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Bill: Taxes Act, December 2938
Details
Submitted by[?]: 國民進步保守黨 Nat'l Tory Bloc
Status[?]: passed
Votes: This is an ordinary bill. It requires more yes votes than no votes. This bill will not pass any sooner than the deadline.
Voting deadline: August 2939
Description[?]:
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Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 12
Current: 40
Proposed: 11
Article 2
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 15
Current: 0
Proposed: 12
Article 3
Proposal[?] to change Sales tax on luxury goods.
Old value:: 26
Current: 50
Proposed: 24
Debate
These messages have been posted to debate on this bill:
| Date | 23:38:13, May 15, 2010 CET | From | 姬恩黨 (Jien Faction) 🌄 | To | Debating the Taxes Act, December 2938 |
| Message | Mr. Speaker, This bill is completely unfair to the upper and middle classes. Taxing corporations will only raise prices, which would increase the sales taxes of all goods. Thus, the consumer loses. We should have a flat sales tax on luxury and non-luxury goods. That way, people pay equal shares and the government gains even more money than an income tax or corporate tax. We yield. |
| Date | 07:01:43, May 16, 2010 CET | From | 國民進步保守黨 Nat'l Tory Bloc | To | Debating the Taxes Act, December 2938 |
| Message | (Speaker of the Legislative Yuan): The Honourable Minister of Finance and Revenue. (Hon. Jin Shufa, Minister of Finance and Revenue): Mr. Speaker, Our country has one of the lowest and one of the most competitive corporate tax rates in Terra. Our economy is also one of the strongest in Terra. And our Currency is one of the strongest in Terra. In comparison with countries that have a 0% corporate tax rate, our economic and fiscal situation is much better than theirs. Corporate taxes are a remind to corporations that they have to return some of the IN$5.3 Trillion our government pumps into their businesses every fiscal year, which is one of the reasons for a continual growth in consumption, in investments, and in GDP over the last decades. Mr. Speaker, The Government would also like to point out that it is a misconception that consumption taxes will ever overtake income tax revenue. Mr. Speaker, the Government believes that this bill represents realistic and fiscally responsible tax cuts and will stand by it. |
| Date | 07:08:27, May 16, 2010 CET | From | 姬恩黨 (Jien Faction) 🌄 | To | Debating the Taxes Act, December 2938 |
| Message | Mr. Speaker, If you get rid of the government subsidies, which our new bill will take care of, then the corporate tax is unnecessary. Flat sales taxes, otherwise known as VAT, are very efficient and are the trademark form of taxation of the most industrially advanced nations of Terra/ It is time for us to move towards the future of business, not repress it with taxes. Why would a consumption tax not replace corporate income taxes? More people are paying, including the corporations who have to buy supplies. In the end, more money is generated. We yield. |
| Date | 07:25:19, May 16, 2010 CET | From | 國民進步保守黨 Nat'l Tory Bloc | To | Debating the Taxes Act, December 2938 |
| Message | (Speaker of the Legislative Yuan): The Honourable Minister of Finance and Revenue. (Hon. Jin Shufa, Minister of Finance and Revenue): Mr. Speaker, Goods and Services Taxes and/or Value Added Taxes are some of the most regressive taxes. And where does the opposition get the idea that we aren't one of the top economies in Terra, top ten if I'm not mistaken. Our economy continues to outperform others because of the fiscal and economic policies this Government has implemented. |
| Date | 07:31:19, May 16, 2010 CET | From | 姬恩黨 (Jien Faction) 🌄 | To | Debating the Taxes Act, December 2938 |
| Message | Mr. Speaker, We strive for Indrala to be the best, not number two. A value added tax allows for the rich to ultimately pay more. Those who do not have as much money will not be buying as much, therefore, they pay less. A value added tax creates equality. We yield. |
| Date | 07:34:33, May 16, 2010 CET | From | 國民進步保守黨 Nat'l Tory Bloc | To | Debating the Taxes Act, December 2938 |
| Message | (Speaker of the Legislative Yuan): The Honourable Minister of Finance and Revenue. (Hon. Jin Shufa, Minister of Finance and Revenue): Mr. Speaker, VAT creates disparity, and this Government cannot allowed that. |
| Date | 07:41:13, May 16, 2010 CET | From | 姬恩黨 (Jien Faction) 🌄 | To | Debating the Taxes Act, December 2938 |
| Message | Mr. Speaker, All citizens should pay their share of taxes and each economic class will be paying more than the other according to each class' economic make up. The upper classes will be paying the most. Why doesn't the Guomindang understand this? We yield. |
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Voting
| Vote | Seats | ||
| yes | Total Seats: 100 | ||
| no | Total Seats: 0 | ||
| abstain | Total Seats: 0 |
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