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Bill: BUDGET 3773 - Revenue Proposal
Details
Submitted by[?]: Likaton Unity Party
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 3774
Description[?]:
| The Likaton Vieniba propose to adjust the government's income tax policy to better address the economic situation of the The Federal Republic of Likatonia. |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 0
Current: 15
Proposed: 14
Article 2
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 0
Current: 3
Proposed: 7
Article 3
Proposal[?] to change Sales tax on luxury goods.
Old value:: 50
Current: 12
Proposed: 21
Article 4
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 LIK | 2% | 3,445,000,000 LIK |
| > 3,000 LIK | 20% | 74,586,000,000 LIK |
| > 10,000 LIK | 30% | 110,147,000,000 LIK |
| > 31,000 LIK | 50% | 16,650,000,000 LIK | Total | 204,828,000,000 LIK |
Debate
These messages have been posted to debate on this bill:
| Date | 21:22:47, December 14, 2014 CET | From | Likaton Unity Party | To | Debating the BUDGET 3773 - Revenue Proposal |
| Message | We propose the following revenue change for the Federal Republic of Likatonia. The Likaton Vieniba are acting as the representatives of the Ministry of Finance, which will soon be made official via cabinet shuffle. The proposed tax changes simply our system and create an equitable range of taxation that changes for our lower, middle and upper classes. In addition we expand the variety of our revenue streams by including a new corporate and essential goods taxation. This budget will make Likatonia a stronger, more economically stable nation. Considering the sensitive nature of implementing such changes before speculation causes irreversible damage to the market, we will have this bill up for debate for only 24 hours. An extension may be recommended by any member of the chamber. LV Yields. ((24 HOURS FOR DEBATE THEN VOTE)) |
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Voting
| Vote | Seats | ||
| yes |
Total Seats: 250 | ||
| no | Total Seats: 0 | ||
| abstain | Total Seats: 0 |
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