capital levy

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capital levy,

form of taxation by which the government takes part of the capital of any person or business, as distinguished from a tax on personal or business income. It is usually applied to all capital above a certain minimum and may be set aside for a specific purpose, such as the reduction of the public debt. It was used by several European nations experiencing financial difficulties after World War I, and has been advocated as a measure of social welfare and a deterrent to war profits. Opponents of the capital levy stress its implied penalty on saving. In World War II, Great Britain and the United States resorted to extremely high rates of direct taxation in order to accomplish many of the aims of the capital levy.
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Only at that time can any overpaid capital gains tax be repaid.
To illustrate just how valuable these long-term capital gains tax rates can be for investors, here's a simplified example.
With private stock, an investor could be facing a huge capital gains tax bill because these assets generally have very low or even zero cost basis.
The limit on gifts is in relation to a liability to inheritance tax, not capital gains tax.
Former president KSE, Arif Habib has confirmed that finance minister has given clear indication on non raising capital gains tax ration in the upcoming budget.
"So from April 2015, we will introduce Capital Gains Tax on future gains made by non residents who sell residential property here in the UK."
He said in most investments there was not a competitive advantage, despite the Duchy not paying capital gains tax, and the arrangement was "broadly comparable" with other property holding organisations.
In letters to the House Ways and Means and Senate Finance committees, the organization says the current capital gains tax of 15 percent already makes farmers reluctant to sell their operations, thus erecting "an additional barrier to entry for young farmers and ranchers at a time when it is already difficult for them to get into the industry."
To the extent the Bush tax cuts are allowed to sunset, this would bring cap gains from 15 percent to 20 percent, plus the Obamacare capital gains tax increase would bring the rate to 23.8 percent.
Taipei, April 5, 2012 (CENS) -- In emulation of the practice of South Korea, the government may levy capital gains tax for securities on legal entities and major shareholders, while continuing to provide free tax treatment to individual investors.
Summary: CAIRO - Egyptian stocks fell the most in more than seven weeks after the government unveiled a capital gains tax on dividends and higher corporate tax bracket to rein in the budget deficit.
"A high capital gains tax rate, as we have in Oregon, discourages people from investing and encourages current investors to hold onto their assets," said House Republican Leader Kevin Cameron, R-Salem.