Act of Parliament Taxation Act

[RandomIntruder]

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 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.

 

[Kingdom of Regalis]

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