The Enterprise Tax Act, 643

From The Kodiak Republic Wiki

The Enterprise Tax Act, 643

An act to fund public programs and other necessary government expenditure through a levy on the profits of general enterprise.
PASSED 26 July 2022 with 14 Aye, 4 Nay, 2 Abstain.
AMENDED 16 April 2023 by the Taxation Revision Resolution.
AMENDED 16 September 2023 by the Business Relief Resolution, 658.
AMENDED 02 May 2024 by the Welch Tax Reform Resolution, 666.

Article 1 - The Corporation Tax

1.1 - Enacts a flat levy upon all gross operating profits of an organisation or commercial enterprise with sales with the Kodiak Republic.
1.2 - The Corporation Tax Rate shall be set at 15% of total reported gross profitable revenue.

Article 2 - The Capital Gains Tax

2.1 - Enacts a flat levy upon the net physical or financial capital income of an individual, organisation, or enterprise.
2.2 - Permits a one-to-one deduction of capital losses to present capital gains if such capital losses were accrued within the previous three financial years.
2.3 - The Capital Gains Tax Rate shall be set at 25% of total reported capital gains after deductions.

Article 3 - Diverted Profits Tax

3.1 - Creates a tax levied on estimates regarding large, multinational companies profits earned in this country, regardless of their actual reporting.
3.2 - The Kodiak Revenue Directorate (KRD) is responsible for creating estimates on these companies and enforcing them with respect to the corporation tax.
Cookies help us deliver our services. By using our services, you agree to our use of cookies.