THE TAXATION SYSTEM
—i 4 GRADUATED INCOME TAX ADVOCATED. By Telegraph.—Press Association. . Auckland, .Tune 8. The Chamber of Commerce Council to.' day adopted the following report by a sub-conimittco on the question of taxation:— • (1) Having regard to the progressively heavy financiul commitments of the Do. minion, this sub-committeo is strongly of. opinion that tho time has arrived for devising an equitable and elastic system of taxation, based upon the adjustment ; of the load, to tho relative ability of ; each, taxpayer to bear it. (2) That tho present excess profit tax is anomalous in its incidence and 100 limited in its scope. (3 That the graduated income tax is the simplest, fairest, and most elastic form of taxation that can be devised, and is capable of yielding tho largest amount of revenue with a minimum of friction. The chamber suggested that a provieion similar to that in tho British tax should-be included, namely, that if profits after tho war fall below tho standard, allowance should bo made.
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Dominion, Volume 10, Issue 3106, 9 June 1917, Page 8
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167THE TAXATION SYSTEM Dominion, Volume 10, Issue 3106, 9 June 1917, Page 8
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