CAPITAL LEVY


Meaning of CAPITAL LEVY in English

Direct tax assessed simultaneously on the capital resources of all persons possessing taxable wealth in excess of a minimum value and paid at least partly out of capital resources.

It aims at capturing a substantial portion of the taxpayers' wealth to enable the government to cope with a major emergency or to redistribute wealth. Capital levies were adopted in many European nations after World Wars I and II.

Britannica English dictionary.      Английский словарь Британика.