The Enterprise Tax Act, 643

=The Enterprise Tax Act, 643=

An act to fund public programs and other necessary government expenditure through a levy on the profits of general enterprise. Passed 26 July 2022 with 14 Aye, 4 Nay, 2 Abstain.

Article 1 - The Corporation Tax

 * 1.1 - Enacts a flat levy upon all gross operating profits of an organisation or commercial enterprise with sales with the Kodiak Republic.
 * 1.2 - The Corporation Tax Rate shall be set at 25% of total reported gross profitable revenue.

Article 2 - The Capital Gains Tax

 * 2.1 - Enacts a flat levy upon the net physical or financial capital income of an individual, organisation, or enterprise.
 * 2.2 - Permits a one-to-one deduction of capital losses to present capital gains if such capital losses were accrued within the previous three financial years.
 * 2.3 - The Capital Gains Tax Rate shall be set at 25% of total reported capital gains after deductions.

Article 3- The Kodiak Revenue Directorate

 * 3.1 - The Kodiak Revenue Directorate (KRD) is responsible for creating estimates on these companies and enforcing them with respect to the corporation tax.


 * Article 3 added by the Taxation Revision Resolution