Surtaxed: meaning, definitions and examples
💰
surtaxed
[ ˈsɜrtˌtækt ]
financial context
Surtaxed refers to a situation where an individual or entity is subject to an additional tax on income or sales that has already been taxed. This typically occurs when a government implements a surtax as a temporary measure to increase revenue during fiscal crises. Such taxes can apply to specific income brackets, luxury goods, or excessive profits, creating a burden on taxpayers who fall within the affected categories. Understanding the implications of being surtaxed is critical for individuals engaging in financial planning and tax preparation.
Synonyms
Examples of usage
- The wealthy are often surtaxed on their additional earnings.
- After the surtax was implemented, many businesses adjusted their budgets.
- Taxpayers were surprised to learn about the new surtaxed rates.
- Governments sometimes introduce surtaxes to fund public projects.
- Even essential goods can become surtaxed under new legislation.
Translations
Translations of the word "surtaxed" in other languages:
🇵🇹 sobrecarregado de impostos
🇮🇳 अधिक कर लगाया गया
🇩🇪 überbesteuert
🇮🇩 kena pajak berlebih
🇺🇦 перекладений податком
🇵🇱 obciążony podatkiem
🇯🇵 過剰課税された
🇫🇷 surtaxé
🇪🇸 sobretasado
🇹🇷 fazla vergilendirilmiş
🇰🇷 과세가 과도한
🇸🇦 مكلف بالضرائب الزائدة
🇨🇿 přetížený daní
🇸🇰 preťažený daňou
🇨🇳 超额征税的
🇸🇮 obdavčen
🇮🇸 ofurskatt
🇰🇿 салық салынған
🇬🇪 გადამეტებული გადასახადით
🇦🇿 artırılmış vergi ilə
🇲🇽 sobretasado
Etymology
The term 'surtax' combines the prefix 'sur-', which originates from Latin meaning 'over' or 'above', with the word 'tax', derived from the Latin 'taxare', meaning 'to assess'. Historically, surtaxes have been applied as auxiliary taxes on top of existing tax structures to raise additional revenue for government expenditures. The use of surtaxes can be traced back to various fiscal policies throughout history, particularly during times of war or economic hardship when governments needed additional funds rapidly. Over time, the concept has evolved and varies considerably by country, reflecting local economic situations and tax policy philosophies. Surtaxes are sometimes controversial, as they can disproportionately affect higher-income individuals or specific sectors of the economy, leading to debates about fairness and economic efficiency.