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Model Economy: Difference between revisions
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In conjunction with the fundamental conceptual changes in the economy, taxation under the Model Economy would be revised. The original Model Economy Act called for the total repeal of the [[Royal and Provincial Tax Act of 2020]] and other national taxes and replacing it with a simplified tax structure with a {{wp|land value tax}} and national {{wp|value added tax}} while replacing a number of fees and dues from government licenses and other activities with a single "public activity fee" of ₮220. The two taxes and single fee, along with various import dues and customs, are thought by Model Economists to provide sufficient revenue for the functioning of the state, a claim which has proven extremely controversial. The Act did not contemplate the types of taxes that the [[Government_of_Urcea#Subdivisions|government subdivisions]] would levy, as the legislation's authors argued it was an issue of home rule, although in the intervening years Model Economists have been significantly divided on whether or not tax simplification should apply to lower governments as well or if lower governments should be able to tax at all. | In conjunction with the fundamental conceptual changes in the economy, taxation under the Model Economy would be revised. The original Model Economy Act called for the total repeal of the [[Royal and Provincial Tax Act of 2020]] and other national taxes and replacing it with a simplified tax structure with a {{wp|land value tax}} and national {{wp|value added tax}} while replacing a number of fees and dues from government licenses and other activities with a single "public activity fee" of ₮220. The two taxes and single fee, along with various import dues and customs, are thought by Model Economists to provide sufficient revenue for the functioning of the state, a claim which has proven extremely controversial. The Act did not contemplate the types of taxes that the [[Government_of_Urcea#Subdivisions|government subdivisions]] would levy, as the legislation's authors argued it was an issue of home rule, although in the intervening years Model Economists have been significantly divided on whether or not tax simplification should apply to lower governments as well or if lower governments should be able to tax at all. | ||
In [[2029]], the [[Concilium Daoni]] passed and the [[Procurator]] signed the "Pilot Economy Act", legislation which implemented the incentives envisioned by the Model Economy Act without changes to the tax law. It represents the first enactment of the Model Economy system within [[Urcea]]. Unlike the original Act, the Pilot Economy Act is designed to repeal itself in 2033, though with existing firms unchanged by the repeal of the law. Following the repeal of the law, a full study on economic impacts is to be conducted and a report returned to the Concilium Daoni by no later than [[2035]]. | |||
[[Category: Politics of Urcea]] | [[Category: Politics of Urcea]] | ||
[[Category:IXWB]] | [[Category:IXWB]] | ||