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Taxation in Caphiria: Difference between revisions
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Caphiria's tax system utilizes a base proportional tax on top of using its [[Stratification in Caphiria#Social Class|social stratification system]] for a class-based progressive tax rate. This tax-by-social-class does not apply for every type of tax category, of which there are 6: Income tax, corporate tax, goods and services tax, wealth/financial tax, and property tax, as well as various fees. Caphiria does not have a capital gains tax. | Caphiria's tax system utilizes a base proportional tax on top of using its [[Stratification in Caphiria#Social Class|social stratification system]] for a class-based progressive tax rate. This tax-by-social-class does not apply for every type of tax category, of which there are 6: Income tax, corporate tax, goods and services tax, wealth/financial tax, and property tax, as well as various fees. Caphiria does not have a capital gains tax. | ||
== Income taxes == | == Income taxes == | ||
According to Caphiria's tax code, there are two types of Personal Income Tax. Residential income tax is defined as "any individual (Citizen) living within the Imperium is subject to taxation on all income derived from sources within or outside the Imperium" whereas non-resident is defined as "any individual (Citizen) living abroad more than 183 days shall pay individual income tax only on the income derived or sourced from the Imperium. | According to Caphiria's tax code, there are two types of Personal Income Tax. Residential income tax is defined as "any individual (Citizen) living within the Imperium is subject to taxation on all income derived from sources within or outside the Imperium" whereas non-resident is defined as "any individual (Citizen) living abroad more than 183 days shall pay individual income tax only on the income derived or sourced from the Imperium. | ||
The base tax rate for residents is 6.05% and 21.46% for non-residents | The base tax rate for residents is 6.05% and 21.46% for non-residents. | ||
Additionally, there is a payroll tax paid by employers based on total remuneration of all employees. | |||
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| 16.94% | | 16.94% | ||
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|Payroll Tax | |||
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== Corporate taxes == | == Corporate taxes == | ||