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Robert Hoyland describes it as a poll tax originally paid by "the conquered people" to the mostly-Arab conquerors, but it later became a "religious tax, payable only by non-Muslims". [ 180 ] Jews and Christians in some southern and eastern areas of the Arabian Peninsula began to pay tribute, called jizya , to the Islamic state during Muhammad's ...
The religion of Islam has a concept sometimes described as a wealth tax called Zakat. [34] [35] Iceland had a wealth tax until 2006 and a temporary wealth tax reintroduced in 2010 for four years. The tax was levied at a rate of 1.5% on net assets exceeding 75,000,000 kr for individuals and 100,000,000 kr for married couples. [citation needed]
A poll tax, also called a per capita tax, or capitation tax, is a tax that levies a set amount per individual. It is an example of the concept of fixed tax. One of the earliest taxes mentioned in the Bible of a half-shekel per annum from each adult Jew (Ex. 30:11–16) was a form of the poll tax. Poll taxes are administratively cheap because ...
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income. Taxation rates may vary by type or characteristics of the taxpayer and the type of income.
Georgism, in modern times also called Geoism, [2] [3] and known historically as the single tax movement, is an economic ideology holding that people should own the value that they produce themselves, while the economic rent derived from land—including from all natural resources, the commons, and urban locations—should belong equally to all members of society.
Underpayment of Estimated Tax by Corporations Penalty. This type of penalty is intended for corporations that have not made sufficient payments based on estimated tax or simply have not paid in a timely manner. Generally, corporations make these payments on a quarterly basis when they expect to pay over USD 500 on their tax return.
Today, the estate tax is a tax imposed on the transfer of the "taxable estate" of a deceased person, whether such property is transferred via a will or according to the state laws of intestacy. The estate tax is one part of the Unified Gift and Estate Tax system in the United States. The other part of the system, the gift tax, imposes a tax on ...
Gains on real property exchanged for like-kind property are not recognized, and the tax basis of the new property is based on the tax basis of the old property. Before 1986 and from 2004 onward, individuals were subject to a reduced rate of federal tax on capital gains (called long-term capital gains) on certain property held more than 12 months.