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Taxation in Kiravia: Difference between revisions
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* The excise tax | * The excise tax | ||
Income taxes are the only ones of the aforementioned taxes imposed at the federal level with the exception of the VAT, which is split between the federal and provincial government, all others are imposed by government at the provincial level with the exception of excise taxes on fuel which don't make up a majority of government revenues but are imposed on a national level. | Income taxes are the only ones of the aforementioned taxes imposed at the federal level with the exception of the VAT, which is split between the federal and provincial government, all others are imposed by government at the provincial level with the exception of excise taxes on fuel which don't make up a majority of government revenues but are imposed on a national level. | ||
== History == | |||
For most of Kiravian history, taxes were mainly assessed upon the agricultural output of a jurisdiction and collected {{wp|in kind}}. Public revenue was extracted from non-agricultural enterprises mainly in the form of royalties, rents, fees for licenses and monopolies, and similar charges. Taxation in coin was practised during the Classical Period but became obsolete in the Postclassical Period as the spatial scale of the economy contracted and legible, organised markets receded, before becoming practical once more during the 14th century AD. From this time until the Republican Restoration, urban authorities depended heavily on {{wp|octroi}} taxes, which is why many {{wp|old town|historic city centres}} dating from long after the feudal era are walled, though not truly fortified. The rural populace during the same period was still taxed (though now in money) on their farm produce and were obliged to pay duties on various manufactures, such as linen and woolen cloth, paper, distilled liquor, ''[[ruxbur|ruxburya]]'', saltpeter, and pins. Several of the later Coscivian Empires and many inland kingdoms and {{wp|Kleinstaaterei|statelets}} imposed a {{wp|salt tax}}. The constitutions of the Kiravian Confederation and Kiravian Federacy authorised the confederal/federal governments to levy a salt tax, but collection was discontinued in 1878 AD. | |||
== Types of Taxation == | == Types of Taxation == | ||
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=== Corporate Income Tax === | === Corporate Income Tax === | ||
The income tax | The income tax on corporate entities in Kiravia is generally set at a rate of 14.5% however for non-residential corporate entities various other fees from the Kiravian government may be applied that while not legally counted as a tax are considered by many to be very similar such as regular licensing and zoning fees. | ||
=== Capital Gains === | === Capital Gains === | ||
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Fuel tax is the only excise tax that is handled on the federal level and is set at a rate of 22% | Fuel tax is the only excise tax that is handled on the federal level and is set at a rate of 22% | ||
==== | ==== Liquor Taxes ==== | ||
Sin taxes in Kiravia are handled at the provincial level and are a general name for many different taxes with the largest earning and most consistent varieties being on liquor and tobacco with each one being set at 12.5% however other ones include taxes junk food, plastic products, and lottery earnings. | Sin taxes in Kiravia are handled at the provincial level and are a general name for many different taxes with the largest earning and most consistent varieties being on liquor and tobacco with each one being set at 12.5% however other ones include taxes junk food, plastic products, and lottery earnings. | ||
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Taxation of land used for agricultural purposes is considered a separate tax from the land value tax with it being taxed at a flat rate of 0.07% | Taxation of land used for agricultural purposes is considered a separate tax from the land value tax with it being taxed at a flat rate of 0.07% | ||
=== Stamp Duties === | |||
=== Tariffs === | === Tariffs === | ||
TBD | TBD | ||