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111-412: In the early 19th century, due to the heavy taxes on spirit production imposed by the government, many whisky producers were forced to operate illegally. The area around Glengoyne was full of hills and forests which provided excellent cover for the distillers. Records show that at least eighteen illicit whisky stills were operating in the area. In the 1820s an Act of Parliament was passed, which reduced

222-502: A Lowland single malt as opposed to a Highland single malt. At its current operating capacity Glengoyne produces over one million litres of pure spirit (new make spirit) every year which is used in a number of different whiskies. The distillery has won various awards for its products including a double gold awarded to the 17-year-old Single Malt at the San Francisco World Spirits Competition and

333-431: A flat percentage rate of taxation on personal annual income, but most scale taxes are progressive based on brackets of yearly income amounts. Most countries charge a tax on an individual's income and corporate income . Countries or sub-units often also impose wealth taxes , inheritance taxes , gift taxes , property taxes , sales taxes , use taxes , environmental taxes , payroll taxes , duties , or tariffs . It

444-433: A pay-as-you-earn basis, with corrections made after the end of the tax year . These corrections take one of two forms: Income-tax systems often make deductions available that reduce the total tax liability by reducing total taxable income. They may allow losses from one type of income to count against another – for example, a loss on the stock market may be deducted against taxes paid on wages. Other tax systems may isolate

555-573: A balance between land-based tourists and loch users, with environmentally sensitive areas subject to a strictly enforced 11 km/h (5.9 kn; 6.8 mph) speed limit, but the rest of the loch open to speeds of up to 90 km/h (49 kn; 56 mph). The Maid of the Loch was the last paddle steamer built in Britain. Built on the Clyde in 1953, she operated on Loch Lomond for 29 years. She

666-426: A certain area ( social engineering ). For example, a high excise is used to discourage alcohol consumption, relative to other goods. This may be combined with hypothecation if the proceeds are then used to pay for the costs of treating illness caused by alcohol use disorder . Similar taxes may exist on tobacco , pornography , marijuana etc., and they may be collectively referred to as " sin taxes ". A carbon tax

777-446: A commodity is sold to its final consumer. Retail organizations contend that such taxes discourage retail sales. The question of whether they are generally progressive or regressive is a subject of much current debate. People with higher incomes spend a lower proportion of them, so a flat-rate sales tax will tend to be regressive. It is therefore common to exempt food, utilities, and other necessities from sales taxes, since poor people spend

888-600: A current distilling capacity of over one million litres of alcohol and over 35,000 visitors per annum. Glengoyne and Bruichladdich, is one of only two distilleries remaining today that uses Golden Promise barley, which is low in yield but high in quality. The distillery's water supply comes from the Glengoyne Burn which flows from the nearby Dumgoyne hill into the distillery grounds before continuing on to Loch Lomond . Unlike many malt whiskies, Glengoyne does not use peat smoke to dry their barley but instead favours

999-469: A definition and system of classification of internal taxes, generally followed below. In addition, many countries impose taxes ( tariffs ) on the import of goods. Many jurisdictions tax the income of individuals and of business entities , including corporations . Generally, the authorities impose a tax on net profits from a business , on net gains, and on other income. Computation of income subject to tax may be determined under accounting principles used in

1110-433: A further 11 km away, however beyond this point no road continues along the eastern shore, although there is road access to Inversnaid via another minor road that comes in from Loch Katrine to the east via the northern shore of Loch Arklet . As Loch Arklet is over 100 m above Loch Lomond and less than 2 km to the east this road must descend steeply to reach Inversnaid. The West Highland railway line joins

1221-581: A gold for the 15-year-old Scottish oak wood finish for "best wood finish" by the Stockholm Beer and Whisky Festival. Glengoyne 17-year-old was voted "World's Best Single Highland Malt" in the "Best of the Best" whisky tasting , organised by Whisky Magazine . Due to the rapid growth recently of the Scotch malt whisky industry (recent figures indicate a 9% growth in 2002) and of the premium whisky market as

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1332-406: A higher proportion of their incomes on these commodities, so such exemptions make the tax more progressive. This is the classic "You pay for what you spend" tax, as only those who spend money on non-exempt (i.e. luxury) items pay the tax. A small number of U.S. states rely entirely on sales taxes for state revenue, as those states do not levy a state income tax. Such states tend to have a moderate to

1443-641: A higher tax rate. Historically, in many countries, a contract needs to have a stamp affixed to make it valid. The charge for the stamp is either a fixed amount or a percentage of the value of the transaction. In most countries, the stamp has been abolished but stamp duty remains. Stamp duty is levied in the UK on the purchase of shares and securities, the issue of bearer instruments, and certain partnership transactions. Its modern derivatives, stamp duty reserve tax and stamp duty land tax , are respectively charged on transactions involving securities and land. Stamp duty has

1554-497: A large amount of tourism or inter-state travel that occurs within their borders, allowing the state to benefit from taxes from people the state would otherwise not tax. In this way, the state is able to reduce the tax burden on its citizens. The U.S. states that do not levy a state income tax are Alaska, Tennessee, Florida, Nevada, South Dakota, Texas, Washington state, and Wyoming. Additionally, New Hampshire and Tennessee levy state income taxes only on dividends and interest income. Of

