Definition
Wealth tax is a tax imposed on the net wealth or assets owned by individuals or households above a certain threshold. Wealth tax rates may vary depending on the total value of assets, such as real estate, investments, and savings accounts. Wealth tax aims to redistribute wealth, reduce economic inequality, and fund public services and social programs.
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Private Limited Company (Ltd)
A Private Limited Company (Ltd) is a type of company where the ownership is divided into shares held by a small number of shareholders. The liability of shareholders is limited to the amount unpaid on their shares, and the company’s shares cannot be traded publicly on the stock exchange.
Limited Liability Partnership (LLP)
A Limited Liability Partnership (LLP) is a business structure where partners have limited personal liability for the debts and obligations of the partnership. Each partner’s liability is limited to their investment in the LLP, and they are protected from the actions of other partners.