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Bill: Grand Tax Reform
Details
Submitted by[?]: Ordine, Fede e Famiglia
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: January 4733
Description[?]:
| Hon. Members of the Assembly, Although, we are in a transition situation that doesn't mean we should face the economic situation. Therefore, I would like to discuss this tax reform which will stimulatie the economy by increasing consumer spending, investments and simpify the tax system (less brackets and a general tax reduction). When my bill passed your House, i will discuss a fresh new budget with you, Thank you. Mariana Vranetta Minister of Finance |
Proposals
Article 1
Proposal[?] to change Sales tax on essential goods such as food and non-luxury clothing.
Old value:: 7
Current: 1
Proposed: 2
Article 2
Proposal[?] to change Sales tax on luxury goods.
Old value:: 38
Current: 15
Proposed: 25
Article 3
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 23
Current: 8
Proposed: 20
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 |
| > 100 LIS | 11% | 30,642,000,000 LIS |
| > 5,000 LIS | 20% | 45,089,000,000 LIS |
| > 12,000 LIS | 40% | 42,279,000,000 LIS | Total | 118,010,000,000 LIS |
Debate
These messages have been posted to debate on this bill:
| Date | 08:18:51, March 26, 2020 CET | From | Ordine, Fede e Famiglia | To | Debating the Grand Tax Reform |
| Message | Luigi Franca, (MP), spokesman for Public Finances: This has the full support of the OFF fraction. |
| Date | 17:35:42, March 26, 2020 CET | From | Blocco della Sinistra | To | Debating the Grand Tax Reform |
| Message | People who earn only 4,999 LIS would have to pay almost 1,000 of that money to the stay, meaning they would only have 4,000 LIS left every month, while the richest people will keep more than 7,000 LIS every month (thinking about the lowest bracket), meaning it will be again the poorest one the ones that will support society as a whole at risk of falling into poverty. All of this together with a decrease in the profit from corporations and the tax on luxury goods. Suspicious that the rich, once again, receive the favor of some parties |
| Date | 07:49:01, March 27, 2020 CET | From | Ordine, Fede e Famiglia | To | Debating the Grand Tax Reform |
| Message | Luigi Franca, (MP), spokesman for Public Finances: When you earn 4999 LIS you pay 11%x (4999-100LIS) 539 on taxes. Probably you are using a socialist calculator [laughter from the OFF benches] |
| Date | 13:22:32, March 27, 2020 CET | From | Ordine, Fede e Famiglia | To | Debating the Grand Tax Reform |
| Message | Mariana Vranetta, Minister of Finance: I would like to add that the spending power of the people will be increased considerably by reducing both salestaxes. |
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Voting
| Vote | Seats | ||||
| yes |
Total Seats: 388 | ||||
| no |
Total Seats: 293 | ||||
| abstain | Total Seats: 0 |
| Random fact: Alduria, Rildanor and Lourenne all have Canrilaise (French) cultures. |
| Random quote: "The only place where democracy comes before work is in the dictionary." - Ralph Nader |