Monday, March 1, 2010

Flat Taxes in Action

As the Brown experiment in complicating taxes and stifling enterprise continues in the UK, other countries are going in a different direction.

In 2005, the country of Georgia enacted a new Tax Code that introduced lower, flat tax rates. The total number of taxes was reduced from 22 to only 7. The number of taxes was further reduced in 2008, when new changes to the Tax Code of Georgia took effect that abolished the 20% social tax paid by businesses. The rate of personal income tax was raised instead, from 12% to a flat 25% rate.

No comments:

Post a Comment