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by New Lindale » Sun Jul 07, 2019 8:03 pm
by Vienna Eliot » Sun Jul 07, 2019 8:12 pm
New Lindale wrote:Madame Speaker, for the context in terms of the application which the new taxation scheme will apply in full, I request the accesibility to the current taxation scheme in use, and the record of citizen income data, or data pertaining to the percentage of citizens whom earn an income within the various ranges outlined in this bill?
by The Miaphysite Church of Coptic Archism » Sun Jul 07, 2019 8:48 pm
Puertollano wrote:"That corporate tax rate is needlessly high. It will kill local business across St Hilda; and that's my most optimistic point of view. Or, alternatively, there can be tax subsidies for our agribusiness and agricultural sectors. That way we can make sure that our food is locally produced, that we keep our jobs here and that our farmers aren't left in the dark.
Thoughts?"
The Archipelago Territory wrote:“I agree with the honorable member. This bill is a socialist bill, not a liberal one. It tries to control the tax rate by forcing businesses to do things or else pay abnormally high taxes!”
Idzequitch wrote:"First of all, I'm happy to see that our fledgling government is taking rational steps and attempting to find a reasonable tax system for all hard-working Sankta Hildans. I am also pleased to note that the tax rates proposed here are not outrageously high. With that said, I am concerned that the proposed rates are high enough to place a burden on people who have limited means to bear it. In addition, I fear that the rather high proposed corporate tax may have the unintended consequence of stifling our economy and limiting career opportunities for the people of Sankta Hilda.
The people of our great nation work hard, and I think it behooves us, our people and our economy to let our people keep as much of their hard-earned money as possible."
by New Lindale » Sun Jul 07, 2019 9:02 pm
by The Miaphysite Church of Coptic Archism » Sun Jul 07, 2019 9:02 pm
by New Lindale » Sun Jul 07, 2019 9:36 pm
The Miaphysite Church of Coptic Archism wrote:"I should further like, madame speaker, to draw attention to Section 3, Subsections a, b, and c, of this act. The opposition has been absolutely right during question time to raise concerns about this government's plan for social welfare going forwards. The establishment of a negative income tax model is, as I see it, an ideal solution. Those people who find themselves in need can rely on the safety net of a negative income tax rate at the lowest levels, but there is no incentive to stop working permanently. There is no way, in this scheme, for an individual to be punished for earning their own income."
"I do not believe this government has an alternative solution to social welfare, and I have not seen concrete proposals from the opposition either. The Rational Taxation Scheme Act gets it done, Madame Speaker."
by Costa Fierro » Sun Jul 07, 2019 9:54 pm
by Pere Housh Alpha » Sun Jul 07, 2019 10:21 pm
Vienna Eliot wrote:“Debate is now open on the Rational Taxation Scheme Act for 48 hours.”Rational Taxation Scheme Act
Author: Marius Forsman (C-P)
Sponsors: Viktoria Ljungstrand (SLP:R), Lisa Forss (GR), James Penta (GR)
To improve on the system of taxation in Saint Hilda, for the betterment, prosperity, and liberty, for all.
BE IT THEREFORE ENACTED, as follows:
§1 - Amendments
- All existing taxes imposed on Saint Hilda previous to independence shall be abolished.
§2 - Definitions
- Monetary values should be taken as USD, or their equivalent value in any local currency.
- Income, for the sake of corporate taxation, shall be considered as net profit after expenses.
§3 - Income Tax
- There shall be a progressive income tax, including a negative income credit model.
- The tax exemption cutoff shall be at $15,000.
- The income subsidy rate shall be 75%.
- The tax rate for income from $15,000 to $30,000 shall be 20%.
- The tax rate for income from $30,001 to $50,000 shall be 25%.
- The tax rate for income from $50,001 to $100,000 shall be 30%.
- The tax rate for income from $100,000 upwards shall be 40%.
- Income for the sake of this tax includes that of capital gains made from sales during that year.
§4 - Corporate Tax
- The income of corporations shall be taxed at a rate of 40%.
- Corporations with a total income of less than $200,000 shall receive a tax rate reduction of 10%.
- Corporations which move to relying entirely on sustainably generated electricity shall receive a five year tax rate reduction of 10%.
- Corporations which increase their number of employees by at least 50% shall receive a five year tax rate reduction of 10%.
§5 - Excises and Duties
- There shall be a per-unit excise on tobacco products, of $20.
- There shall be a per-unit excise on alcoholic products, of $10.
§6 - Absentee Property Tax
- Residential properties that are uninhabited for more than one half of a year in total shall be subject to a tax of 20% of property value for that year.
- Commercial or industrial properties that are not utilized or rented by owners for more than one half of a year in total shall be subject to a tax of 20% of property value for that year.
- In such cases where properties are shown to be unfit for habitation or use for the aforementioned periods, no such tax shall apply.
§7 - Office of Taxation
- There shall be established an Office of Taxation, with responsibility to organize and enforce the taxes of Saint Hilda.
- The Office of Taxation shall be lead by a Director, appointed by the Cabinet Minister assigned to the responsibility of finances.
