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Bill: Income tax proposal of December 3064
Details
Submitted by[?]: Federal Republican Party (ZC)
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: August 3065
Description[?]:
The Federal Republican Party (ZC) propose to adjust the government's income tax policy to better address the economic situation of the Federation of Zardugal. |
Proposals
Article 1
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 1
Current: 5
Proposed: 4
Article 2
Proposal[?] to change Sales tax on luxury goods.
Old value:: 5
Current: 8
Proposed: 7
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 |
> 500 ZAR | 27% | 7,741,000,000 ZAR |
> 1,000 ZAR | 30% | 68,810,000,000 ZAR |
> 5,000 ZAR | 32% | 850,360,000,000 ZAR | Total | 926,911,000,000 ZAR |
Debate
These messages have been posted to debate on this bill:
Date | 02:31:25, January 23, 2011 CET | From | Federal Republican Party (ZC) | To | Debating the Income tax proposal of December 3064 |
Message | OOC: Through this up in case you miss the other. |
Date | 07:37:12, January 23, 2011 CET | From | Federal Republican Party (ZC) | To | Debating the Income tax proposal of December 3064 |
Message | Prior to the introduction of this measure the Federation's revenues were at; 1,265,964,820,439 ZAR |
Date | 07:39:00, January 23, 2011 CET | From | Federal Republican Party (ZC) | To | Debating the Income tax proposal of December 3064 |
Message | And total revenues specific to the proposed tax bracket was at, $714,969,871,989 ZAR. While revenues from the past sales/luxury/corporate tax rates were at, $550,994,948,450 ZAR. |
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Voting
Vote | Seats | |||
yes |
Total Seats: 522 | |||
no | Total Seats: 0 | |||
abstain | Total Seats: 0 |
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