The Commodity Tax Act (630)
From The Kodiak Republic Wiki
An act to fund government expenditure and exert market controls.
Passed 26 Sep 2021 with 5 Aye, 0 Nay, 0 Abstain
Article 1 - The Property Tax
- 1.1 - Creates a flat tax on all private landed property, set at an annual rate of 6% of the assessed total improved value.
Article 2 - The Underutilised Residential Property Tax
- 2.1 - Creates a 25% tax on the value of residential property left vacant for more more than six months in a calendar year.
Article 3 - The Petroleum Tax
- 3.1 - Creates a flat tax on the sale of petroleum, gasoline, butane, diesel, and other oil based fuels, set at a rate of 5% of the initial untaxed sale price.
Article 4 - The Point of Sales Tax
- 4.1 - Creates a flat tax on the sale of all goods and services, set at a rate of 7% of the initial untaxed sale price and collected by the seller at the point of sale.