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Bill: Value Added Excise and Corporation Tax (VEC) Act
Details
Submitted by[?]: Unity Labour Party
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: September 4226
Description[?]:
| Mr Speaker we in the ministry of finance believe that it's best to find a equitable position in the tax rates that are best progressive so as to both increase state revenue to fund projects and policy initiatives of the government while at the same time encourage spending from consumers. This bill seeks to project an economic growth of 3% and government surplus as lowered excise taxes will increase consumer spending and while increased taxes for corporations so that the middle class won't be heavily burdened with taxes. |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 38
Current: 5
Proposed: 45
Article 2
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 10
Current: 0
Proposed: 17
Article 3
Proposal[?] to change Sales tax on luxury goods.
Old value:: 46
Current: 25
Proposed: 35
Debate
These messages have been posted to debate on this bill:
| Date | 14:56:47, June 13, 2017 CET | From | Unity Labour Party | To | Debating the Value Added Excise and Corporation Tax (VEC) Act |
| Message | It is my hope Mr Speaker that all parties can compromise on this issue which will see the tax burden on the middle class lowered while taxes for the rich will increase so as to increase government revenue while increasing consumer spending. |
| Date | 16:34:56, June 13, 2017 CET | From | Central Unionist Party | To | Debating the Value Added Excise and Corporation Tax (VEC) Act |
| Message | Mr Speaker, can my Honourable Friend take in to account the potential job losses and decrease in investment from businesses due to the increase in Corporation Tax to it's highest ever level. We believe that a large increase will see more benefits from operating within our neighbours instead. |
| Date | 12:32:43, June 14, 2017 CET | From | Wind of Change | To | Debating the Value Added Excise and Corporation Tax (VEC) Act |
| Message | We don't understand why you want to reduce the luxury tax, if a person can afford buying something for several thousands of MCR, they could afford buying it for a little bit more of cost. We think that an incredible increase in Corporation taxes would deteriorate our economy. We would prefer a lower increase in the essential goods tax and in the corporations one without decreasing the luxury goods tax. |
| Date | 13:10:47, June 14, 2017 CET | From | Unity Labour Party | To | Debating the Value Added Excise and Corporation Tax (VEC) Act |
| Message | We want to increase the standard of living for the poor and middle class. Thus an increase in luxury tax will hurt them as well. Had I had my own way, I would have increased taxes on essential goods and lessen taxes for luxury goods and corporations but after consultations we went this route. |
| Date | 16:44:45, June 14, 2017 CET | From | Central Unionist Party | To | Debating the Value Added Excise and Corporation Tax (VEC) Act |
| Message | My Honourable friend, perhaps looking to increase the tax for the higher earners slightly rather than Corporations could be more beneficial. To hike to nearly half of every MCR made will lead to businesses leaving to set up in our neighbours. |
| Date | 17:30:19, June 14, 2017 CET | From | Wind of Change | To | Debating the Value Added Excise and Corporation Tax (VEC) Act |
| Message | Yes, because the poor and middle class will buy things as expensive food or cars without money. If we want to create a strong middle class and get a better life for the poorest people we should reduce the non essential goods tax so that their purchasing power will be increased. |
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Voting
| Vote | Seats | |||
| yes |
Total Seats: 194 | |||
| no | Total Seats: 73 | |||
| abstain |
Total Seats: 183 |
| Random fact: In general, role-play requires the consent of all players. |
| Random quote: "The superior man is distressed by the limitations of his ability; he is not distressed by the fact that men do not recognize the ability that he has." - Confucius |