Abstract
One of the oldest forms of taxation, wealth taxes may take the form of annual taxes based on property or net worth, or assessments collected at less regular intervals, on estates or inheritances or in the form of emergency capital levies. Wealth taxes are still prominent but have become less important than income taxes as a source of revenue. Although wealth taxes are related in structure to taxes on capital income, their economic effects depend on their form. In addition to explicit taxes on wealth, governments impose implicit capital levies through changes in tax policy.
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Auerbach, A.J. (2018). Taxation of Wealth. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1276
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DOI: https://doi.org/10.1057/978-1-349-95189-5_1276
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