Tags: Flat | Tax's | Success | Eastern | Europe | Impressing | Western

Flat Tax's Success in Eastern Europe Impressing Western Neighbors

Friday, 23 September 2005 12:00 AM

The success of the flat tax in former communist states of Eastern Europe is spurring their Western European neighbors to take a closer look at the idea.

With a flat tax system – analyzed in detail in the June edition of NewsMax Magazine – personal income is taxed at one set rate regardless of income level.

Proponents say it is simpler, more efficient and fairer than the complicated tax structure now in place in Western Europe and the U.S. The economies of those countries that have adopted the flat tax "are growing at a far healthier clip than those of their neighbors to the west," Business Week reports.

"So it's no surprise that calls for a flat tax are now being heard in Western Europe."

In Britain, the opposition Conservative Party plans to set up a commission to study a flat tax, which tops out at a rate of 23 percent in Estonia but is just 13 percent in Russia and Ukraine.

No one expects a Western European government to adopt a single tax rate anytime soon. But tax simplification is "clearly in the air," according to Business Week.

"A flat tax or streamlined tax code could go a long way toward restoring public trust in the tax system," reports Business Week, "by ending loopholes and cutting mounds of red tape."

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The success of the flat tax in former communist states of Eastern Europe is spurring their Western European neighbors to take a closer look at the idea. With a flat tax system - analyzed in detail in the June edition of NewsMax Magazine - personal income is taxed at one...
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2005-00-23
Friday, 23 September 2005 12:00 AM
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