The Commonwealth
of Boshka
43rd Legislature, Premiere Session
148th Sitting
C - 158
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THE HOUSE OF COMMONS OF THE COMMONWEALTH OF BOSHKA
18 September 2018
Received; read the first time
18 September 2018
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AN ACT
1. Short title
This Bill may be cited as "The 2018 Tax Act".
Section 1.
Understanding that a nation must collect taxes from it's citizens in order to maintain the infrastructure, government and to be able to provide an income for those who are public servants.
Section 2.
(Definitions)
(A) The term "Taxes" is a mandatory financial charge or some other type of levy imposed upon a taxpayer (an individual or other legal entity) by a governmental organization in order to fund various public expenditures.
(B) The term "infrastructure" refers to the basic physical and organizational structures and facilities (e.g., buildings, roads, and power supplies) needed for the operation of a society or enterprise.
(C) The term "public servants" refers to a person(s) that is employed by the government. i.e. a government official.
Section 3.
(A) Income Tax.
The following shall collect income tax:
1. The Federal Government of Boshka
2. Province Government
(B) Taxable Parties.
The following individuals and entities shall be taxable:
1. Boshkan Citizens (residing in Boshka)
2. Businesses/Corporations (residing in Boshka)
3. Individual (sole) proprietor(s) (residing in Boshka)
4. Provinces
(C) Taxable Income.
1. The following is taxable income (Federal Level):
A. Monies received as payment for services rendered of at least $4,000.00 CBD or more.
B. Monies received from province income taxes collected.
2. Each province shall decide what is or not taxable.
(D) Income Tax Table.
The following is the Federal Income Tax Table:
A. This chart reflects a Flat Rate Federal Income Tax:
_______AMOUNT _____TAXES COLLECTED______
$0 - up to $4000.00 $0.00
$4000.00 - up to $8000.00 $400.00
$8000.00 - up to $12000.00 $800.00
$12000.00 - up to $16000.00 $1200.00
$16000.00 - up to $20000.00 $1600.00
$20000.00 - up to $24000.00 $2000.00
$24000.00 - up to $28000.00 $2400.00
$28000.00 - up to $32000.00 $2800.00
$32000.00 - up to $36000.00 $3200.00
$36000.00 - up to $40000.00 $3600.00
$40000.00 - up to $44000.00 $4000.00
$44000.00 - up to $48000.00 $4400.00
$48000.00 - up to $52000.00 $4800.00
$52000.00 - up to $56000.00 $5200.00
$56000.00 - up to $60000.00 $5600.00
$60000.00 - up to $64000.00 $6000.00
$64000.00 - up to $68000.00 $6400.00
$68000.00 - up to $72000.00 $6800.00
$72000.00 - up to $76000.00 $7200.00
$76000.00 - up to $80000.00 $7600.00
$80000.00 - up to $84000.00 $8000.00
$84000.00 - up to $88000.00 $8400.00
$88000.00 - up to $92000.00 $8800.00
$92000.00 - up to $96000.00 $9200.00
$96000.00 - up to $100000.00 $9600.00
$100000.00 - up to $500000.00 $10500.00
$500000.00 - up to $1000000.00 $15200.00
$1000000.00 + $15200.00 + $400.00 for every additional $8000.00 earned over $1000000.00
B. The Boshka Department of Revenue (DOR) is responsible to collecting Federal Income Tax.
C. Each province treasury is responsible for collecting province income tax. Provinces may create a special department for collecting province income tax.
1. Each province shall determine it's own income tax rate.
(E) Payment of Taxes.
Individuals or entities paying income tax may pay by filing Federal Income Taxes with the DOR and by filing income taxes with their own provinces.
A. Those individuals or entities paying income taxes have they following options when paying:
1. Pay out of each paycheck.
i.e. $4000.00 monthly pay ($2000.00 every other week) may pay $400.00 from each pay check collected by employer ($200.00 from each paycheck if being payed every other week).
Monthly Check: $4000.00 Gross Pay
- $400.00 Income Tax
= $3600.00 Net Pay
Every other week pay: $2000.00 Gross Pay (Based on $4000.00 monthly pay.)
- $200.00 Income Tax
= $1800.00 Net Pay
2. Pay at end of year.
i.e. $16000 yearly pay may pay $1600.00 at the end of the year by filing Federal Income Tax.
Yearly Pay: $16000.00 Gross Pay
- $1600.00 Income Tax
= $14400.00 Net Pay
(F) Province Sales Tax.
Local Province Governments shall collect sales tax on goods being sold in each individual province.
A. Each province treasury is responsible for collecting province sales tax. Provinces may create a special department for collecting province sales tax on the following:
1. Goods/services that are sold; except the following:
- Medications
- Groceries (Non-prepared foods)
- Government Services Provided
- Sales between Governments of Boshka
- Medical Transportation Agency Services rendered
- Government Vehicles
- Insurance
Section 4.
(A) Upon the passing of this ACT, this is to take affect on 1 January 2019.
Section 5.
(A) Any part of this ACT may be changed or altered in accordance of the law.
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Passed in the House of Commons 21 September 2018.
ATTEST:
Natalya Ivashov - Clerk