Most big mergers in America involve swapping shares, but this attracts punitive tax treatment in Japan.
Punishing small-business owners with punitive tax legislation such as this will only increase the unemployment rate and extend the recession.
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The tax rate on investment income from corporations would rise to 54.5% from 44.75%, a punitive tax on start-up or expanding businesses.
Second, the proposal to use punitive tax policy to cover the mistake will actually have major unintended consequences when broadly applied.
In December the government slapped a punitive tax increase of 30 percentage points on imports of cars whose makers lack a factory in Mercosur or Mexico.
As a material producer of gas -- and supplier to southern Europe -- Algeria has enjoyed interest from companies including BP, Statoil and Repsol, despite an increasingly punitive tax environment.
This is unfortunate because the United States has one of the most punitive corporate tax systems in the developed world.
If politicians in, say, Arizona are worried that consumers will go online or travel across the border to avoid the punitive sales tax, then they should reduce their sales tax rate.
Supposing that actual and projected public spending justified higher taxation, Mr Parry's analysis strongly suggests that the country would have been better off paying for it through income taxes than through a punitive petrol tax.
States with no payroll income taxes, such as Nevada, Florida, Tennessee, Texas and New Hampshire, help restrain the greed of politicians in states that have punitive income tax systems, such as California, Illinois, New York and Massachusetts.
Mr Lawson cut punitive income-tax rates but is now best remembered for the boom that turned into slump in the early 1990s.
People generally don't build up assets to leave them to the IRS. Certainly Warren Buffett doesn't, though he favors a punitive death-tax rate.
The number of taxpayers has also increased, partly because loopholes have been plugged and partly because rates have become less punitive, making tax evasion less attractive.
And even when governments raise the money, they should first get rid of deductions and reverse unmeritocratic measures (such as George Bush's repeal of America's death tax) rather than jacking up income-tax rates to punitive levels.
Like other U.S. companies, Apple pays an extreme tax penalty for bringing its foreign profits home to invest in the U.S. This is due both to the punitive U.S. tax rate and the fact that the U.S. is virtually alone in refusing to embrace a territorial tax system that applies corporate income taxes only in the jurisdiction where the money is earned.
Kurth Ranch , is that it can't be punishment, punitive in the guise of a tax.
When the personal income tax on dividends becomes punitive, however, companies are reluctant to hand the money out to the owners.
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In other words, this is one of those rare cases where a tax increase is so punitive that the government winds up losing money.
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The only way around this simple fact is to discard any notion of non-discriminatory taxation and equal treatment under the law and design the tax code as a punitive instrument to redistribute income.
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Personal physical injury and physical sickness recoveries are tax-free, but punitive damages and interest are taxable.
Japan's tax reductions should encompass not only personal income and corporate profits but also the punitive capital gains levies on real estate, as well as the national sales tax.
Punitive rates of taxation end up punishing the tax collector.
Third, a carbon tax is bound to become more punitive over time, stifling growth and job creation, and not only because green groups would continually lobby to increase the tax.
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For example, the government can avoid punitive levels of taxation that reduce the potential after-tax reward accruing to the investor.
Something more punitive is likely as well, for instance a windfall profits tax on oil, and maybe other industries.
Still, he is in the odd position of claiming to be an instinctive tax-cutter, while running one of the most punitive regimes for high earners in Europe.
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Those buying expensive houses via tax-efficient shell companies, for example, will face punitive rates.
The Brazilian government raised an industrial production tax (IPI) on all imported vehicles from an already punitive 25 percent to a whopping 55 percent.
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