1665-488: A local historian writing that the smoke of "illicit stills" was visible in the area in the early 19th century. The distillery began distilling in 1833 and was known as the Burnfoot distillery . It was originally owned by George Connell who built the distillery and took out a lease on the surrounding land, on which was built a warehouse which is still in use today. In 1876 the distillery was sold, by Archiball G. MacLellen, to

1776-535: A negative impact that could not be mitigated. One of the loch's islands, Inchconnachan , is home to a colony of red-necked wallabies . As well as forming part of the Loch Lomond and the Trossachs National Park , Loch Lomond holds multiple other conservation designations . 428  ha of land in the southeast, including five of the islands, is designated as national nature reserve :

1887-473: A new viaduct bringing the carriageway width to modern standards. The A811 runs to the south of Loch Lomond between Balloch and Drymen , following the route of another military road at a distance of between 2 and 3 kilometres from the loch. From Drymen the B837 extends north, meeting the eastern shore of the loch at Balmaha where the road terminates. A minor road extends north as far as Rowardennan ,

1998-553: A particular amount. Such upper or lower limits may apply for retirement but not for health-care components of the tax. Some have argued that such taxes on wages are a form of "forced savings" and not really a tax, while others point to redistribution through such systems between generations (from newer cohorts to older cohorts) and across income levels (from higher income levels to lower income-levels) which suggests that such programs are really taxed and spending programs. Unemployment and similar taxes are often imposed on employers based on

2109-625: A result of market forces . Certain countries (usually small in size or population, which results in a smaller infrastructure and social expenditure) function as tax havens by imposing minimal taxes on the personal income of individuals and corporate income. These tax havens attract capital from abroad (particularly from larger economies) while resulting in loss of tax revenues within other non-haven countries (through base erosion and profit shifting ). Legal and economic definitions of taxes differ, such that many transfers to governments are not considered taxes by economists. For example, some transfers to

2220-524: A single-rate form of taxation regardless of ability to pay (the Community Charge , but more popularly referred to as the Poll Tax), led to widespread refusal to pay and to incidents of civil unrest, known colloquially as the ' Poll Tax Riots '. Some types of taxes have been proposed but not actually adopted in any major jurisdiction. These include: An ad valorem tax is one where the tax base

2331-437: A tax on net worth (assets minus liabilities), as a percentage of the net worth, or a percentage of the net worth exceeding a certain level. The tax may be levied on " natural " or " legal persons. " A value-added tax (VAT), also known as Goods and Services Tax (GST), Single Business Tax, or Turnover Tax in some countries, applies the equivalent of a sales tax to every operation that creates value. To give an example, sheet steel

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2442-649: A whole, Glengoyne is mainly marketed in the UK, Scandinavian, French, German and USA markets. Coordinates: 56°00′51″N 4°21′50″W  /  56.01403°N 4.36378°W  / 56.01403; -4.36378  ( Glengoyne Distillery ) Tax A tax is a mandatory financial charge or levy imposed on a taxpayer (an individual or legal entity ) by a governmental organization to support government spending and public expenditures collectively or to regulate and reduce negative externalities . Tax compliance refers to policy actions and individual behavior aimed at ensuring that taxpayers are paying

2553-493: Is a per unit tax, where the tax base is the quantity of something, regardless of its price. An excise tax is an example. Consumption tax refers to any tax on non-investment spending and can be implemented by means of a sales tax, consumer value-added tax, or by modifying an income tax to allow for unlimited deductions for investment or savings. This includes natural resources consumption tax , greenhouse gas tax (i.e. carbon tax ), "sulfuric tax", and others. The stated purpose

2664-419: Is a right of responsible access to the loch and its shoreline for those wishing to participate in recreational pursuits such as walking , camping , swimming and canoeing . In 2017 the national park authority introduced byelaws restricting the right to camp along much of the shoreline of Loch Lomond, due to issues such as litter and anti-social behaviour that were blamed on irresponsible campers. Camping

2775-430: Is a distinction between an estate tax and an inheritance tax: the former taxes the personal representatives of the deceased, while the latter taxes the beneficiaries of the estate. However, this distinction does not apply in other jurisdictions; for example, if using this terminology UK inheritance tax would be an estate tax. An expatriation tax is a tax on individuals who renounce their citizenship or residence. The tax

2886-601: Is a full VAT. The province of Quebec collects the Quebec Sales Tax [QST] which is based on the GST with certain differences. Most businesses can claim back the GST, HST, and QST they pay, and so effectively it is the final consumer who pays the tax. An excise duty is an indirect tax imposed upon goods during the process of their manufacture, production or distribution, and is usually proportionate to their quantity or value. Excise duties were first introduced into England in

2997-442: Is a general tax levied periodically on residents who own personal property (personalty) within the jurisdiction. Vehicle and boat registration fees are subsets of this kind of tax. The tax is often designed with blanket coverage and large exceptions for things like food and clothing. Household goods are often exempt when kept or used within the household. Any otherwise non-exempt object can lose its exemption if regularly kept outside

