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  5. Classical Tax System

Classical Tax System

Definition of 'Classical Tax System'

A Classical Tax System initially takes company profits, and then also taxes any dividend income. This double taxation of dividends thus provides an incentive to retain profits.

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Related Terms

Tax ClaimAccelerated DepreciationAdvance Corporation TaxDouble Tax AgreementsTax AvoidanceTax ShieldFiscal DragSpecific TaxStock Exchange Electronic Trading SystemClassical UnemploymentAd Valorem TaxCapital Gains TaxImputation SystemsIncidence of TaxModigliani & Millers (MM) Capital Structure TheoriesTax BreaksUnrelated Business Taxable IncomeMatched Bargain Trading SystemSETSACT

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