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A property tax is an ad valorem tax on the value of a property.
In the United Kingdom, taxation may involve payments to at least three different levels of government: central government, devolved governments and local government. Central government revenues come primarily from income tax, National Insurance contributions, value added tax, corporation tax and fuel duty. Local government revenues come primarily from grants from central government funds, business rates in England, Council Tax and increasingly from fees and charges such as those for on-street parking. In the fiscal year 2023–24, total government revenue was forecast to be £1,139.1 billion, or 40.9 per cent of GDP, with income taxes and National Insurance contributions standing at around £470 billion.
Taxation in Ireland in 2017 came from Personal Income taxes, and Consumption taxes, being VAT and Excise and Customs duties. Corporation taxes represents most of the balance, but Ireland's Corporate Tax System (CT) is a central part of Ireland's economic model. Ireland summarises its taxation policy using the OECD's Hierarchy of Taxes pyramid, which emphasises high corporate tax rates as the most harmful types of taxes where economic growth is the objective. The balance of Ireland's taxes are Property taxes and Capital taxes.
International tax law distinguishes between an estate tax and an inheritance tax. An inheritance tax is a tax paid by a person who inherits money or property of a person who has died, whereas an estate tax is a levy on the estate of a person who has died. However, this distinction is not always observed; for example, the UK's "inheritance tax" is a tax on the assets of the deceased, and strictly speaking is therefore an estate tax. Inheritance taxes vary widely between countries.
Due to the absence of the tax code in Argentina, the tax regulation takes place in accordance with separate laws, which, in turn, are supplemented by provisions of normative acts adopted by the executive authorities. The powers of the executive authority include levying a tax on profits, property and added value throughout the national territory. In Argentina, the tax policy is implemented by the Federal Administration of Public Revenue, which is subordinate to the Ministry of Economy. The Federal Administration of Public Revenues (AFIP) is an independent service, which includes: the General Tax Administration, the General Customs Office and the General Directorate for Social Security. AFIP establishes the relevant legal norms for the calculation, payment and administration of taxes:
Taxes in Iceland are levied by the state and the municipalities. Property rights are strong and Iceland is one of the few countries where they are applied to fishery management. Taxpayers pay various subsidies to each other, similar to European countries that are welfare states, but the spending is less than in most European countries. Despite low tax rates in relation to European welfare states, overall taxation and consumption is still much higher than in countries such as Ireland. Employment regulations are relatively flexible. The tax is collected by Skatturinn, the Iceland Revenue and Customs Agency and is due in March each year.
In Austria, taxes are levied by the state and the tax revenue in Austria was 42.7% of GDP in 2016 according to the World Bank The most important revenue source for the government is the income tax, corporate tax, social security contributions, value added tax and tax on goods and services. Another important taxes are municipal tax, real-estate tax, vehicle insurance tax, property tax, tobacco tax. There exists no property tax. The gift tax and inheritance tax were cancelled in 2008. Furthermore, self-employed persons can use a tax allowance of €3,900 per year. The tax period is set for a calendar year. However, there is a possibility of having an exception but a permission of the tax authority must be received. The Financial Secrecy Index ranks Austria as the 35th safest tax haven in the world.
Taxation in Italy is levied by the central and regional governments and is collected by the Italian Agency of Revenue. Total tax revenue in 2018 was 42.4% of GDP. The main earnings are income tax, social security, corporate tax and value added tax. All of these are collected at national level, but some differ across regions. Personal income taxation in Italy is progressive.
Taxes in Germany are levied at various government levels: the federal government, the 16 states (Länder), and numerous municipalities (Städte/Gemeinden). The structured tax system has evolved significantly, since the reunification of Germany in 1990 and the integration within the European Union, which has influenced tax policies. Today, income tax and Value-Added Tax (VAT) are the primary sources of tax revenue. These taxes reflect Germany's commitment to a balanced approach between direct and indirect taxation, essential for funding extensive social welfare programs and public infrastructure. The modern German tax system accentuate on fairness and efficiency, adapting to global economic trends and domestic fiscal needs.
Taxation may involve payments to a minimum of two different levels of government: central government through SARS or to local government. Prior to 2001 the South African tax system was "source-based", where in income is taxed in the country where it originates. Since January 2001, the tax system was changed to "residence-based" wherein taxpayers residing in South Africa are taxed on their income irrespective of its source. Non residents are only subject to domestic taxes.
NOTE: Historical information. In 2025 the situation is very different.
Joaquim Silvério dos Reis Montenegro Leiria Grutes (1756–1819) was a conspirator who betrayed the Inconfidência Mineira in exchange for having his taxes waived. He was the husband of Bernardina Quitéria de Oliveira Belo, who was a cousin of Francisco Antônio de Oliveira Lopes and aunt of Duque de Caxias and Conde de Tocantins.
Taxes in Portugal are levied by both the national and regional governments of Portugal. Tax revenue in Portugal stood at 34.9% of GDP in 2018. The most important revenue sources include the income tax, social security contributions, corporate tax and the value added tax, which are all applied at the national level.