3108-596: Is a tax on the consumption of carbon-based non-renewable fuels, such as petrol, diesel-fuel, jet fuels, and natural gas. The object is to reduce the release of carbon into the atmosphere. In the United Kingdom, vehicle excise duty is an annual tax on vehicle ownership. An import or export tariff (also called customs duty or impost) is a charge for the movement of goods through a political border. Tariffs discourage trade , and they may be used by governments to protect domestic industries. A proportion of tariff revenues

3219-426: Is also possible to levy a tax on tax, as with a gross receipts tax . In economic terms ( circular flow of income ), taxation transfers wealth from households or businesses to the government. This affects economic growth and welfare , which can be increased (known as fiscal multiplier ) or decreased (known as excess burden of taxation ). Consequently, taxation is a highly debated topic by some, as although taxation

3330-440: Is an ad valorem tax levy on the value of a property that the owner of the property is required to pay to a government in which the property is situated. Multiple jurisdictions may tax the same property. There are three general varieties of property: land, improvements to land (immovable human-made things, e.g. buildings), and personal property (movable things). Real estate or realty is the combination of land and improvements to

3441-484: Is considered the most viable option to operate the government (instead of widespread state ownership of the means of production ), as taxation enables the government to generate revenue without heavily interfering with the market and private businesses; taxation preserves the efficiency and productivity of the private sector by allowing individuals and companies to make their own economic decisions, engage in flexible production , competition , and innovation as

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3552-433: Is deemed necessary by consensus for society to function and grow in an orderly and equitable manner through the government provision of public goods and public services , others such as libertarians and anarcho-capitalists are anti-taxation and denounce taxation broadly or in its entirety, classifying taxation as theft or extortion through coercion along with the use of force . Within market economies, taxation

3663-464: Is economically justified, as it will not deter production, distort market mechanisms or otherwise create deadweight losses the way other taxes do. When real estate is held by a higher government unit or some other entity not subject to taxation by the local government, the taxing authority may receive a payment in lieu of taxes to compensate it for some or all of the foregone tax revenues. In many jurisdictions (including many American states), there

3774-495: Is generally a gain on sale of capital assets—that is, those assets not held for sale in the ordinary course of business. Capital assets include personal assets in many jurisdictions. Some jurisdictions provide preferential rates of tax or only partial taxation for capital gains. Some jurisdictions impose different rates or levels of capital-gains taxation based on the length of time the asset was held. Because tax rates are often much lower for capital gains than for ordinary income, there

3885-468: Is imported by a machine manufacturer. That manufacturer will pay the VAT on the purchase price, remitting that amount to the government. The manufacturer will then transform the steel into a machine, selling the machine for a higher price to a wholesale distributor. The manufacturer will collect the VAT on the higher price but will remit to the government only the excess related to the "value-added" (the price over

3996-541: Is named FairTax . In Canada, the federal sales tax is called the Goods and Services Tax (GST) and now stands at 5%. The provinces of British Columbia, Saskatchewan, Manitoba, and Prince Edward Island also have a provincial sales tax [PST]. The provinces of Nova Scotia, New Brunswick, Newfoundland & Labrador, and Ontario have harmonized their provincial sales taxes with the GST—Harmonized Sales Tax [HST], and thus

4107-502: Is now being restored at Balloch pier by the Loch Lomond Steamship Company, a charitable organisation, supported by West Dunbartonshire Council. Cruises also operate from Balloch, Tarbet, Inversnaid, Luss and Rowardennan. Loch Lomond Rescue Boat provides 24-hour safety cover on the loch. The rescue boat is a volunteer organisation and a registered charity. The national park authority also have other boats on

4218-520: Is now bypassed to the west of the village along a single carriageway bypass constructed between 1990 and 1992. At Tarbet , the A83 branches west to Campbeltown while the A82 continues to the north end of the loch. This part of the road is currently of a lower standard than the sections further south. It is sandwiched between the shoreline of the loch and the mountains to the west, and it runs generally alongside

4329-479: Is now restricted to designated areas, and campers are required to purchase a permit to camp within these areas between March and October. The byelaws were opposed by groups such as Mountaineering Scotland and Ramblers Scotland , who argued that they would criminalise camping even where it was carried out responsibly, and that the national park authority already had sufficient powers to address irresponsible behaviour using existing laws. The main arterial route along

4440-528: Is often hypothecated to pay the government to maintain a navy or border police. The classic ways of cheating a tariff are smuggling or declaring a false value of goods. Tax, tariff and trade rules in modern times are usually set together because of their common impact on industrial policy , investment policy , and agricultural policy . A trade bloc is a group of allied countries agreeing to minimize or eliminate tariffs against trade with each other, and possibly to impose protective tariffs on imports from outside

4551-544: Is often imposed based on a deemed disposition of all the individual's property. One example is the United States under the American Jobs Creation Act , where any individual who has a net worth of $ 2 million or an average income-tax liability of $ 127,000 who renounces his or her citizenship and leaves the country is automatically assumed to have done so for tax avoidance reasons and is subject to

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4662-697: Is situated at Dumgoyne , on the south-western edge of the Scottish Highlands , close to Loch Lomond and to the north of Glasgow . Although distilled in the Highlands, making Glengoyne a Highland single malt , the whisky is matured in the Lowlands . This is because the distillery itself sits upon the Highland Line , the division between the Highlands and Lowlands of Scotland which splits the distillery in two. The boundary line runs underneath

