Government Income Combined Act of 1867

Government Income Combined Act of 1867

ACTION by the Grand Senate in the year ####, ## AYE, ## NAY, ## WITHHELD This combined act shall balance the budget of the government, allowing for increased budget management and the reduction of government borrowing.

Article One

 * 1.1 The flat income tax of the income of all persons working or living within the United Kingdom of Thegye is hereby enacted to be 35 per cent of earned income.
 * 1.1.1 This tax shall be administered by the appropriate authorities, payable in thaler.

Article One

 * 1.1 The property tax of all owned property assessed at the value equal to or exceeding 50 thaler shall be taxed at 25 per cent of the assessed value.
 * 1.1.1 This tax shall be administered by the appropriate authorities, payable in thaler.
 * 1.2 Property that is used for the sole purpose of agriculture will be taxed at 20 per cent of the assessed value.
 * 1.3 Property that is used for the sole purpose of charity, religion, or education will be taxed at 15per cent of the assessed value.
 * 1.4 Property owned by Their Majesties, the Diarchs of the United Kingdom of Thegye, shall not be taxed.

Article One

 * 1.1 An inheretance tax shall be established, taxing any property or money inhereted by any person working or living within the United Kingdom of Thegye.
 * 1.1.1 This tax shall be set at 30 per cent of any property or money inhereted by any person assessed at a value equal to or exceeding 100 thaler.
 * 1.2 Any inheritance by Their Majesties, the Diarchs of the United Kingdom of Thegye, shall not be taxed.

Authored by MEMBER, Senator for CONSTITUENCY, PARTY (optional)