Fiscal policy of Packilvania: Difference between revisions
no edit summary
No edit summary Tags: Mobile edit Mobile web edit Visual edit |
No edit summary Tags: Mobile edit Mobile web edit Visual edit |
||
Line 21:
Personal income tax is payable on revenue generated by companies with exemptions of up to 24,000 KRB for natural persons and non for corporations. Taxes are normally paid as a percentage of taxable income. Through reforms in the 2010s, the tax system has been greatly simplified (in part to make it easier to detect tax fraud and evasion and make it easier for the working class to file and pay taxes). Exemptions for capital gains tax fall away for people whose income exceeds 30,000 KRB per year. Dividends income is charged to natural persons with exemptions of up to 30,000 KRB for people earning up to 30,000 KRB. Taxable income liability for corporations can be reduced through reinvesting the funds into the business in the form of capital goods, training for employees, or filing for patents. Costs from fines are not tax exempt.
Government and non-profit entities and their employees are exempt from certain taxes. As such, the some Princes and Princesses of the [[Bedonite dynasty]] as well as the [[Crown Prince of Packilvania]], the [[Sultana of Packilvania|Sultana Consort of Packilvania]] and the [[Sultan of Packilvania|Sultan]] receive certain tax advantages as being part of the [[Imperial Court of Packilvania]]. Members of the [[Law enforcement in Packilvania|law enforcement of Packilvania]], the [[Packilvanian Armed Forces]] and the [[intelligence agencies of Packilvania]], the [[Magisterium of Paxism]], the veterans and families of ex members of the [[Carriers of Mercy]], and the [[judiciary of Packilvania]] receive some tax advantages.
=== Transaction tax ===
| |||