4773-429: Is situated on the west bank of Loch Lomond. The facility is operated by Scottish and Southern Energy , and is normally in standby mode, ready to generate electricity to meet sudden peaks in demand. It is the largest conventional hydro electric power station in the UK, with an installed capacity of 152.5  MW , and can reach full-capacity within 5 minutes from a standing start. The hydraulic head between Loch Sloy and

4884-486: Is sometimes called a net wealth tax . Recurrent property taxes may be imposed on immovable property (real property) and on some classes of movable property. In addition, recurrent taxes may be imposed on the net wealth of individuals or corporations. Many jurisdictions impose inheritance tax on property at time of inheritance or gift tax at the time of gift transfer. Some jurisdictions impose taxes on financial or capital transactions . A property tax (or millage tax)

4995-618: Is surpassed only by Lough Neagh and Lough Erne in Northern Ireland. In the British Isles as a whole there are several larger loughs in the Republic of Ireland . The loch has a maximum depth of about 190 metres (620 ft) in the deeper northern portion, although the southern part of the loch rarely exceeds 30 metres (98 ft) in depth. The total volume of Loch Lomond is 2.6 km (0.62 cu mi), making it

5106-531: Is that during the Jacobite rising of 1745 a soldier on his way back to Scotland during the 1745–46 retreat from England wrote this song. The "low road" may be a reference to the Celtic belief that if someone died away from his homeland, then the fairies would provide a route of this name for his soul to return home. Within this theory, it is possible that the soldier awaiting death may have been writing either to

5217-607: Is the terminus of the North Clyde Line . Several different operators offer ferry services on the loch. Since 2004 Loch Lomond Seaplanes operates an aerial tour service from its seaplane base near Cameron. On 22 April 1940, a BOAC Lockheed Model 14 Super Electra ( Loch Invar , registration G-AFKD) aircraft flying from Perth Airport to Heston Aerodrome in London crashed at Loch Lomond, killing all five passengers and crew. The Loch Sloy Hydro-Electric Scheme

5328-439: Is the value of a good, service, or property. Sales taxes, tariffs, property taxes, inheritance taxes, and value-added taxes are different types of ad valorem tax. An ad valorem tax is typically imposed at the time of a transaction (sales tax or value-added tax (VAT)) but it may be imposed on an annual basis (property tax) or in connection with another significant event (inheritance tax or tariffs). In contrast to ad valorem taxation

5439-399: Is to reduce the environmental impact by repricing . Economists describe environmental impacts as negative externalities . As early as 1920, Arthur Pigou suggested a tax to deal with externalities (see also the section on Increased economic welfare below). The proper implementation of environmental taxes has been the subject of a long-lasting debate. An important feature of tax systems is

5550-412: Is widespread controversy and dispute about the proper definition of capital. Corporate tax refers to income tax, capital tax, net-worth tax, or other taxes imposed on corporations. Rates of tax and the taxable base for corporations may differ from those for individuals or for other taxable persons. Many countries provide publicly funded retirement or healthcare systems. In connection with these systems,

5661-514: The Early Medieval period viking raiders sailed up Loch Long , hauled their longboats over at the narrow neck of land at Tarbet, and sacked several islands in the loch. The area surrounding the loch later become part of the province of Lennox , which covered much of the area of the later county of Dunbartonshire . Loch Lomond became a popular destination for travellers, such that when James Boswell and Samuel Johnson visited

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5772-578: The Edrington Group . In 1966 and 1967 the number of stills was increased from two to three as the distillery underwent a rebuilding project. In 1984 the Lang Brothers became suppliers of whiskies to the then Queen Mother, Her Majesty Queen Elizabeth 's household. The Royal Warrant has since been delegated to Ian Macleod and is featured on all Glengoyne products. In April 2003, Ian Macleod Distillers Ltd. acquired Glengoyne Distillery, and

5883-482: The Highland Boundary Fault , often considered the boundary between the lowlands of Central Scotland and the Highlands. Traditionally forming part of the boundary between the counties of Stirlingshire and Dunbartonshire , Loch Lomond is split between the council areas of Stirling , Argyll and Bute and West Dunbartonshire . Its southern shores are about 23 kilometres (14 mi) northwest of

5994-711: The Loch Lomond National Nature Reserve . Seven islands and much of the shoreline form a Special Area of Conservation (SAC), the Loch Lomond Woods . This designation overlaps partially with the national nature reserve, and is protected due to the presence of Atlantic oak woodlands and a population of otters . Four islands and a section of the shoreline are designated as a Special Protection Area due to their importance for breeding capercaillie and visiting Greenland white-fronted geese : this designation overlaps partially with both

6105-649: The River Leven which means ‘elm water’ in Gaelic. The depression in which Loch Lomond lies was carved out by glaciers during the final stages of the last ice age , during a return to glacial conditions known as the Loch Lomond Readvance between 20,000 and 10,000 years ago. The loch lies on the Highland Boundary Fault , and the difference between the Highland and Lowland geology is reflected in

