Net income tax flat rate
This type of data, if we had a flat tax, is what you would pay each year, and related information. That fast and that simple. By definition, percentage is a fraction or ratio expressed as part of 100. To determine the paid tax percentage, divide the flat tax amount paid by the gross income amount. The flat tax could boost saving by raising the after-tax return on saving and by shifting income toward high-saving households. Estimates suggest shifting from a pure income tax to a pure flat tax