The Commodity and Services Tax Act, 643: Difference between revisions
From The Kodiak Republic Wiki
Content added Content deleted
m (1 revision imported) |
No edit summary |
||
Line 5: | Line 5: | ||
''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> |
''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.'' |
''Passed 26 July 2022 with 14 Aye, 4 Nay, 2 Abstain.'' |
||
''Amended 16 April 2023 by the Taxation Revision Resolution'' |
|||
==Article 1 - The Land Value Tax== |
==Article 1 - The Land Value Tax== |
||
Line 39: | Line 40: | ||
:7.3 - Removes this levy for any substance acquired on the advice and prescription of a practicing and certified medical professional. |
: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. |
:7.4 - Sets the Recreational Drugs Levy to be 45% of the gross sale price. |
||
__NOTOC__ |
|||
==Article 8 - Property Tax== |
|||
:8.1 - Sets the Property Tax to 1%. |
|||
:8.2 - 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. |
|||
==Article 9 - Luxury Goods Tax== |
|||
:9.1 - Sets the Luxury Goods Tax to 9% of the gross sale price. This is appended onto the existing Point of Sale Tax. |
|||
:9.2 - 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 8 Added by the [[Taxation Revision Resolution]] |
|||
:Article 9 Added by the [[Taxation Revision Resolution]] |
Revision as of 00:58, 17 April 2023
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.
Amended 16 April 2023 by the Taxation Revision Resolution
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.
Article 8 - Property Tax
- 8.1 - Sets the Property Tax to 1%.
- 8.2 - 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.
Article 9 - Luxury Goods Tax
- 9.1 - Sets the Luxury Goods Tax to 9% of the gross sale price. This is appended onto the existing Point of Sale Tax.
- 9.2 - 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 8 Added by the Taxation Revision Resolution
- Article 9 Added by the Taxation Revision Resolution