The windfall tax
Article Abstract:
The British Labour Party moved for the implementation of a windfall tax policy in 1997 in an attempt to regain excessive gains acquired by private utility companies as a result of underrated share purchases. The implementation of the said tax was aimed in taxing the windfall gains obtained by privatised utility firms. The gains resulted from selling these firms at a relatively low price and the fact that they are subjected to a less strict regulation after privatisation. The tax should not have a very significant effect on the prices and investments of the utility firms since it is only based on previous profits.
Publication Name: Fiscal Studies
Subject: Business, general
ISSN: 0143-5671
Year: 1997
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Company dividends and taxes in the UK
Article Abstract:
A study on the impact of surplus advance corporation tax (ACT) on company dividends revealed that the higher tax cost of paying dividends to investors for firms with surplus ACT reduces their dividend payments. Annual company accounts data from 1,218 quoted UK industrial and commercial firms were used. It was investigated whether firms moving into a surplus ACT position would increase their dividends by less than might otherwise have been done or whether those moving out of surplus ACT would increase their dividends by more than might otherwise have been done.
Publication Name: Fiscal Studies
Subject: Business, general
ISSN: 0143-5671
Year: 1995
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Tax law improvement in Australia and the UK: the need for a strategy for simplification
Article Abstract:
Strategy adoption played a vital role towards simplification of tax laws in Australia and the United Kingdom. A strategy, such as the Australian Tax Law Improvement Project, directed towards simplification of a tax law entails consideration of pressure factors that tend to make modern tax systems more complex. Utilization of purposive legislation, drafting law containing general principles, and creation of an assessment approach also help towards creation of a sustainable tax law improvement.
Publication Name: Fiscal Studies
Subject: Business, general
ISSN: 0143-5671
Year: 1997
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