Bill: Draft P.B.04-XXX | Tax Burden Reduction Act

[PhillinDeBlanc]

A
Bill
To
Adopt a Tax Bracket​

1 - Short Title and Enactment
(1) This Act
(a) may be cited as the ‘Tax Burden Reduction Act’.
(b) may be numbered as P.B.04-XXX.
(c) shall be enacted upon being publicly assented.
(d) has been authored by Minister of Foreign Affairs, PhillinDeBlanc.
(e) has been co-sponsored by Minister of Welfare, JustLegendMilk.


2 - Amendments to P.B.00-009 | Revenue Act
[...]
4 - Balance Taxes
(1) All personal and corporate balances shall be taxed at a flat rate of 1% weekly. All personal and corporate balances shall be taxed at a weekly rate in accordance with the tax schedule below:

Spoiler: Tax Schedule

Balance	Tax Rate
>£800	0.25%
£800-£5,000	0.5%
<£5,000	1%

[...]

14 - Statutory Instrument
(1) Pursuant P.B.03-006 | Statutory Instruments Act Parliament hereby authorizes the Minister of Trade and Finance to create a Statutory Instrument to administer changes to the following sections of this act:
(a) §4- Balance Taxes
(b) §5 - Chestshop Sales Tax
(c) §6 - Financial Institution Tax
(d) §10 - Property Tax
(e) §11 - Prune Tax

 

[PhillinDeBlanc]

IGNITE
Through Their Member of Parliament PhillinDeBlanc
Moves to Pass
Tax Burden Reduction Act​

Parliament notes:
(1) For far too long, Alexandria’s poor have had to suffer the same tax burden as Alexandria’s rich. No longer shall this be the case. Every party currently here today ran on the promise of lowering the tax burden on those who are without. Up until now it has been nothing but lip service, that stops today.

Based on this, Parliament decides:
(1) To adopt a tax bracket system, lowering taxes on the poor.

To fulfill this, Parliament projects the following expenses:
(1) ~£10,000 in lost tax revenue.

Further, Parliament projects the following administrative efforts:
(1) The Minister of Trade and Finance shall need to create an S.I. in order to administer changes to the tax code.

To implement the above, Parliament passes:

A
Bill
To
Adopt a Tax Bracket​

1 - Short Title and Enactment
(1) This Act
(a) may be cited as the ‘Tax Burden Reduction Act’.
(b) may be numbered as P.B.04-XXX.
(c) shall be enacted upon being publicly assented.
(d) has been authored by Minister of Foreign Affairs, PhillinDeBlanc.
(e) has been co-sponsored by Minister of Welfare, JustLegendMilk.


2 - Amendments to P.B.00-009 | Revenue Act
[...]
4 - Balance Taxes
(1) All personal and corporate balances shall be taxed at a flat rate of 1% weekly. All personal and corporate balances shall be taxed at a weekly rate in accordance with the tax schedule below:

Spoiler: Tax Schedule

Balance	Tax Rate
>£800	0.25%
£800-£5,000	0.5%
<£5,000	1%

[...]

14 - Statutory Instrument
(1) Pursuant P.B.03-006 | Statutory Instruments Act Parliament hereby authorizes the Minister of Trade and Finance to create a Statutory Instrument to administer changes to the following sections of this act:
(a) §4- Balance Taxes
(b) §5 - Chestshop Sales Tax
(c) §6 - Financial Institution Tax
(d) §10 - Property Tax
(e) §11 - Prune Tax