6216-497: The West Highland Line . The road narrows to less than 7.3 metres (24 ft) in places and causes significant problems for heavy goods vehicles (HGVs), which have to negotiate tight bends and the narrow carriageway width. At Pulpit rock, the road was single-track , with traffic flow controlled by traffic lights for over 30 years. The road was widened in 2015 as part of a £9 million improvement programme, including

6327-472: The customs house , and revenue derived from that source is called excise revenue proper. The fundamental conception of the term is that of a tax on articles produced or manufactured in a country. In the taxation of such articles of luxury as spirits , beer, tobacco, and cigars, it has been the practice to place a certain duty on the importation of these articles (a customs duty ). Excises (or exemptions from them) are also used to modify consumption patterns of

6438-402: The elderly , unemployment benefits , transfer payments , subsidies and public transportation . Energy , water and waste management systems are also common public utilities . According to the proponents of the chartalist theory of money creation , taxes are not needed for government revenue, as long as the government in question is able to issue fiat money . According to this view,

6549-443: The 'Glengoyne Single Malt' and 'Langs Blended Whisky' brands. The acquisition of Glengoyne Distillery meant that Ian Macleod became a fully integrated distiller, blender and bottler. Under Ian Macleod, Glengoyne saw a vast increase in output capacity as well as a similar rise in sales. Speaking of the acquisition and planned expansions in 2003, Leonard Russell, managing director for Ian Macleod stated "We'll be aiming to increase sales of

6660-650: The A81 road from Glasgow to Aberfoyle and passes in front of the distillery with the warehouses located to the southwest of the road. Glengoyne is located immediately adjacent the West Highland Way, the most popular long walk in Scotland, and regularly enjoys visits from hikers. Glengoyne is regularly referred to as the "most beautiful distillery in Scotland". The distillery has been in continuous operation producing Highland single malt whisky for over 175 years with

6771-510: The Glengoyne from the current level of 450,000 litres to one million litres next year". Later, speaking in 2005 Russell stated "we continue to make whisky exactly the same way at Glengoyne". The original warehouse built by George Connell is still on the site, as the shop and visitor reception area. Today, Glengoyne has eight working warehouses with a total capacity of nearly two million litres (4.5 million bottles) or spirit. Glengoyne Distillery

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6882-636: The Lang Brothers who were based in Glasgow. It is stated that the Langs intended to name the distillery Glengoyne , but due to a mistake by a clerk it was recorded as Glen Guin . In 1894, or 1905 it was changed to Glengoyne which comes from 'Glenguin' or 'Glen of the Wild Geese'. The distillery remained with the Lang Brothers until taken over by the Robertson & Baxter Group in 1965, who later became

6993-463: The Loch Lomond area around 5000 years ago, during the neolithic era. They left traces of their presence at places around the loch, including Balmaha, Luss, and Inchlonaig. Crannogs , artificial islands used as dwellings for over five millennia, were built at points in the loch. The Romans built a double-row of defense forts within sight of the loch at Drumquhassle in the first century, and

7104-558: The above states, only Alaska and New Hampshire do not levy a state sales tax. Additional information can be obtained at the Federation of Tax Administrators website. In the United States, there is a growing movement for the replacement of all federal payroll and income taxes (both corporate and personal) with a national retail sales tax and monthly tax rebate to households of citizens and legal resident aliens. The tax proposal

7215-534: The actions of anglers on the loch and ensure angling is carried out in accordance with permit conditions. Loch Lomond Golf Club is situated on the south-western shore. It has hosted many international events including the Scottish Open . Another golf club, "The Carrick" has opened on the banks of the Loch adjacent to the Loch Lomond Club. The West Highland Way runs along the eastern bank of

7326-485: The arts , public works , distribution , data collection and dissemination , public insurance , and the operation of government itself. A government's ability to raise taxes is called its fiscal capacity . When expenditures exceed tax revenue , a government accumulates government debt . A portion of taxes may be used to service past debts. Governments also use taxes to fund welfare and public services . These services can include education systems , pensions for

7437-412: The bloc. A customs union has a common external tariff , and the participating countries share the revenues from tariffs on goods entering the customs union. In some societies, tariffs also could be imposed by local authorities on the movement of goods between regions (or via specific internal gateways). A notable example is the likin , which became an important revenue source for local governments in

7548-473: The centre of Glasgow , Scotland's largest city. The Loch forms part of the Loch Lomond and The Trossachs National Park which was established in 2002. Loch Lomond is 36.4 kilometres (22.6 mi) long and between 1 and 8 kilometres (0.62–4.97 mi) wide, with a surface area of 71 km (27.5 sq mi). It is the largest lake in Great Britain by surface area; in the United Kingdom, it

7659-421: The cost of the licence required to distil, and the duty payable on spirit sales. Shortly after the introduction of the 'Excise Act of 1823' (or 'Walsh Act') the first of these illicit stills came into official existence, with Glengoyne following later in 1833. Although Glengoyne only officially existed from 1833 and no records exist from before this date, it is believed that distilling on the site pre-dates that with

7770-404: The cost of the sheet steel). The wholesale distributor will then continue the process, charging the retail distributor the VAT on the entire price to the retailer, but remitting only the amount related to the distribution mark-up to the government. The last VAT amount is paid by the eventual retail customer who cannot recover any of the previously paid VAT. For a VAT and sales tax of identical rates,

