The Commodity and Services Tax Act, 643: Difference between revisions
From The Kodiak Republic Wiki
FDold>Rakkeyal (Created page with " =The Commodity and Services Tax Act, 643= ''An act to fund public programs and other necessary government expenditure as well as to disincentivise certain economic behaviours through a levy on the sale of goods and services.''<br> ''Passed 26 July 2022 with 14 Aye, 4 Nay, 2 Abstain.'' ==Article 1 - The Land Value Tax== :1.1 - Creates an annual flat tax on the value of privately owned and managed land. :1.2 - Specifically excludes the valuation of any property or imp...") |
m (1 revision imported) |
(No difference)
|
Revision as of 23:02, 26 December 2022
The Commodity and Services Tax Act, 643
An act to fund public programs and other necessary government expenditure as well as to disincentivise certain economic behaviours through a levy on the sale of goods and services.
Passed 26 July 2022 with 14 Aye, 4 Nay, 2 Abstain.
Article 1 - The Land Value Tax
- 1.1 - Creates an annual flat tax on the value of privately owned and managed land.
- 1.2 - Specifically excludes the valuation of any property or improvements to a parcel of land.
- 1.3 - Sets the annual Land Value Tax Rate to be 10%.
Article 2 - The Under-utilised Residential Property Tax
- 2.1 - Creates an annual levy on the value of residential property left vacant for more more than six months in a calendar year.
- 2.2 - Sets the annual Under-utilised Residential Property Tax to 25%.
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.
Article 6 - The Alcohol Sales Levy
- 6.1 - Creates a flat tax on the sale of beer, wine, spirits, and all other ethanol-containing products intended to be taken internally.
- 6.2 - Appends this levy in addition to the Point of Sales Tax.
- 6.3 - Sets the Alcohol Sales Levy to be 30% of the gross sale price.
Article 7 - The Recreational Drugs Levy
- 7.1 - Creates a flat tax on the sale of all legal Schedule B and Schedule D recreational drugs.
- 7.2 - Appends this levy in addition to the Point of Sales Tax.
- 7.3 - Removes this levy for any substance acquired on the advice and prescription of a practicing and certified medical professional.
- 7.4 - Sets the Recreational Drugs Levy to be 45% of the gross sale price.