The Enterprise Tax Act, 643: Difference between revisions
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''An act to fund public programs and other necessary government expenditure through a levy on the profits of general enterprise.''<br> |
''An act to fund public programs and other necessary government expenditure through a levy on the profits of general enterprise.''<br> |
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''PASSED 26 July 2022 with 14 Aye, 4 Nay, 2 Abstain.''<br> |
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''AMENDED 16 April 2023 by the [[Taxation Revision Resolution]].''<br> |
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''AMENDED 16 September 2023 by the [[Business Relief Resolution, 658]].'' |
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==Article 1 - The Corporation Tax== |
==Article 1 - The Corporation Tax== |
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: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. |
:2.2 - 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. |
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:2.3 - The Capital Gains Tax Rate shall be set at 25% of total reported capital gains after deductions. |
:2.3 - The Capital Gains Tax Rate shall be set at 25% of total reported capital gains after deductions. |
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==Article 3 - |
==Article 3 - Diverted Profits Tax== |
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:3.1 - Creates a tax levied on estimates regarding large, multinational companies profits earned in this country, regardless of their actual reporting. |
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:3. |
:3.2 - The Kodiak Revenue Directorate (KRD) is responsible for creating estimates on these companies and enforcing them with respect to the corporation tax. |
Revision as of 08:09, 3 January 2024
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.
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 25% 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.