flat tax

Definitions

A tax, usually income tax, whose percentage rate or currency value remains constant, regardless of the amount to which the tax is applied.

Equivalents

Examples

“Several candidates for the 1996 Republican Presidential nomination and some of the top Republican leaders in Congress are advocating replacing the graduated income tax with a flat tax.”

“Eyman's measure⟳ also would repeal the state tax on boats, 1 percent of the vessel's value, and replace⟳ it with a flat tax of $10.50 a year.”

“A flat tax means scrapping all income tax bands and the various exemptions and loopholes and replacing them with a single low rate.”

CEFR level