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Bill: Tax Reform of November 4778
Details
Submitted by[?]: PĆ”tria Unida š°
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: July 4779
Description[?]:
| We propose new brackets for Income Tax in order to exempt incomes up to 5000 TUK (only 3000 TUK before) and raise taxes for the rich. Our current setup disregards the fact most Tukarese taxpayers actually make more than 51000 TUK, on average. Since expected revenues are greatly increased, we also propose eliminating corporate taxes and reducing consumer taxes, which could be benefitial to our economy and its competitiveness. We also expect to turn our current deficit to a surplus. |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 30
Current: 12
Proposed: 0
Article 2
Proposal[?] to change Sales tax on luxury goods.
Old value:: 33
Current: 27
Proposed: 25
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 |
| > 5,000 TUK | 5% | 14,080,000,000 TUK |
| > 10,000 TUK | 10% | 28,160,000,000 TUK |
| > 15,000 TUK | 15% | 42,240,000,000 TUK |
| > 20,000 TUK | 20% | 56,320,000,000 TUK |
| > 25,000 TUK | 25% | 70,400,000,000 TUK |
| > 30,000 TUK | 30% | 84,480,000,000 TUK |
| > 35,000 TUK | 35% | 98,560,000,000 TUK |
| > 40,000 TUK | 40% | 112,640,000,000 TUK |
| > 45,000 TUK | 45% | 126,720,000,000 TUK |
| > 50,000 TUK | 50% | 693,077,000,000 TUK |
| > 75,000 TUK | 52% | 367,632,000,000 TUK |
| > 90,000 TUK | 55% | 345,344,000,000 TUK |
| > 105,000 TUK | 57% | 297,328,000,000 TUK |
| > 120,000 TUK | 60% | 253,696,000,000 TUK |
| > 135,000 TUK | 62% | 224,486,000,000 TUK |
| > 150,000 TUK | 65% | 350,431,000,000 TUK |
| > 175,000 TUK | 67% | 168,799,000,000 TUK |
| > 190,000 TUK | 70% | 146,343,000,000 TUK |
| > 205,000 TUK | 72% | 141,049,000,000 TUK |
| > 220,000 TUK | 75% | 818,103,000,000 TUK |
| > 440,000 TUK | 80% | 142,757,000,000 TUK | Total | 4,582,645,000,000 TUK |
Debate
These messages have been posted to debate on this bill:
subscribe to this discussion - unsubscribeVoting
| Vote | Seats | ||
| yes |
Total Seats: 114 | ||
| no | Total Seats: 111 | ||
| abstain | Total Seats: 0 |
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