7881-407: The country typically requires employers or employees to make compulsory payments. These payments are often computed by reference to wages or earnings from self-employment. Tax rates are generally fixed, but a different rate may be imposed on employers than on employees. Some systems provide an upper limit on earnings subject to the tax. A few systems provide that the tax is payable only on wages above

7992-422: The effect of discouraging speculative purchases of assets by decreasing liquidity. In the United States , transfer tax is often charged by the state or local government and (in the case of real property transfers) can be tied to the recording of the deed or other transfer documents. Some countries' governments will require a declaration of the taxpayers' balance sheet (assets and liabilities), and from that exact

8103-463: The entire global population of Greenland white-fronted geese (around 200 individuals), and up to 3,000 greylag geese . In January 2023 RSPB Scotland released a family of beavers into the southeastern area of the loch under licence from NatureScot . The beaver family, consisting of an adult pair and their five offspring, were translocated from a site in Tayside, where beaver activity was having

8214-464: The estates of the deceased. In contrast with a tax on real estate (land and buildings), a land-value tax (or LVT) is levied only on the unimproved value of the land ("land" in this instance may mean either the economic term, i.e., all-natural resources, or the natural resources associated with specific areas of the Earth's surface: "lots" or "land parcels"). Proponents of the land-value tax argue that it

8325-525: The glaciers; however, as in Loch Tay , several of the islands appear to be crannogs , artificial islands built in prehistoric periods. English travel writer, H.V. Morton wrote: What a large part of Loch Lomond's beauty is due to its islands, those beautiful green tangled islands, that lie like jewels upon its surface. Writing 150 years earlier than Morton, Samuel Johnson had however been less impressed by Loch Lomond's islands, writing: But as it is,

8436-793: The government expenditure of taxes raised is often highly debated in politics and economics . Tax collection is performed by a government agency such as the Internal Revenue Service (IRS) in the United States , His Majesty's Revenue and Customs (HMRC) in the United Kingdom , the Canada Revenue Agency or the Australian Taxation Office . When taxes are not fully paid, the state may impose civil penalties (such as fines or forfeiture ) or criminal penalties (such as incarceration ) on

8547-506: The household. Thus, tax collectors often monitor newspaper articles for stories about wealthy people who have lent art to museums for public display, because the artworks have then become subject to personal property tax. If an artwork had to be sent to another state for some touch-ups, it may have become subject to personal property tax in that state as well. Inheritance tax, also called estate tax, are taxes that arise for inheritance or inherited income. In United States tax law , there

8658-418: The individual characteristics of the taxpayer, whereas indirect taxes are levied on transactions irrespective of the circumstances of buyer or seller." According to this definition, for example, income tax is "direct", and sales tax is "indirect". Loch Lomond Loch Lomond ( / ˈ l ɒ x ˈ l oʊ m ən d / ; Scottish Gaelic : Loch Laomainn ) is a freshwater Scottish loch which crosses

8769-566: The islands of Loch Lomond on the return from their tour of the Western Isles in 1773, the area was already firmly enough established as a destination for Boswell to note that it would be unnecessary to attempt any description. Loch Lomond is one of Scotland's premier boating and watersports venues, with visitors enjoying activities including kayaking , Canadian canoeing , paddle boarding , wake boarding , water skiing and wake surfing . The national park authority has tried to achieve

8880-482: The islets, which court the gazer at a distance, disgust him at his approach, when he finds, instead of soft lawns and shady thickets, nothing more than uncultivated ruggedness. The Scottish dock ( Rumex aquaticus ), sometimes called the Loch Lomond dock, is in Britain unique to the shores of Loch Lomond, being found mostly on around Balmaha on the eastern shore of the loch. It was first discovered growing there in 1936 (else it grows eastwards through Europe and Asia all

8991-512: The jurisdiction, which tax-law principles in the jurisdiction may modify or replace. The incidence of taxation varies by system, and some systems may be viewed as progressive or regressive . Rates of tax may vary or be constant (flat) by income level. Many systems allow individuals certain personal allowances and other non-business reductions to taxable income, although business deductions tend to be favored over personal deductions. Tax-collection agencies often collect personal income tax on

9102-734: The land. Property taxes are usually charged on a recurrent basis (e.g., yearly). A common type of property tax is an annual charge on the ownership of real estate , where the tax base is the estimated value of the property. For a period of over 150 years from 1695, the government of England levied a window tax , with the result that one can still see listed buildings with windows bricked up in order to save their owner's money. A similar tax on hearths existed in France and elsewhere, with similar results. The two most common types of event-driven property taxes are stamp duty , charged upon change of ownership, and inheritance tax , which many countries impose on

9213-508: The late Qing China . Occupational taxes or license fees may be imposed on businesses or individuals engaged in certain businesses. Many jurisdictions impose a tax on vehicles. A poll tax, also called a per capita tax , or capitation tax , is a tax that levies a set amount per individual. It is an example of the concept of fixed tax . One of the earliest taxes mentioned in the Bible of a half-shekel per annum from each adult Jew (Ex. 30:11–16)

