ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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The Next Round

should be enlarged by raising the import duty on such goods from 27.5 to 35 per cent. Fourth, some innovations are possible in direct urban taxation: a differen- tial wealth tax on urban property irrespective of its ownership (which is better than imposition of a ceiling on property), and a differential tax on non-contractual and unearned incomes. The degree of consumers' surplus and tax evasion are the largest in these two spheres.

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