the same degree as direct taxes. No country has adopted a tax with the base of the flat taxalthough many have income taxes with only one rate.
Thus, corporate income faces a higher tax burden than income earned by individuals or by other types of businesses. Thus the amount of total specific tax will vary in accordance with the changes in total output or sales of the commodity and not with the total value of output or sales.
State sales taxes range from 3 to 7 percent, and local sales taxes range from a fraction of 1 percent to 7 percent.
It takes some from those who can, in theory afford it and re-directs this to the more vulnerable members of society. Direct taxes make it necessary to check and scrutinize the each taxpayers account.
VAT possesses certain advantages. When searching on a term with more than one word it is worth checking the 'Match your phrase exactly?