Bill: Proposed Amendment to the Taxation Act

[Anthony_org]

Author(s): MP Anthony_org, MP Aeronox
Type: Amendment to an Act of Parliament

A
Bill
To
Amend the Taxation Act​

Preamble:
Sales tax negatively harms businesses that run on razor thin margins, This makes it harder for new players to go into business and compete with established Competitors. To make up for lost income this bill replaces the current property tax system with a formula that consistently raises the property tax with a set formula.

1. Short Title and Enactment
(a) This Act shall be referred to as the “Amendment to the Taxation Act"
(b) This Amendment was authored by Anthony Org.
(c) This Amendment comes into force immediately upon passage.

2. Amendments
Section 6 of the Taxation Act shall be amended as follows:

6. Property Tax
(a) The Property Tax rate is administered every 24 hours for every citizen and business owned
plot.
(b) The following tax rates shall apply for the given values:
(c) 1 plot : 0$
(d) 2 plots 15$
(e) 3 plots 20$
(f) 4 plots 40$
(g) 5 Plots 50$
(h) 6 plots 60$
(i) 7 plots 80 $
(j) 8 plots 90$
(k) 9: plots 110$
(l) 10: 150$
(m)11: 160 $
(n.) 12: 180$
(o)13: 200$
(p) 14: 230 $
(q) 15: 260$
(r) 16: 290 $
(s) 17: 310$
(t) 18: 340$
(u) 19: 370$
(v) 20: 400 $
(w) Any number of plots above 20 will be taxed at 600$ per 24 hours.
(b) The Following tax rate shall apply:
(i) -10.75+10x+0.75x² where x is equal to amount of plots owned.

Section 7 of the Taxation Act shall be amended as follows:

7. Sales Tax
(a) All sales from chestshops will be taxed at 2% 0%