The whole country is talking about GST (Goods and Services Tax). Let’s explore some interesting taxes around the world.
1 It is a tiny tax on the financial sector that could generate billions to fight poverty and climate change. It is also known as a Financial Transactions Tax (FTT). The banks, hedge funds and the rest of the sector should pay their fair share to clear up the mess they create. What is its popular name?
2 Pecunia non olet meaning, “money does not stink” was a famous phrase coined as a result of this tax levied by the Roman emperors Nero and Vespasian on this. They used it as a cleaning agent for washing their clothes, brushing their teeth as well as for tanning leather. What was taxed?
3 Skatteverket is the tax agency that oversees baby names. This tax protects children from confusing names and prevents people from naming children after the royal family. The name Q was rejected as it resembled James Bond character that creates things like detonator and bullet deflector. Identify the country.
4 This country imposed a ‘Whiskey Tax’ which is based on the percentage of alcohol by volume, so their whiskey manufacturers diluted their product with water to avoid the tax. The Mizuwari is a local product with similar make. It slows down the intoxication process. Identify the country.
5 England introduced a tax on them in 1789. Making your own stuff was outlawed unless you first obtained a licence and paid tax on your own homemade make. Some say that Oliver Cromwell once scolded his wife for sewing under its influence. What are we talking about?
Answers:
1.Robin Hood Tax (Tax the rich and give money to the poor)
2. The Urine Tax (It was placed on the collection of urine at public urinals)
3. Sweden
4. Japan
5. Candles
READERS QUESTION
Q. This is a British Overseas Territory in the western Caribbean Sea. It is the most notorious tax haven on earth. There are twice as many companies as people. The main work on this island is financial services. No one, rich or poor, pays income or corporation tax. Identify the place.
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