Taxes. (24th December 2020)

• Record Type: Journal Article
• Authors: Fama, Eugene F.
• Is Part Of: European financial management. Volume 27:Number 1(2021)
• Page Start: 3
• Page End: 11
• Publication Date: 2020-12-24
• Subjects: H2 -- business tax -- nonprofits -- value added tax -- wealth tax; Finance -- European Union countries -- Periodicals; International finance -- Periodicals; Corporations -- European Union countries -- Finance -- Periodicals; 332.094
• DOI: 10.1111/eufm.12300
• Languages: English
• ISSNs: 1354-7798

Abstract

Abstract: This is a compendium of notes on taxes. Section 2 presents a general tax scheme. It is a tax on value added by labour and capital that does not favour one or the other. Section 3 contrasts taxation of business income for pass‐through entities and corporations. Section 4 discusses property taxes as taxes on housing services and so a form of income tax. Section 5 turns to wealth taxes. The closing Section 6 attempts to explain why people donate to nonprofits but minimise tax payments to governments, even though governments and nonprofits engage in many of the same activities.