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.
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.