Book contents
- Tax and Government in the Twenty-First Century
- Law in Context
- Tax and Government in the Twenty-First Century
- Copyright page
- Epigraph
- Contents
- Figures
- Tables
- Boxes
- Acknowledgements
- Acronyms
- Part I Principles and Concepts
- Part II Tax Law in Context
- 5 Tax, Work and Family
- 6 Taxation of Saving and Wealth
- 7 Corporate and Business Taxation
- 8 Tax, Charity and Philanthropy
- 9 Administration, Compliance and Avoidance
- Part III The Tax State in the Global Digital Era
- References
- Index
6 - Taxation of Saving and Wealth
from Part II - Tax Law in Context
Published online by Cambridge University Press: 01 September 2022
Book contents
- Tax and Government in the Twenty-First Century
- Law in Context
- Tax and Government in the Twenty-First Century
- Copyright page
- Epigraph
- Contents
- Figures
- Tables
- Boxes
- Acknowledgements
- Acronyms
- Part I Principles and Concepts
- Part II Tax Law in Context
- 5 Tax, Work and Family
- 6 Taxation of Saving and Wealth
- 7 Corporate and Business Taxation
- 8 Tax, Charity and Philanthropy
- 9 Administration, Compliance and Avoidance
- Part III The Tax State in the Global Digital Era
- References
- Index
Summary
Today, the opposite applies in most successful tax states. Progressive tax rates apply to labour income but capital income and gains are often taxed at lower rates, while a variety of exemptions, concessions and reduced tax rates apply to some kinds of saving. This lower tax on capital income and gains is combined with a corporate tax rate that is almost always lower than the top marginal income tax rate (see further Chapter 7). Wealth and inheritance taxes have been repealed or significantly reduced in many countries since the 1980s.
- Type
- Chapter
- Information
- Tax and Government in the 21st Century , pp. 144 - 176Publisher: Cambridge University PressPrint publication year: 2022