9324-586: The loch is the A82 road which runs the length of its western shore, following the general route of the Old Military Road. The road runs along the shoreline in places, but generally keeps some distance to the west of the loch in the "lowland" section to the south. Much of the southern section of the road was widened to a high quality single carriageway standard over the 1980s, at an estimated cost of £24 million (£102 million as of 2023), while Luss itself

9435-710: The loch such as The Brigadier . Police Scotland also operates on the loch using RIBs and jet skis and work in conjunction with the national park authority. The loch has served as the venue for the Great Scottish Swim , which is held each year in August. Fly and coarse fishing on Loch Lomond is regulated by the Loch Lomond Angling Improvement Association (LLAIA), who issue permits to members and visiting anglers. The association employ water bailiffs to monitor

9546-499: The loch, and Inveruglas on the western bank is the terminus of the Loch Lomond and Cowal Way . The West Loch Lomond Cycle Path runs from Arrochar and Tarbet railway station , at the upper end of the loch, to Balloch railway station , at the south end. The 17-mile-long (28 km) long cycle path runs along the west bank. At the southern end of the loch near Balloch is a large visitor and shopping complex named Loch Lomond Shores. As with all land and inland water in Scotland there

9657-475: The loss, such that business losses can only be deducted against business income tax by carrying forward the loss to later tax years. In economics, a negative income tax (abbreviated NIT) is a progressive income tax system where people earning below a certain amount receive supplemental payment from the government instead of paying taxes to the government. Most jurisdictions imposing an income tax treat capital gains as part of income subject to tax. Capital gain

9768-555: The most southerly of the Scottish Munro peaks. A 2005 poll of Radio Times readers voted Loch Lomond as the sixth greatest natural wonder in Britain. Loch Lomond takes its name from the highest peak in the area, Ben Lomond , Scottish Gaelic : Beinn Laomainn , meaning ‘beacon mountain’ i.e. a site for warning beacons. However, the region in which the loch is located is Scottish Gaelic : Leamhnacht anglicised as Lennox and Loch Lomond "was of old Loch Leamhna " after

9879-468: The national nature reserve and the SAC. Loch Lomond is also a designated Ramsar site , again for the presence of Greenland white-fronted geese. The loch and its surrounding are designated as a national scenic area , one of forty such areas in Scotland, which have been defined so as to identify areas of exceptional scenery and to ensure its protection from inappropriate development. People first arrived in

9990-586: The non-paying entity or individual. The levying of taxes aims to raise revenue to fund governing , to alter prices in order to affect demand , or to regulate some form of cost or benefit . States and their functional equivalents throughout history have used the money provided by taxation to carry out many functions. Some of these include expenditures on economic infrastructure ( roads , public transportation , sanitation , legal systems , public security , public education , public health systems ), military , scientific research & development , culture and

10101-464: The outflow into Loch Lomond at Inveruglas is 277 m. The loch is featured in a well-known song which was first published around 1841. The chorus is: The song has been recorded by many performers over the years. The original author is unknown. One story is that the song was written by a Scottish soldier who awaited death in enemy captivity; in his final letter home, he wrote this song, portraying his home and how much he would miss it. Another tale

10212-417: The percentage of the tax burden as it relates to income or consumption. The terms progressive, regressive, and proportional are used to describe the way the rate progresses from low to high, from high to low, or proportionally. The terms describe a distribution effect, which can be applied to any type of tax system (income or consumption) that meets the definition. The terms can also be used to apply meaning to

10323-458: The public sector are comparable to prices. Examples include tuition at public universities and fees for utilities provided by local governments. Governments also obtain resources by "creating" money and coins (for example, by printing bills and by minting coins), through voluntary gifts (for example, contributions to public universities and museums), by imposing penalties (such as traffic fines ), by borrowing and confiscating criminal proceeds. From

10434-440: The purpose of taxation is to maintain the stability of the currency, express public policy regarding the distribution of wealth, subsidizing certain industries or population groups or isolating the costs of certain benefits, such as highways or social security. The Organisation for Economic Co-operation and Development (OECD) publishes an analysis of the tax systems of member countries. As part of such analysis, OECD has developed

10545-491: The right amount of tax at the right time and securing the correct tax allowances and tax relief. The first known taxation occurred in Ancient Egypt around 3000–2800 BC. Taxes consist of direct or indirect taxes and may be paid in money or as labor equivalent. All countries have a tax system in place to pay for public, common societal, or agreed national needs and for the functions of government. Some countries levy

10656-406: The sea level rose, and for several periods Loch Lomond was connected to the sea, with shorelines identified at 13, 12 and 9 metres above sea level (the current loch lies at 8 m above sea level). The change in rock type can be clearly seen at points around the loch, as it runs across the islands of Inchmurrin , Creinch , Torrinch and Inchcailloch and over the ridge of Conic Hill . To

10767-516: The sea, the river lamprey here remain in freshwater all their lives, hatching in the Endrick Water and migrating into the loch as adults. The surrounding hills are home to species such as black grouse , ptarmigan , golden eagles , pine martens , red deer and mountain hares . Many species of wading birds and water vole inhabit the loch shore. During the winter months large numbers of geese migrate to Loch Lomond, including over 1% of

