INDIVIDUAL INCOME TAX ON THE RICH

2021 ◽  
Vol 4 (4) ◽  
pp. 45-53
Author(s):  
G. N. SEMENOVA ◽  
Keyword(s):  
Russian Federation ◽  
Income Tax ◽  
Personal Income ◽  
Annual Income ◽  
Tax Rates ◽  
Personal Income Tax ◽  
Tax Rate ◽  
Single Tax ◽  
The Russian Federation ◽  
The Rich

The article deals with the taxation of income of individuals with income tax. Income tax rates in different tax periods changed many times were progressive and depended on the size of the total annual income of individuals. Since 2001, with the adoption of the Tax Code of the Russian Federation, a single tax rate on personal income has been established in the amount of 13%. The coronavirus pandemic has impacted busi-ness activities as well as tax revenues. From January 01.01.2021, 15, an additional personal income tax rate of 5% has been established, which will affect the rich whose income will exceed 5 million rubles. The article exam-ines the foreign practice of taxing income of individuals.

Receiving a social tax deduction on personal income tax through an employer: amendments to the Tax Code of the Russian Federation

2021 ◽  
pp. 25-31
Author(s):  
O.V. Shinkareva ◽  
S.A. Kormacheva
Keyword(s):  
Russian Federation ◽  
Income Tax ◽  
Personal Income ◽  
Personal Income Tax ◽  
Tax Deductions ◽  
The Russian Federation ◽  
To Receive ◽  
Tax Deduction

Article analyzes changes which the employers performing functions of the tax agent on an income tax will face since the beginning of 2022. Changes have been made to the Tax Code of the Russian Federation, which not only expand the range of social tax deductions, but also in some cases change the format of interaction between the employer and the employee, which he decided to receive a social tax deduction for personal income tax. The peculiarities of obtaining various types of social tax deductions through the employer, changes that will come into force in 2022 in this area, as well as the necessary documents are disclosed on the basis of which the employer provides the employee with social tax deductions.

scholarly journals Personal Income Taxation in Poland

Ekonomika ◽  
2008 ◽  
Vol 84 ◽  
Author(s):  
Edyta Małecka-Zieńska
Keyword(s):  
Income Tax ◽  
Value Added ◽  
Personal Income ◽  
Tax Rates ◽  
Personal Income Tax ◽  
Tax Rate ◽  
Tax Exemptions ◽  
Tax Deductions ◽  
The One ◽  
Taxation System

The Polish taxation system has been undergoing substantial changes in recent years, aimed at creating a more transparent system and conforming to the taxation standards of market economy countries. The two most important changes were introduction of the personal income tax (PIT) in 1992 and replacement of the turnover tax with the value added tax (VAT) in 1993. The uniform personal income tax covered all incomes generated by natural persons irrespective of where the sources of income are located. The reform provided also a more equitable distribution of the tax burden by introducing a progressive system with three nominal tax rates (in 1992-20%, 30%, 40%).A comparative study of the effective PIT rate for pensioners and other groups of PIT payers is the main goal of this paper. The study refers to our own research on data received from The information of Polish Ministry of Finance about accounting of PIT in several subsequent years. Statistics cover a period from 1993 to 2003. However, numbers of taxpayers refer also to year 1992 when the PIT has been established and a period from 2004 to 2006.Concluding the situation in Poland, taxpayers with the highest income make exhaustive use of tax reductions. There are occurring situations when well-off people benefit more than people with relatively minor income (e. g. pensioners). It happens even if most of deductions were aimed generally at all taxpayers. Such a situation reduces the impression of the system fairness. Because tax deductions reduce budgetary revenues, the foregone revenues have to be compensated by other taxes or / and higher rates. Therefore, the system of deductions and relief, on the one hand, supports the special gains (e. g. house building), however, on the other it generates costs. It is possible that the reduction of tax rate for the I tax bracket and removal of some tax exemptions and deductions would make the Polish personal income tax more transparent, equal and simple.

scholarly journals Penyesuaian Lapisan dan Tarif PPh Orang Pribadi: Agresif atau Progresif?

Owner ◽  
2022 ◽  
Vol 6 (1) ◽  
pp. 709-721
Author(s):  
Kalyana Mitta Kristanti
Keyword(s):  
Income Tax ◽  
Positive Impact ◽  
Personal Income ◽  
Tax Rates ◽  
Personal Income Tax ◽  
Middle Income ◽  
Tax Rate ◽  
Tax Harmonization ◽  
The Difference ◽  
The Government

In 2022, Indonesia would apply changes in tax brackets and rates for personal income tax. This adjustment is based on the Article 17 Paragraph 1 Tax Harmonization Law Number 7 of 2021. The government tries to accommodate the needs of the community through formulating process of this regulation. In particular, it provides convenience to the lower-middle income community and encourages an even distribution of income. People belonging to the high wealth income will be subject to the highest tariffs that have just been set through this law. Through a qualitative descriptive method in which data collection is carried out by taking from literature review; law, articles, books, and website, the author tries to analyze changes in brackets and rates of personal income tax. This study presents illustrations of the calculation to explain the difference in the amount of income tax payable before and after the implementation of the Tax Harmonization Law. In addition, the analysis of the principles of equity and democracy on the adjustment of layers and tax rates is elaborated in this paper. The results obtained explain that with the application of the new tax rate, taxpayers get a tax burden relief because the tax expense is lower due to the broadening of income range. However, wealthy taxpayers will pay more taxes because of the higher tax rates. This condition proves that the new tax rate supports vertical fairness in the taxation system. In addition, the implementation of regulations related to tax rates adjustment provides evidence that the implementation of democracy has been implemented. The adjustment of tax brackets and rates has a positive impact on the community and the government so that the allocation of tax revenues can run optimally to support the welfare of the community.

scholarly journals Are Local Tax Rates Strategic Complements or Strategic Substitutes?

