Taxation Revision Resolution

Article 1: New Taxes

1.1 - Creates a tax levied on estimates regarding large, multinational companies profits earned in this country, regardless of their actual reporting.

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

1.2 - Creates a flat payroll tax levied on employers in proportion to the salaries paid to employees.

1.2.1 - Sets the Payroll Tax to 5%.

1.3 - Creates a flat tax on families with more than one home on the value of all their residential property. Single family homes will not have the property tax applied to them.

1.3.1 - Sets the Property Tax to 1%.

1.3.2 - A single family home is defined as: a free-standing residential building. Single-family homes are designed to be used as a single-dwelling unit, with one owner, no shared walls, and its own land. Town houses are also defined as a single-family home as long as these dwellings are separated by a ground-to-roof wall.

1.4 - Creates a flat tax on all luxury goods sold.

1.4.1 - Sets the Luxury Goods Tax to 9% of the gross sale price. This is appended onto the existing Point of Sale Tax.

1.4.2 - A Luxury good is defined as: Haute couture/designer/custom fitted clothing, accessories such as jewelry and high-end watches, high-end automobiles (Sports cars, SUVs, EVs, Super Cars, Race Cars), private yachts, and wine costing more than 150 florins per 375mL bottle.

Article 2: Repeal of Existing Taxes

2.1 - Repeal The Micro-Enterprises Act, 649.