Intax Insider
07.04.2020

TOUGH GUYS OF TAX JUSTICE AGAINST COVID-19

Tax Justice experts believe that government support for business in times of crisis should be more balanced and should not become a source of unjustified enrichment for some companies and their owners. The crisis period can become a good reason for the introduction of more “fair” tax and financial rules.

 In particular, during the crisis, activists are offered the following measures:

  1. Implement a huge (50-75%) excess-profits tax
  2. Tax wealth: hefty wealth taxes, land value taxes, capital gains taxes, etc.
  3. Nationalize failing firms: buy forms or their stock cheaply now, take control, clean house, and when market conditions normalize, sell them back, at a market price
  4. Ban stock buybacks to prevent from market manipulations. Also temporarily curb or ban dividends.
  5. Ban all new mergers.
  6. Other measures, including restrictions regarding capital controls, prices controls, beefed-up criminal sanctions, revision of the concept of limited liability and so on.

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