Apple Tax Reform 772

Acknowledging the struggles of the Kodiak economy and Kodiak debts.

Bringing more revenue to the government and small businesses.

Amending The Commodity and Services Tac Act, 643 and The Enterprise Act, 643

Original text: The Commodity and Services Tax Act, 643

Article 3 - The Point of Sales Tax

3.1 - Creates a flat tax on the sale of all goods and services to be collected by the seller at the point of sale.

3.2 - Sets the Point of Sale Tax Rate to 7% of the gross untaxed sale price.

Article 4 - The Petroleum Sales Levy

4.1 - Creates a flat tax on the sale of petroleum, gasoline, butane, diesel, and other oil based fuels.

4.2 - Appends this levy in addition to the Point of Sales Tax.

4.3 - Sets the Petroleum Levy to be 15% of the gross sale price.

Article 5 - The Tobacco Sales Levy

5.1 - Creates a flat tax on the sale of cigarettes, cigars, snuff, chew, loose tobacco, and all other tobacco products to be taken internally.

5.2 - Appends this levy in addition to the Point of Sales Tax.

5.3 - Sets the Tobacco Sales Levy to be 30% of the gross sale price.

Amended text

Article 3 - The Point of Sales Tax

3.1 - Creates a flat tax on the sale of all goods and services to be collected by the seller at the point of sale.

3.2 - Sets the Point of Sale Tax Rate to 10% of the gross untaxed sale price.

Article 4 - The Petroleum Sales Levy

4.1 - Creates a flat tax on the sale of petroleum, gasoline, butane, diesel, and other oil based fuels.

4.2 - Appends this levy in addition to the Point of Sales Tax.

4.3 - Sets the Petroleum Levy to be F0.10

per gallon then adjusted for inflation.

Article 5 - The Tobacco Sales Levy

5.1 - Creates a flat tax on the sale of cigarettes, cigars, snuff, chew, loose tobacco, and all other tobacco products to be taken internally.

5.2 - Appends this levy in addition to the Point of Sales Tax.

5.3 - Sets the Tobacco Sales Levy to be 35% of the gross sale price.

Original text: The Enterprise Act, 643

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 15% of total reported gross profitable revenue.

1.3 - Small Business Tax Rate: The tax rate for small businesses, as defined in The Kodiak Revenue Directorate Act, shall be set at 10% of their annual taxable income.

1.4 - Employee-Owned Business Tax Rate: The tax rate for employee-owned businesses, as defined in The Kodiak Revenue Directorate Act, shall also be set at 10% of their annual taxable income.

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.

Amended text

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 18% of total reported gross profitable revenue.

1.3 - Small Business Tax Rate: The tax rate for small businesses, as defined in The Kodiak Revenue Directorate Act, shall be set at 10% of their annual taxable income.

1.4 - Employee-Owned Business Tax Rate: The tax rate for employee-owned businesses, as defined in The Kodiak Revenue Directorate Act, shall also be set at 10% of their annual taxable income.

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 28% of total reported capital gains after deductions.

Written and authored by MGA and minister Redmin Peach Apple.