Amendment: The Enterprise Tax Act (643): Difference between revisions
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Amendment: The Enterprise Tax Act (643) (view source)
Revision as of 22:15, 20 February 2024
, 4 months ago→Article 2 - The Capital Gains Tax
(Created page with "=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.''<br> ''PASSED 26 July 2022 with 14 Aye, 4 Nay, 2 Abstain.''<br> ''AMENDED 16 April 2023 by the Taxation Revision Resolution.''<br> ''AMENDED 16 September 2023 by the Business Relief Resolution, 658.'' ==Article 1 - The Corporation Tax== :1.1 - Enacts a flat levy upon all gross operating profits of an or...") |
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: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 '''28%''' of total reported capital gains after deductions.
==Article 3 - Diverted Profits Tax==
:3.1 - Creates a tax levied on estimates regarding large, multinational companies profits earned in this country, regardless of their actual reporting.
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