- The Office of Taxation shall have the right to hire employees and enter into contracts, and occupy and rent office spaces, independently. The government of Saint Hilda is responsible for accrued expenses.
by Kowani » Sun Jul 07, 2019 10:35 pm
by Pere Housh Alpha » Sun Jul 07, 2019 10:41 pm
Kowani wrote:“A question arises-do we have a currency?”
by The Miaphysite Church of Coptic Archism » Sun Jul 07, 2019 10:47 pm
"I am happy to invite the honorable member to ask his questions, madame speaker."Costa Fierro wrote:"Madam Speak, I rise in support of this act as I believe it goes towards the overarching goal of establishing a new taxation system before the financial year ends. However, I would like to ask the author of the bill two questions."
Pere Housh Alpha wrote:"The corporate tax rate and the income tax rates in this bill is a little high in my opinion and should be lowered. We want to bring businesses to Saint Hilda, not chase them away. I will not support this bill until these changes are made."
by Pere Housh Alpha » Sun Jul 07, 2019 11:02 pm
The Miaphysite Church of Coptic Archism wrote:"Madame Speaker, there have been proposals for a local currency, the use of the Swedish Krona, or the US Dollar. This bill jumps that question entirely by defining levels as equivalent to certain USD values so that we do not proscribe a solution to the currency problem in an otherwise unrelated bill.""I am happy to invite the honorable member to ask his questions, madame speaker."Costa Fierro wrote:"Madam Speak, I rise in support of this act as I believe it goes towards the overarching goal of establishing a new taxation system before the financial year ends. However, I would like to ask the author of the bill two questions."Pere Housh Alpha wrote:"The corporate tax rate and the income tax rates in this bill is a little high in my opinion and should be lowered. We want to bring businesses to Saint Hilda, not chase them away. I will not support this bill until these changes are made."
"Madame Speaker, I respect the honorable member's right to an opinion. Given the fact however, that the member's party (the NPP) has agreed to support this bill as part of our electoral deal, I am curious whether the honorable member plans to break his party whip to vote against this bill?"
by Equitesia » Sun Jul 07, 2019 11:12 pm
by Pere Housh Alpha » Sun Jul 07, 2019 11:32 pm
Equitesia wrote:We need an official currency. I propose the Sankta Hilda Kronor (it's obvious but is the best)
by Kowani » Sun Jul 07, 2019 11:36 pm
by Martune » Sun Jul 07, 2019 11:37 pm
Pere Housh Alpha wrote:The Miaphysite Church of Coptic Archism wrote:"Madame Speaker, there have been proposals for a local currency, the use of the Swedish Krona, or the US Dollar. This bill jumps that question entirely by defining levels as equivalent to certain USD values so that we do not proscribe a solution to the currency problem in an otherwise unrelated bill."
"I am happy to invite the honorable member to ask his questions, madame speaker."
"Madame Speaker, I respect the honorable member's right to an opinion. Given the fact however, that the member's party (the NPP) has agreed to support this bill as part of our electoral deal, I am curious whether the honorable member plans to break his party whip to vote against this bill?"
"If I remember correctly, It isn't mandatory that I have to agree with my party on every thing. More than likely, I will abstain or vote nay when this bill comes to a vote."
by Borovan entered the region as he » Sun Jul 07, 2019 11:37 pm
by Pere Housh Alpha » Sun Jul 07, 2019 11:52 pm
by Martune » Sun Jul 07, 2019 11:54 pm
by Pere Housh Alpha » Mon Jul 08, 2019 12:03 am
Martune wrote:Pere Housh Alpha wrote:Michael leans over to Robin and whispers, "I'm about that but the corporate tax rate is my main concern. Lowering it would encourage foreign businesses to come to our beautiful country."
"My hands are tied, the way it seems is there is no way around this tax scheme. Not unless we ditch C-P, which most likely will not happen. Any threats of amending it will receive a confidence vote. I'm sorry but I have to whip for the bill."
by Martune » Mon Jul 08, 2019 12:08 am
Pere Housh Alpha wrote:Martune wrote:"My hands are tied, the way it seems is there is no way around this tax scheme. Not unless we ditch C-P, which most likely will not happen. Any threats of amending it will receive a confidence vote. I'm sorry but I have to whip for the bill."
Michael frowns in disappointment, "Then I can't support the bill Robin. I'm very sorry."
by Costa Fierro » Mon Jul 08, 2019 12:18 am
The Miaphysite Church of Coptic Archism wrote:"I am happy to invite the honorable member to ask his questions, madame speaker."
by Pere Housh Alpha » Mon Jul 08, 2019 12:19 am
by The Miaphysite Church of Coptic Archism » Mon Jul 08, 2019 12:40 am
Costa Fierro wrote:The Miaphysite Church of Coptic Archism wrote:"I am happy to invite the honorable member to ask his questions, madame speaker."
"In that case, Madam Speaker, I rise to pose these two questions to the Honourable Minister. My first question is does the minister consider a flat tobacco tax appropriate in order to reduce harm and discourage the up take of new tobacco consumers? My second question is the following: has the minister considered making provisions for local taxes outside of central government taxation?"
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