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Bill: Bill HLP-4: Corporations Tax
Details
Submitted by[?]: Republican Party of Hutori
Status[?]: defeated
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: April 4805
Description[?]:
| A bill to levy a corporations tax on all companies. Section 1) Companies shall be taxed at a rate of 20% of net profits, after all deductions have been made Section 1.1) Companies defined as small businesses shall be taxed at a rate of 15% Section 1.2) A small business is defined as a company which has a revenue of less than $20 million HLR per year |
Proposals
Article 1
Proposal[?] to change Tax percentage of the profit made by corporations.
Old value:: 0
Current: 9
Proposed: 20
Debate
These messages have been posted to debate on this bill:
| Date | 04:16:19, August 21, 2020 CET | From | Republican Party of Hutori | To | Debating the Bill HLP-4: Corporations Tax |
| Message | Mr Speaker, For as long as I can remember, corporations have contributed no tax in Hutori. Our corporations have some of the highest profits in the world, yet do we see them give back to their communities? Do we see them increase wages for their staff? Do we see them provide the necessary healthcare and retirement benefits for their staff? No, all we see is the fat cat CEO's getting richer and richer, mean while everyday Hutorians continue to work harder for the same wages. Everyday Hutorians pay tax, so we can have our vital healthcare and education services, Hutorians pay tax so they can go to sleep at night knowing they are safe from crime, yet Corporations utilise these exact same services and do not pay tax on them.. the playing field must be levelled. Corporations need to pay their fair share in taxes. Upon the passage of this bill we will aim to lower the income tax rate for low and middle income families. Angela McCrae Minister for Trade & Industry Senator for Dov West |
| Date | 06:03:55, August 21, 2020 CET | From | Hutori Party | To | Debating the Bill HLP-4: Corporations Tax |
| Message | Mr Speaker, With all due respect for the honourable Minister, she is simply wrong in her suggestion that corporations do not give back to Hutori. Most of Hutori's top companies and wealthiest citizens actually donate large portions of their wealth to charities or even have charities of their own. Hutori has had no corporate tax for the better part of the last 5 centuries, and while this policy has been in place, Hutorians have reaped the benefits of the increased business being done here in Hutori instead of in other markets. Those benefits include high paying jobs, community projects, and much much more. Frankly Mr. Speaker, its a shame that the Minister responsible for developing Hutori's economy actively wants to shut it down. Michael Hill Senator for Acton Danforth Leader of the Conservative Party |
| Date | 08:15:38, August 21, 2020 CET | From | Republican Party of Hutori | To | Debating the Bill HLP-4: Corporations Tax |
| Message | Mr Speaker, I reject the assessment of the honourable Senator for Acton Danforth. An anecdotal statement regarding one individual citizen or company donating some of their wealth does not represent companies as a whole. The reality is that by being one of the few nations to not have a corporations tax, we have lost 5 centuries of investment into our communities that could have occurred otherwise. We are not here to shut the economy down, we are calling for companies to pay their fair share so we can have liveable thriving communities with services for all. Angela McCrae Minister for Trade & Industry Senator for Dov West |
| Date | 08:51:22, August 21, 2020 CET | From | National Party of Hutori | To | Debating the Bill HLP-4: Corporations Tax |
| Message | Mr Speaker, These large corporations have ripped away hard work from the farmers and give nothing in return, such is unacceptable. No donation amount will fix the dying fields as these corporations continue to buy up the valuable water. Joh Bjelke-Petersen Leader of the National Party |
| Date | 10:20:17, August 21, 2020 CET | From | Hutorian Unity Party | To | Debating the Bill HLP-4: Corporations Tax |
| Message | Mt Speaker, Perhaps the Honourable Minister of Trade & Industry has set a tax rate that is too extreme. 20% will take away a fifth of every company's income, which may not completely destroy our economy, but will certainly cause many major financial issues for years to come. Perhaps we may achieve a compromise of a 10% corporation tax? The companies of Hutori are doing fantastic financially, so a tax as low as 5% will still output a good amount of revenue. The Unity Party ultimately does not support a corporate tax, but we may vote positively if the rate is 10% or lower. Frederick Morgan, Leader of the Unity Party |
| Date | 21:51:42, August 21, 2020 CET | From | Hutori Party | To | Debating the Bill HLP-4: Corporations Tax |
| Message | Mr Speaker, Like my colleague in the Unity Party, we would be open to talking about a corporate tax rate, if the proposed rate was reasonable and competitive with other large economies across Terra. A twenty percent tax rate on corporations will drive business out of the country and result in millions of Hutorians losing their jobs. Does the minister think the tax revenue from the companies that do stay in Hutori will be enough to cover the inevitable rise in unemployment benefits that the government will need to pay out to citizens who lose their jobs due to this policy? Michael Hill Senator for Acton Danforth Leader of the Conservative Party |
| Date | 11:09:12, August 23, 2020 CET | From | Hutorian Unity Party | To | Debating the Bill HLP-4: Corporations Tax |
| Message | Mr Speaker, It seems that this bill has been put into voting but the honourable minister of Trade & Industry has not decreased the proposed tax rate to something more reasonable as I have discussed, such as 10%. Therefore, the Unity Party will not be supporting this bill. We advise all parties to vote against this introduction of an absurd corporate tax, as it would certainly cause many companies leaving the country in favour of other nations with more lenient tax rates, meaning many Hutorian workers will be left unemployed. And like my colleague in the Conservative Party has stated, there will be a rise in unemployment benefits that the government will need to pay. This bill may appease non-company workers (such as farmers), but it will anger all company workers, which are the larger portion of our population. Frederick Morgan, Leader of the Unity Party |
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Voting
| Vote | Seats | |||
| yes | Total Seats: 92 | |||
| no |
Total Seats: 129 | |||
| abstain | Total Seats: 184 |
| Random fact: Did you know you can change the official name of your nation? All you need to do is draw up a new name that is in accordance with the Nation Renaming Guide, pass a bill proposing the name change with a two-thirds majority and then post a request to Moderation on the "Renaming Requests" thread. You can change city and region names in this way too. |
| Random quote: "The best politics is right action." - Mahatma Gandhi |