Tax which takes a greater proportion or percentage the higher the income of the taxpayer. This contrasts with regressive tax, where the proportion paid falls as income increases, and proportional tax, where the proportion paid remains the same at all levels of income. Examples of progressive taxes in the UK include income tax and capital gains tax.
Blue stands for the sea. Green represents agriculture and natural wealth. White symbolizes peace. Red recalls the struggle for independence. Effective date: 21 August 1979.