The Individual Income Tax Act (630): Difference between revisions
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''An act to fund government expenditure from individual revenues.''<br>
''Passed on 26 Sep 2021 with 5 Aye, 0 Nay, 0 Abstain,''<br>
''AMENED by the [[Amendment: The Individual Income Tax Act (630)]]''<br>
==Article 1 - The Income Tax==
:1.2 - Creates a progressive tax on all earnings by citizens of the Republic set at the median annual tax rate of 11%.▼
▲:1.
:1.2 – The first ₣15,000 of Income shall be tax free<br>
:1.2 - ₣15,000 - ₣30,000 shall be taxed at 20%<br>
:1.3 - ₣30,000 - ₣60,000 shall be taxed at 37%<br>
:1.4 - ₣60,000 - ₣120,000 shall be taxed at 56%<br>
:1.5 - ₣120,000 and over shall be taxed at 72%
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