Act of Parliament Axe The Tax Act

[ChAkselsen1450]

A bill to establish the Axe the tax act

Author: Chris West MP
Type: Act of Parliament

Preamble: This bill seeks to ovverhaul the current taxes of the Azalea isles. To promote industry growth and welcome new citizens. While putting the burden of tax from balances to properties to spread land more evenly amoung citizens.

The Taxation Act will be repealed.

Reasons:
(1) Lower tax on working capital
(2) Promote better usage of plots
(3) Promote even spread of land between citizens and ensure the continued availability of plots to new citizens now and in the future
(4) Introduce sales tax & bank tax


Changes:
This bill will be known as the Axe the tax Act or ATTA
This bill will be enacted immediately upon passage and subsequent assent from the queen


1 Personal Balance Tax
(1) The Personal Balance Tax rate is administered every 7 days for every citizen’s balance.
(2) The following tax rates shall apply for the given values:
(3) < $ 6000 0% tax
(4) $6000 - $50,000: 0.3%
(5) $50,001 - $150,000: 0.40%
(6) $150,001 - $299,999: 0.55%
(7) $300,000 - $499,999: 1%
(8) $500,000 - $1,000,000: 1.25%
(9) $1,000,001 - $10,000,000: 1.5%

2 Business Balance Tax
(1) The Business Balance Tax rate is administered every 7 days for every company’s
balance.
(2) < $6000 0.0%
(3) $6000 - $50,000: 0.3%
(4) $50,001 - $150,000: 0.40%
(5) $150,001 - $299,999: 0.55%
(6) $300,000 - $499,999: 1%
(7) $500,000 - $1,000,000: 1.25%
(8) $1,000,001 - $10,000,000: 1.5%


3 Property Tax
(1) The Property Tax rate is administered every 24 hours for every citizen’s owned
plots.
(2) The following tax rates shall apply for the given values:
(3) 1 plot : 0$
(4) 2 plots 15$
(5) 3 plots 20$
(6) 4 plots 40$
(7) 5 Plots 50$
(8) 6 plots 60$
(9) 7 plots 80 $
(10) 8 plots 90$
(11) 9: plots 110$
(12) 10: 150$
(13)11: 160 $
(14) 12: 180$
(15)13: 200$
(16) 14: 230 $
(17) 15: 260$
(18) 16: 290 $
(19) 17: 310$
(20) 18: 340$
(21) 19: 370$
(22) 20: 400 $
(23) Any number of plot above 20 will be taxed at 600$ per 24 hours.

3 Property Tax - Companies
(1) The Property Tax rate is administered every 24 hours for every citizen’s owned
plots.
(2) The following tax rates shall apply for the given values:
(3) 1 plot : 0$
(4) 2 plots 15$
(5) 3 plots 20$
(6) 4 plots 40$
(7) 5 Plots 50$
(8) 6 plots 60$
(9) 7 plots 80 $
(10) 8 plots 90$
(11) 9: plots 110$
(12) 10: 150$
(13)11: 160 $
(14) 12: 180$
(15)13: 200$
(16) 14: 230 $
(17) 15: 260$
(18) 16: 290 $
(19) 17: 310$
(20) 18: 340$
(21) 19: 370$
(22) 20: 400 $
(23) Any number of plot above 20 will be taxed at 600$ per 24 hours.

4 sales tax
(1) All sales from chestshops will be taxed at 1.5%

5 Bank tax
(1) Transactions on sub accounts will be taxed at 0.25%

 

[Kingdom of Regalis]

"By the authority invested the in Kingdom of Regalis, and in the loyal people of Azalea Isles, I hereby declare the Axe the Tax Act to be law in the Isles, with the full force of enactment."
- Queen Eleanora of the Kingdom of Regalis