2019 ◽  
Vol 11 (2) ◽  
pp. 189-224 ◽  
Author(s):  
Raphaël Parchet
Keyword(s):  
Public Good ◽  
Local Governments ◽  
Income Tax ◽  
Economies Of Scale ◽  
Personal Income ◽  
Tax Rates ◽  
Strategic Substitutes ◽  
Personal Income Tax ◽  
Tax Rate ◽  
The Public

The identification of strategic interactions among local governments is typically plagued by endogeneity problems. I exploit the fact that local jurisdictions located close to a state border have some neighbors in another state and instrument the tax rate of neighbor jurisdictions with the state-level tax rate of the neighboring state. I use this instrument to identify strategic personal income tax setting by local jurisdictions in Switzerland and find that tax rates are strategic substitutes. I then develop a residence-based personal income tax competition model and show that tax rates are strategic substitutes if the elasticity of the marginal utility of the public good with respect to the tax rate is above one. This is notably the case in the presence of economies of scale in the public good provision. (JEL H24, H71, H73, H77)

INCREASE IN THE TAX BURDEN OF INDIVIDUALS IN THE RUSSIAN FEDERATION

2021 ◽  
Vol 4 (4) ◽  
pp. 86-88
Author(s):  
A. A. AKSENOVA ◽  
Keyword(s):  
Russian Federation ◽  
Income Tax ◽  
Personal Income ◽  
Tax Burden ◽  
Personal Income Tax ◽  
The Russian Federation

The article deals with the increase in the tax burden of individuals due to the expansion of taxable objects and the introduction of a new increased rate on personal income tax, on incomes exceeding 5 million rubles.

scholarly journals Development of Taxation of Income of Individuals in the Russian Federation Based on Foreign Experience

2020 ◽  
Vol 20 (4) ◽  
pp. 412-421
Author(s):  
Alexandra O. Ryndina ◽  
◽  
Maria S. Zhverantseva ◽  
Tatiana E. Totikova ◽  
◽  
...  
Keyword(s):  
Russian Federation ◽  
Income Tax ◽  
The United States ◽  
Personal Income ◽  
Income Taxation ◽  
Personal Income Tax ◽  
Social Significance ◽  
Foreign Experience ◽  
The Russian Federation ◽  
The Common

Introduction. The issue of reforming the taxation of personal income has not left the agenda in recent decades. The importance of solving this issue is determined by the high economic and social significance of personal income tax and its impact on the labor market and consumption. Theoretical analysis. The article analyzes the statistics of the Federal Tax Service on income tax on physical incomes in the budget system of the country, identifies and substantiates the problems of income taxation in the Russian Federation. Discussion of results. A study of the characteristics of income taxation in the United States, Norway and Sweden revealed the common features and differences in the principles of constructing a system of income taxation in the studied countries and the Russian Federation. The analysis made it possible to substantiate measures to improve the system of income taxation of the Russian Federation based on foreign experience and evaluate the expected effect of some measures.

scholarly journals Using banking statistics to assess the SME sector in the Russian Federation

2021 ◽  
Vol 227 (1) ◽  
pp. 161-181
Author(s):  
Anastasia O. Alekhnovich ◽  
◽  
Leonid L. Anuchin ◽  
Anton O. Akhiev ◽  
◽  
...  
Keyword(s):  
Comparative Analysis ◽  
Administrative Data ◽  
Russian Federation ◽  
Income Tax ◽  
Growth Index ◽  
The State ◽  
Personal Income ◽  
Personal Income Tax ◽  
Official Statistics ◽  
The Russian Federation

With the development of technologies for collecting, processing and storing data, many countries started to upgrade the systems of official statistics, complementing it with big and administrative data. One of the most detailed and operative sources of data on the economy is banking statistics. The article presents the results of a comparative analysis of the data of the SME Growth Index, formed on the basis of the data of Sberbank, and the data of the Federal Tax Service of the Russian Federation. The analysis showed that the data of banking statistics correspond to the data of the Federal Tax Service of Russia both in the distribution of observations in various sections (regions of the Russian Federation, size of the business), and make it possible to more quickly obtain data on the state of the sector, and can be used both for analyzing the SME sector and forecast parameters of its development. Based on the analysis of banking statistics for the 3rd quarter of 2020, the effect of “the sector whitewashing” and an increase in deductions on insurance premiums and personal income tax due to a decrease in the rate on insurance charges for SMEs from 30% to 15% was revealed. Further analysis based on data from the Federal Tax Service of Russia also confirmed this conclusion.

Federal Personal Income Tax Policy in the 1920s

1995 ◽  
Vol 55 (2) ◽  
pp. 285-303 ◽  
Author(s):  
Gene Smiley ◽  
Richard H. Keehn
Keyword(s):  
World War I ◽  
Income Tax ◽  
Tax Avoidance ◽  
Personal Income ◽  
Tax Rates ◽  
Personal Income Tax ◽  
World War ◽  
Tax Rate ◽  
Income Tax Policy ◽  
Tax Cuts

During the 1920s, federal personal income tax rates, which had been dramatically increased during World War I, were sharply reduced. These tax rate cuts have often been cited as an example of a successful supply-side policy, but they have also been criticized as policies designed primarily to benefit the wealthy. We argue that a primary motive for the tax cuts of the 1920s was the desire to reduce the tax avoidance by wealthier individuals that occurred as a result of the previous tax rate increases and that the tax cuts enacted did reduce tax avoidance.

Sign in / Sign up

Export Citation Format

Share Document