Business Relief Resolution, 658
From The Kodiak Republic Wiki
Business Relief Resolution, 658
A resolution to promote investment into the Kodiak economy and provide tax relief to businesses and startups in The Kodiak Republic.
PASSED on the 16th of September 2023, 12 Aye, 3 Nay, 3 Abstain.
Preamble
BE IT RESOLVED BY THE GENERAL ASSEMBLY OF THE MOST SERENE REPUBLIC OF KODIAK
RECOGNISING that the Kodiak economy struggles to grow and we risk the continuation of economic hardship on the people of the Kodiak Republic.
RESOLVES that the government must step in to support and encourage businesses in growth and encourage renewed investment into the Kodiak economy.
HEREBY proposes to provide tax relief to businesses established in Kodiak in order to open the economy for greater investment.
Article I: Business Taxation Relief
1.1 - The Corporation tax, as described in ‘The Enterprise Act, 643’, shall be reduced to 12.5% from 25% for 6 months for eligible businesses.
1.2 - The tax relief will be applied to all existing businesses or businesses that begin operating in Kodiak in the next full calendar year from passage of this resolution.
Article II: Repeal of the Payroll Tax
2.1 - Hereby repeals the Payroll Tax as written in Article 4 of ‘The Enterprise Tax Act, 643’
Proposed by the National Coalition under Chancellor Willard Magnus Ward