In Slovakia, taxes are levied by the state and local governments. Tax revenue stood at 19.3% of the country's gross domestic product in 2021. The tax-to-GDP ratio in Slovakia deviates from OECD average of 34.0% by 0.8 percent and in 2022 was 34.8% which ranks Slovakia 19th in the tax-to-GDP ratio comparison among the OECD countries. The most important revenue sources for the state government are income tax, social security, value-added tax and corporate tax.
The tax system of the Czech Republic is similar in its main features to the systems of developed and especially European countries.
A value-added tax is a consumption tax that is levied on the value added at each stage of a product's production and distribution. VAT is similar to, and is often compared with, a sales tax. VAT is an indirect tax, because the consumer who ultimately bears the burden of the tax is not the entity that pays it. Specific goods and services are typically exempted in various jurisdictions.
The organization responsible for tax policy in Ukraine is the State Fiscal Service, operating under the Ministry of Finance of Ukraine. Taxation is legally regulated by the Taxation Code of Ukraine. The calendar year serves as a fiscal year in Ukraine. The most important sources of tax revenue in Ukraine are unified social security contributions, value added tax, individual income tax. In 2017 taxes collected formed 23% of GDP at ₴969.654 billion.
Taxation is an important part in the Turkish economy. Turkey has a 41.65% tax to GDP ratio. Most of the taxes are levied by central government. However some specific taxes are levied by municipalities, with the amount determined by centrally issued legislation. Municipalities have no authority to make their own tax laws.
Under Ministerial Order n. 150/2004 of 13 February, issued by the Portuguese Ministry of Finance and consequently updated, Portugal defines an official blacklist of countries and jurisdictions considered for legal and tax purposes as tax havens.
References
- ↑ "VAT 23%". Economias (in Portuguese). Retrieved 2018-12-19.
- ↑ "Respostas às perguntas mais frequentes sobre o IVA". www.nvalores.pt. Archived from the original on 2018-12-19. Retrieved 2018-12-19.
- ↑ "Imposto de selo". Economias (in Portuguese). Archived from the original on 2018-12-19. Retrieved 2018-12-19.
- 1 2 3 4 5 "The main taxes in Portugal". Economias (in Portuguese). Retrieved 2018-12-19.
- 1 2 3 4 "Doubts about taxes in Portugal". www.nvalores.pt. Retrieved 2018-12-19.
- 1 2 "Stamp duty". www.nvalores.pt. Retrieved 2018-12-19.
- ↑ "IMI". Economias (in Portuguese). Retrieved 2018-12-19.
- 1 2 "Taxes in Portugal". www.portugalproperty.com. Retrieved 2018-12-19.
- ↑ "5 Perguntas essenciais sobre o Adicional ao IMI". Economias (in Portuguese). Retrieved 2018-12-19.
- 1 2 "Dúvidas: Imposto municipal sobre as transmissões onerosas de imóveis". www.nvalores.pt. Retrieved 2018-12-19.
- ↑ "Portugal – Taxes on personal income". taxsummaries.pwc.com. Retrieved 2018-12-19.
- ↑ "Income tax". Your Europe – Citizens. Retrieved 2018-12-19.
- ↑ "Taxas de IRS 2018". Economias (in Portuguese). Retrieved 2018-12-19.
- ↑ "Portugal Gross Net Salary Calculator". Relocate.me. Retrieved 2024-11-30.
- ↑ "Dúvidas sobre o IRC". www.nvalores.pt. Retrieved 2018-12-19.
- 1 2 "Qual é a taxa de IRC em 2017?". Economias (in Portuguese). Retrieved 2018-12-19.
- ↑ "Portugal – Taxes on corporate income". taxsummaries.pwc.com. Retrieved 2018-12-19.
- ↑ "Investor's Guide – Fiscal System – Main Taxes in Portugal". www.portugalglobal.pt. Retrieved 2018-12-20.
- ↑ "Dúvidas sobre Derrama". www.nvalores.pt. Retrieved 2018-12-19.
- ↑ "Derrama". Economias (in Portuguese). Retrieved 2018-12-19.
- ↑ "Dúvidas sobre IABA". www.nvalores.pt. Retrieved 2018-12-19.
- ↑ "Imposto IABA em 2016". Economias (in Portuguese). Retrieved 2018-12-19.
- ↑ "ISP Imposto Sobre Produtos Petrolíferos". Economias (in Portuguese). Retrieved 2018-12-19.
- ↑ "Dúvidas sobre ISP". www.nvalores.pt. Retrieved 2018-12-19.
- ↑ "Imposto sobre o tabaco em Portugal". Economias (in Portuguese). Retrieved 2018-12-19.
- ↑ "Dúvidas sobre imposto sobre o tabaco". www.nvalores.pt. Retrieved 2018-12-19.
- ↑ "Simulador de Imposto Sobre Veículos - ISV 2018". Economias (in Portuguese). Retrieved 2018-12-20.
- ↑ "Respostas às principais dúvidas sobre ISV". www.nvalores.pt. Retrieved 2018-12-20.
- ↑ "Duvidas sobre o IUC". www.nvalores.pt. Retrieved 2018-12-20.
- ↑ "Tabela do Imposto Único de Circulação". Economias (in Portuguese). Retrieved 2018-12-20.