also called net worth tax
An annual tax on the total value of a person's assets rather than on their income.
A tax charged each year on the total value of what you own, your property, savings and investments, rather than on what you earn. A country with low income tax can still take a meaningful bite this way. Inheritance tax is different: it lands once, on what passes to your heirs after you die, not every year while you are alive.
Someone moves to a country for its low income-tax rate, then discovers it also levies an annual tax on their worldwide assets. Their modest salary is barely touched, but the tax on everything they own elsewhere quietly outweighs what they saved on income.
Some countries levy it on residents' worldwide assets, which can outweigh a low income-tax rate.
The difference is the whole point, so here is each one in a line.
These tax what you own rather than what you earn.
Capital gains tax hits the profit when you sell an asset, a wealth tax is an annual charge on the total value of your assets, and inheritance tax falls on an estate when someone dies.
An exit tax is charged by some countries when you stop being resident or renounce citizenship, often treating your assets as if sold on the way out.
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