ConsequencesInc
Member
Prime Minister
Justice Secretary
Finance Secretary
Welfare Secretary
Member of Parliament
ConsequencesInc
Knight
- Joined
- Apr 12, 2025
- Messages
- 224
- Thread Author
- #1
A
BILL
TO
Redistribute Extra Bands
BILL
TO
Redistribute Extra Bands
1 - About this Act
(1) This Act
(a) May be cited as ‘The Redistribution of Extra Bands Allocated to Taxes Etcetera Act’ (the “REBATE Act”).
(b) May be numbered as P.B.07-XXX.
(c) Shall be enacted upon receiving assent from Her Majesty the Queen
(d) Has been authored by Prime Minister ConsequencesInc
(e) Has been co-sponsored by Member of Parliament MattQiu
2 - Definitions
(1) “Business” shall refer to any legal entity defined under the Legal Entity Act that is subject to FI or Corporate Taxes.
(2) “Tax Rebate” shall refer to a reduction of tax through any mechanism detailed in this Act.
(3) “Tax Credit” shall refer to a quantifiable unit of financial benefit provided to a business through a tax rebate in exchange for a condition or action detailed in this Act.
3 - About Tax Rebates
(1) The MoTF shall have the ability to set additional conditions about tax rebates, tax evasion, or modify existing definitions via enacting policy or through a Statutory Instrument to amend this Act through Negative Procedure as defined by the Statutory Instruments Act.
(a) Statutory Instruments shall not modify §4 or 5 of this Act.
Any tax rebate shall be processed through a refund by the MoTF upon approval by the Minister of Trade and Finance or any person authorised by the Minister to exercise such authority.4 - Amendments to A.P. 00-007 | Revenue Act
(1) Section 6 - Financial Institution Tax shall be amended as follows:
“(1) Financial institutions will be taxed monthly based on one of the following:
(a) on their monthly reported profit.
(b) on a percentage of their total business balance
(c) on another measure as described in §6(3) of this Act.
(2) [...]
(3) The Financial Institution Taxation Rate shall be calculated by whichever one of the following is greater:
(a) 10% of the Institution’s monthly profits
(b) 0.75% of the Institution’s End of Month in-game balance
(c) A Shareholder Equity Tax, calculated as 0.75% 0.5% of the greater of the following:
(i) Total par value of all outstanding shares of the Institution not owned by the Institution and Institution owner
(ii) Total current market value of all outstanding shares of the Institution not owned by the Institution and Institution owner.
(d) 0.25% of an Institution's Total Assets.”
(2) Section 8 - Powers of the Ministry of Trade & Finance shall be amended as follows:
“(3) [...]
(b) Exemption Verification. The Ministry may verify the eligibility of deposit-taking financial institutions for taxation exemptions as outlined in Section 11 12. This includes assessing whether institutions meet the necessary requirements and, if necessary, revoking exemptions for non-compliance.”
(3) Section 12 - Tax Exemptions shall be amended as follows:
“ (2) [...]
(3) FI and Corporate Taxes may be reduced by the following Tax Credits:
(a) Alexandrian Employer Tax Credit: Any Business who employs qualifying services from an individual while meeting the requirements in §12(4) of this act, and gains reasonable value from that employment shall qualify for a tax credit.
(b) Alexandrian Buyer Tax Credit: Any Business who buys qualifying physical goods from other businesses or in individual while meeting the requirements in §12(4) of this act shall qualify for a tax credit.
(c) Alexandrian Investor Tax Credit: Any Business who invests in other businesses or gives loans to individuals while meeting the requirements in §12(4) of act shall qualify for a tax credit.
(4) Tax Credit Qualifications: The following rules apply to claiming tax credits:(a) For All Tax Credits: All services, goods or investments purchased cannot be:
(i) From an Owner or Co-owner, or to any particular individual or business who holds a 30% or greater stake in the Business claiming the tax credit itself.
(ii) From a business or other venture that the claiming Company’s owner has a 30% or greater stake in.
(iii) Purchased at a price greater than 35% than the current fair market value, as determined by the most recent sale and/or lowest price available for the good/service on the open market.
(iv) Done in such a way that the Business claiming the tax credit gets their money returned to them in order to defraud the tax credit process.
(v) A bank deposit or any non-Government interest-bearing investment vehicle or loan that makes less than 1% interest a month.
(b) For the Alexandrian Employer Tax Credit:
(i) The Business qualifying for the Tax Credit shall provide proof of services rendered and work done by the employee or contractor to the company.
(c) For the Alexandrian Investor Tax Credit:
(i) The Business qualifying for the Tax Credit shall provide proof of investment in a company and show that their ownership was less than 30% before investing.
(d) Minimum Spending Requirement: The Business claiming for the Tax Credit shall prove they spent, at a bare minimum, the greatest of the following towards each specific tax credit they wish to claim:
(a) 30% of their original total tax for the month.
(b) 2% of their total cash assets, including in-game balance and bank deposits
(c) 0.2% of their total assets.
(e) All businesses who apply for a tax credit agree to file a monthly balance sheet statement with the Ministry of Trade and Finance and to allow the Ministry of Trade and Finance to have access to their books, the transaction records of the business and any Owner or Co-Owner of the business to check for qualification and prevent fraud.
(f) All businesses who apply for a tax credit also agree to allow the Ministry of Trade and Finance to query Financial Institutions to confirm the presence of an account or account balances.
(5) Tax Credit Claiming: A company may claim up to two tax credits listed in §12(3) of this act. The following are the benefits of tax credits to a company:(a) One Tax Credit: Rebate of 17.5% of total tax for the month.
(b) Two Tax Credits: Rebate of 35% of total tax for the month, or reduction to 2nd highest FI tax rate for an FI under §6(3) of this act.“
(4) Section 13 - Statutory Instruments shall be amended as follows:
“(1) Pursuant to 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 through Affirmative Procedure for the purposes of modifying the tax code.
(a) §4- Balance Taxes
(b) §5 - Chestshop Sales Tax
(c) §6 - Financial Institution Tax
(d) §10 - Property Tax
(e) §11 - Prune Tax
(f) §12 - Tax Exemptions“
5 - Amendments to A.P. 04-020 | Criminal Code Act
(1) The following shall be amended to the end of §10 - Offenses Against the State and Public Order:
“(23) Tax Fraud - A player is guilty of tax fraud if they negligently fail to pay tax duly owed to the Kingdom of Alexandria in one or more of the following circumstances listed in subsection (a):
(a) Filing incorrect or misleading information to the MoTF that significantly reduced their tax liability; Falsely claiming a tax credit or rebate they didn’t qualify for;
(b) Offense Type: Summary
(c) Privately Prosecutable: No
(d) Minimum Penalty: Restitution of outstanding tax debt via fine
(e) Maximum Penalty: 10 Penalty Units fine + 5 minutes in jail + Restitution of outstanding tax debt via fine”
6 - Snitches Get Riches Policy
(1) The MoTF shall pay any particular individual who provides a tip or evidence regarding possible Tax Fraud or Evasion that leads to a successful prosecution 25% of the total fine and/or tax clawed back from said prosecution or £350, whichever is greater.
7 - Tax Holiday
(1) All FI Taxes for the month of October of 2026 shall be waived as the FI tax system and rebates are developed. This does not absolve FI’s of their required monthly filings.
8 - Severability
(1) The provisions of this act are severable. Should one part of it be declared unconstitutional, it shall not affect the parts which remain.