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- Jun 23, 2024
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- #1
Author: Random Intruder MP
Sponsor: N/A
Type: Act of Parliament
A
BILL
TO
LEGISLATE TAXATION FOR THE ISLES
Preamble: The citizens of the Isles have been paying taxes to the Crown at an unknown rate. This bill aims to create transparency and legislative power to control the taxation rates of the Isles. These are not new taxes but rather the current taxes already implemented.
1. Personal Balance Tax
(a) The Property Tax rate is administered every 24 hours for every citizen’s owned
Enactment: This Act legislates what is already existent.
Sponsor: N/A
Type: Act of Parliament
A
BILL
TO
LEGISLATE TAXATION FOR THE ISLES
Preamble: The citizens of the Isles have been paying taxes to the Crown at an unknown rate. This bill aims to create transparency and legislative power to control the taxation rates of the Isles. These are not new taxes but rather the current taxes already implemented.
1. Personal Balance Tax
(a) The Personal Balance Tax rate is administered every 7 days for every citizen’s balance.
(b) The following tax rates shall apply for the given values:
(i) < $2,499: 0.0%
(ii) $2,500 - $50,000: 1.0%
(iii) $50,001 - $150,000: 1.25%
(iv) $150,001 - $299,999: 1.5%
(v) $300,000 - $499,999: 1.75%
(vi) $500,000 - $1,000,000: 2.0%
(vii) $1,000,001 - $10,000,000: 2.0%
2. Business Balance Tax(a) The Business Balance Tax rate is administered every 7 days for every company’s
balance.
(b) The following tax rates shall apply for the given values:
(i) < $2,499: 0.0%
(ii) $2,500 - $50,000: 1.0%
(iii) $50,001 - $150,000: 1.25%
(iv) $150,001 - $299,999: 1.5%
(v) $300,000 - $499,999: 1.75%
(vi) $500,000 - $1,000,000: 2.0%
(vii) $1,000,001 - $10,000,000: 2.0%
3. Property Tax(a) The Property Tax rate is administered every 24 hours for every citizen’s owned
plots.
(b) The following tax rates shall apply for the given values:
(i) <3 plots: $0
(ii) 4: 7
(iii) 5: 12
(iv) 6: 18
(v) 7: 25
(vi) 8: 33
(vii) 9: 42
(viii) 10: 52
(viii)11: 63
(ix) 12: 75
(x)13: 88
(xi) 14: 102
(xii) 15: 117
(xiii) 16: 133
(xiv) 17: 150
(xv) 18: 168
(xvi) 19: 187
(xvii) 20: 207
(xviii) 21: 228
(xix) 22: 250
(xx) 23: 283
(xxi) 24: 307
(xxii) 25: 332
(xxiii) 26: 358
(xxiv) 27: 385
(xxv) 28: 413
(xxvi) 29: 442
(xxvii) 30: 472
Enactment: This Act legislates what is already existent.