The assets tax is a tax on the total assets of a Taxpayer
Your base is usually after deduction of the debts any remaining net assetsProperty taxes were levied in ancient times, such as in the Roman Empire, one in Athens and two, they served, however, for temporary purposes, such as financing the War. In Germany, wealth tax-like levies until the late middle ages were levied mainly on land ownership, these charges of today's reason, were more expensive. three A the total assets accurate asset tax was introduced in Germany for the first time in by the Prussian Supplement tax law. In Germany, the assets tax was not a date-based substance tax, which was calculated from the value of the net assets (gross assets less liabilities) of the Taxpayer. On the basis of assessment of real estate, savings, securities and life insurance policies were, in addition, assets such as motor vehicles, Household items or objects of art property.
Natural persons received pursuant to section six Abs.
one is an allowance of. DM or the equivalent of about. The asset tax was raised most recently in, in that year, it had generated a tax revenue of about billion DM. four of The property tax as the countries tax system, the provinces (art, Para.
In, the Federal constitutional court decided that a different tax burden from property and other assets with a tax on assets, not with the principle of equality (art, Para.
GG) was compatible.
Tax subject to both natural and legal persons
five In the deliberations of the annual tax act of, the then Federal government noted that there was no constitutional compulsion on the abolition of the wealth tax, but not more since that time levied on the net wealth tax with effect from, although the wealth tax act, remain in force. six Out of control a scientific point of view is rejected, the imposition of a wealth tax, among other things, with the following arguments: seven is A particularly great inequality of wealth one of the causes of income inequality and thus inequality in General, eight. Researchers at the German Institute for economic research have calculated that a tax revenue of ten to twenty billion euros per year would be possible. The survey would cost on the same level as for income tax. nine, According to the Union middle The Institute for macroeconomics and economic research is slowing at a reformed property tax, the wealth concentration at the very least. eight In France since, a wealth tax, but only on private assets, not business assets. Prime Minister Jacques Chirac abolished them in and. ten, she has contributed to out-migration of wealthy taxpayers in particular, in Belgium and in Switzerland. eleven In the autumn of has increased the property tax by the socialist government under President François Hollande. twelve, The tax is now a assets of. Euro, previously the threshold was EUR. The input tax rate was to be increased to. in the case of assets of, for example, million Euro. (around.) taxes are calculated. thirteen Emmanuel Macron, President since may of, has initiated the transformation of the tax into a pure tax on real estate. Also, luxury items such as yachts to be taxed, but what is seen rather as a symbolic measure.
The Wealth tax is expected to fall by more than three billion euros.
ten In Switzerland (at the cantonal and municipal level), in Norway and in India, fifteen property taxes are, to a varying extent, also in Liechtenstein. sixteen In Japan are levied on the Basis of a law from the year property taxes at the municipal level, which, however, refer only to real property and depreciable business assets. Belgium, Lithuania and the United Kingdom are familiar with in your history, no wealth tax. Also in Bulgaria, Estonia, Latvia, Malta, Poland, Portugal, Romania, Slovakia, Slovenia, the Czech Republic, Cyprus and Australia, there is no General wealth tax.
This is also true for Canada and the United States, even if individual assets such as land, in one of the German tax equivalent manner, to be taxed.
Wealth taxes have been abolished Ireland (survey up to), Austria (survey, until, seventeen), Italy (survey on the net assets of the company until), Denmark (survey and), Finland (survey up to), Iceland (survey up to, eight, ten), Sweden (survey-) and Spain (survey from to and for the term from to, nine out of ten). In Luxembourg, an asset existed only until the tax for natural persons, a tax on the net assets of legal persons is, however, still raised. In the US, the assets have been tax abolished almost everywhere. Only in some States and counties (districts) is still formal. All of the assets related to the tax revenue of the US fed almost exclusively from the U.S. estate tax, and the second most important item there is in the Rest of the tax. twenty of Greece led, in, a property tax, subject, however, Essentially only basic assets and, therefore, more of the German Basic tax.
Hungary introduced with effect from, a property tax on residential real estate and certain luxury goods.
The real estate taxation, however, was not completed due to a judgment of the constitutional court. twenty-one International, the OECD, also apply to the property tax, motor vehicle tax, tax on business capital, second home tax, dog tax, inheritance tax and gift tax to as wealth taxes. twenty-two of These wealth-related taxes in Germany, in the OECD comparison in volume is below average for control. They provide in Germany, the German Institute for economic research showed that only a rise of. This is almost half the average of major industrial countries. twenty-three, in the view of Stefan Bach, Deputy head of the Department of state of the German Institute for economic research, asset-based taxes could taxes (especially inheritance and Property tax), which are tailored to especially Rich, about five to ten billion euros a year to provide, without greater economic disadvantages for Germany (capital flight, or the like). These are, for example, would nine billion euros, more than a Raising of the top tax rate to (currently about) from annual taxable income of sixty, Euro (currently from to), in addition to provide. twenty-four twenty-five In an international comparison, Germany and Austria impose, according to OECD Figures very low asset-related taxes. In the UK, which charges a high land tax, the wealth-related taxes, however, about of the GDP. To note twenty-six, however, is that in this relatively high percentage of the revenue from the UK stamp tax on share transactions is included. Wealth and gift taxes do not exist in the UK. twenty wealth-related taxes are usually the local authorities (municipalities, regions). Often, these authorities can set the tax rates themselves.
