Luxury Tax and Wealth Tax – Between Transparency and Sustainability of the Tax System

Abstract

Due to the large sums spent following the severe and large-scale lockdown in 2020, when most countries had to step up spending on health and social protection, introducing numerous incentive measures, while tax revenues declined sharply, which led to the increase of budget deficits and public debt, governments had to identify new sources of income and potential liquid assets flows in order to pay this debt. The idea of increasing the taxable base on the basis of wealth taxation is one of the most important debate topics on the European Union agenda but also on the Romanian Parliament and Government agenda, as well as within the theoretical approaches and debates of specialists in the field.

Keywords

• luxury tax
• wealth tax
• solidarity tax
• taxable base
• tax burden