10878-432: The second largest lake in Great Britain, after Loch Ness , by water volume. The loch contains many islands, including Inchmurrin , the largest fresh-water island in the British Isles . Loch Lomond is a popular leisure destination and is featured in the song " The Bonnie Banks o' Loch Lomond ". The loch is surrounded by hills, including Ben Lomond on the eastern shore, which is 974 metres (3,196 ft) in height and

10989-474: The shape and character of the loch: in the north the glaciers dug a deep channel in the Highland schist , removing up to 600 m of bedrock to create a narrow, fjord-like finger lake . Further south the glaciers were able to spread across the softer Lowland sandstone , leading to a wider body of water that is rarely more than 30 m deep. In the period following the Loch Lomond Readvance

11100-472: The south lie green fields and cultivated land; to the north, mountains. The loch contains thirty or more other islands, depending on the water level. Several of them are large by the standards of British bodies of freshwater. Inchmurrin , for example, is the largest island in a body of freshwater in the British Isles. Many of the islands are the remains of harder rocks that withstood the passing of

11211-410: The supply of people is in fact not fixed over time: on average, couples will choose to have fewer children if a poll tax is imposed. The introduction of a poll tax in medieval England was the primary cause of the 1381 Peasants' Revolt . Scotland was the first to be used to test the new poll tax in 1989 with England and Wales in 1990. The change from progressive local taxation based on property values to

11322-516: The taxation of select consumption, such as a tax on luxury goods and the exemption of basic necessities may be described as having progressive effects as it increases a tax burden on high end consumption and decreases a tax burden on low end consumption. Taxes are sometimes referred to as "direct taxes" or "indirect taxes". The meaning of these terms can vary in different contexts, which can sometimes lead to confusion. An economic definition, by Atkinson, states that "...direct taxes may be adjusted to

11433-405: The total payroll. These taxes may be imposed in both the country and sub-country levels. A wealth tax is levied on the total value of personal assets, including: bank deposits, real estate, assets in insurance and pension plans, ownership of unincorporated businesses , financial securities , and personal trusts. Liabilities (primarily mortgages and other loans) are typically deducted, hence it

11544-681: The total tax paid is the same, but it is paid at differing points in the process. VAT is usually administrated by requiring the company to complete a VAT return, giving details of VAT it has been charged (referred to as input tax) and VAT it has charged to others (referred to as output tax). The difference between output tax and input tax is payable to the Local Tax Authority. Many tax authorities have introduced automated VAT which has increased accountability and auditability , by utilizing computer systems, thereby also enabling anti-cybercrime offices as well. Sales taxes are levied when

11655-415: The use of warm air. The clear and bright appearance and distinctive flavour of the Glengoyne single malts are credited to this lack of peat smoke. This rare characteristic is utilised in the marketing of Glengoyne with the use of the promotional slogan "The authentic taste of malt whisky untainted by peat smoke". As a result of the use of unpeated malt Glengoyne has been noted as being stylistically closer to

11766-443: The view of economists, a tax is a non-penal, yet compulsory transfer of resources from the private to the public sector , levied on a basis of predetermined criteria and without reference to specific benefits received. In modern taxation systems, governments levy taxes in money; but in-kind and corvée taxation are characteristic of traditional or pre- capitalist states and their functional equivalents. The method of taxation and

11877-475: The way to Japan). Powan are one of the commonest fish species in the loch, which has more species of fish than any other loch in Scotland, including lamprey , lampern , brook trout , perch , loach , common roach and flounder . The river lamprey of Loch Lomond display an unusual behavioural trait not seen elsewhere in Britain: unlike other populations, in which young hatch in rivers before migrating to

11988-594: The western shore of the loch just north of Arrochar and Tarbet railway station . There is a further station alongside the loch at Ardlui . This line was voted the top rail journey in the world by readers of independent travel magazine Wanderlust in 2009, ahead of the iconic Trans-Siberian line in Russia and the Cuzco to Machu Picchu line in Peru. The railway system also reaches the loch at Balloch railway station , which

12099-516: The year 1643, as part of a scheme of revenue and taxation devised by parliamentarian John Pym and approved by the Long Parliament . These duties consisted of charges on beer, ale, cider, cherry wine, and tobacco, to which list were afterward added paper, soap, candles, malt, hops, and sweets. The basic principle of excise duties was that they were taxes on the production, manufacture, or distribution of articles which could not be taxed through

12210-443: Was a form of the poll tax. Poll taxes are administratively cheap because they are easy to compute and collect and difficult to cheat. Economists have considered poll taxes economically efficient because people are presumed to be in fixed supply and poll taxes, therefore, do not lead to economic distortions. However, poll taxes are very unpopular because poorer people pay a higher proportion of their income than richer people. In addition,

12321-559: Was built to protect themselves against the Highland tribes during their invasion of Scotland . Known as a “glen-blocker” fort, it dates back to the Flavian dynasty (69 – 96 AD). The crannog known as "The Kitchen", located off the island of Clairinsh , may have later been used as a place for important meetings by Clan Buchanan whose clan seat had been on Clairinsh since 1225: this usage would be in line with other crannogs such as that at Finlaggan on Islay , used by Clan Donald . During

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