Define: Wealth Tax

UK Accounting Glossary

Definition: Wealth Tax

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What is the dictionary definition of Wealth Tax?

Dictionary Definition

Wealth Tax is a tax used in a number of European countries, excluding the UK, that consists of an annual levy on assets.

In practice, the implementation of a wealth tax necessitates clear identification as to the assets to be charged alongside an unassailable valuation as to the aforementioned assets.

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