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Bill: IPS - Income and Sales Taxation Act / 2118
Details
Submitted by[?]: Imperial Party of Selucian
Status[?]: passed
Votes: This bill proposes to change income taxes. It requires more than half of the legislature to vote yes. This bill will not pass any sooner than the deadline.
Voting deadline: May 2120
Description[?]:
| The Imperial Party of Selucian propose to adjust the government's income tax policy to better address the economic situation of the Selucian Empire. Current taxation law: > 282 SEN 5% 471,011,160 SEN > 564 SEN 10% 2,826,067,360 SEN > 1,410 SEN 15% 7,070,179,280 SEN > 2,821 SEN 20% 17,585,366,349 SEN > 5,642 SEN 25% 23,343,869,467 SEN > 11,283 SEN 30% 23,934,685,222 SEN Total 75,231,178,838 SEN Tax Relief: 16.078.178.838 SEN ***************************************************************************************** Current Sales Tax: Essential goods 4.00% 4,831,519,595 SEN Luxury goods 5.00% 4,026,266,329 SEN Total 8,857,785,924 SEN After changin: Essential goods 2% 2.415.759.797 SEN Luxury goods 10% 8.052.532.658 SEN Total: 10.468.292.455 SEN Sales Tax Relief: Essential goods: 2.415.759.797 SEN All in all surplus ca 1.6 mio SEN ************************************************************************ Tax income including income taxation and sales tax after this bill: 69.621.292.455 SEN This will give our beloved citizen an overall tax relief of: 14.467.672.307 SEN |
Proposals
Article 1
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 4
Current: 0
Proposed: 2
Article 2
Proposal[?] to change Sales tax on luxury goods.
Old value:: 5
Current: 30
Proposed: 10
Article 3
We propose to alter income tax brackets to the following setup. Information about the current income tax system can be found here.
| Bracket | Tax | Estimated Revenue |
| > 1,000 SEN | 6% | 3,425,000,000 SEN |
| > 2,000 SEN | 10% | 11,417,000,000 SEN |
| > 4,000 SEN | 18% | 30,165,000,000 SEN |
| > 8,000 SEN | 24% | 31,981,000,000 SEN |
| > 16,000 SEN | 30% | 21,581,000,000 SEN |
| > 30,000 SEN | 36% | 3,892,000,000 SEN | Total | 102,461,000,000 SEN |
Debate
These messages have been posted to debate on this bill:
| Date | 16:54:59, September 30, 2005 CET | From | Imperial Party of Selucian | To | Debating the IPS - Income and Sales Taxation Act / 2118 |
| Message | You will notice citizen with less then 1.000 SEN will not pay any taxes. This will help the poorer citizens to have more money in their pocket. If you all take a good look you will also notice everbody saves money with this new law. But we need to bring this in a better social responsibility. With this in mind we reduced the sales tax for essential goods (2%) and increase the sales tax for luxury goods (10%) Before anybody tries to say "..poor rich citizens , they have to pay 10% for their new Porsche or Ferrari..." we point out also those citizens saved a lot of money with this new income taxation bill. So it is fair the contribute in another way. But the overall positive aspect is: the low level income needn't to pay taxations on their income AND their sales taxation on essential goods is reduced 50%. This will offer those citizens the possibility to participate and consume in a better way then before. They -of course- will spend more money now and this is also a good sign for our economy. The negative side is - to tell the truth- our surplus will be reduce to around 7.0 mio SEN only. |
| Date | 17:46:36, September 30, 2005 CET | From | National Front | To | Debating the IPS - Income and Sales Taxation Act / 2118 |
| Message | The surplus will like grow back due to the economic boom this will release. I say let's do it. |
| Date | 19:49:50, September 30, 2005 CET | From | Free Capitalist Coalition | To | Debating the IPS - Income and Sales Taxation Act / 2118 |
| Message | As the minister of economics, we refuse to support this bill, which would put us into a deficit, unless a majority of the parties agree on a scheme to cut back approximatly SEN10,000,000 or allow us to cut back the budget as we see fit. If we can, then we will happily support this. |
| Date | 20:05:57, September 30, 2005 CET | From | Imperial Party of Selucian | To | Debating the IPS - Income and Sales Taxation Act / 2118 |
| Message | There will be no deficit at all. Our yearly surplus is over 21.0 mio SEN. When we sign this bill our yearly surplus will be around 7.0 mio. But -as said by the NF before- it will increase fast. We are still making a big plus. The benefits of this bill is higher then the differences between the two surplus summs. |
| Date | 03:11:47, October 01, 2005 CET | From | New Passive Militarist Party | To | Debating the IPS - Income and Sales Taxation Act / 2118 |
| Message | The FCC does well with their management of the Ministry of Economics. Perhaps if the FCC and the IPS could agree upon the numbers, the PMP could decide upon how to vote upon this bill. |
| Date | 03:12:23, October 01, 2005 CET | From | New Passive Militarist Party | To | Debating the IPS - Income and Sales Taxation Act / 2118 |
| Message | (we like the idea in principle) |
| Date | 03:41:19, October 01, 2005 CET | From | Imperial Party of Selucian | To | Debating the IPS - Income and Sales Taxation Act / 2118 |
| Message | We ask the FCC to bring in their numbers. If the FCC counts the current taxes together and take alok on our economy fact book she will discover a surplus more then 21.0 mio SEN. Now count the SEN within this new bill. We will only reduse our surplus without to fear to run out of SEN. Also the economical boost of the tax relief poorer workers will push the industry forward. But of course we will take a look on the numbers the FCC may bring in. |
| Date | 09:58:41, October 03, 2005 CET | From | VBS Party | To | Debating the IPS - Income and Sales Taxation Act / 2118 |
| Message | I think taxes are way to high, but we should lower them in another way: we should give everyone like a 5% income tax en tax products more. That way, people will be more motivated to find a job |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 554 | ||||
| no |
Total Seats: 0 | ||||
| abstain | Total Seats: 21 |
| Random fact: Cabinet ministers who disagree seriously with the head of government would usually be expected to resign. Parties within the cabinet may attempt to manoeuvre to replace the head of government though, for example by proposing a new cabinet bill or voting for an early election. |
| Random quote: "Take our country back" - Conservative Republican campaign slogan for the 4690 Likatonian election |