Difference between revisions of "Taxation in Karimun"

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=Federal Income Tax=
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=Income Tax=
  
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==Single Tax==
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Income taxation is subject to Federal government regulations defined by the economic realities of that particular area.
 +
 
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==Citizen==
 +
 
 +
People of Karimun who are citizens of the Federation of Karimun that have worked more than 3 months and have guaranteed income must pay tax.
 +
 
 +
===Single Income Earner Tax===
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 +
{| class="wikitable"
 +
|-
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! Band !! Tax Rate !! Yearly Single Income Band (KPT) !! Details
 +
|-
 +
| Tax Free || 0% || Under 250,000 ||
 +
|-
 +
| Band I || 10% || 250,001-350,000|| 250KPT per children, maximum three children that are taxable until he/she capable to have a sustainable, reliable, and stable income
 +
|-
 +
| Band II || 15% || 350,001-450,000|| 250KPT per children, maximum three children that are taxable until he/she capable to have a sustainable, reliable, and stable income
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|-
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| Band III || 20% || 450,001-600,000|| 300KPT per children, maximum four children that are taxable until he/she capable to have a sustainable, reliable, and stable income
 +
|-
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| Band IV || 25% || Above 600,001|| 450KPT per children, maximum five children that are taxable until he/she capable to have a sustainable, reliable, and stable income
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|}
 +
 
 +
===Plural Income Earners Tax===
  
 
{| class="wikitable"
 
{| class="wikitable"
 
|-
 
|-
−
! Band !! Tax Rate !! Income Band (KPT)!! Details
+
! Band !! Tax Rate !! Yearly Plural Income Band (KPT) !! Details
 +
|-
 +
| Tax Free || 0% || Under 250,000 ||
 +
|-
 +
| Band I || 15% || 250,001-350,000|| 250KPT per children, maximum three children that are taxable until he/she capable to have a sustainable, reliable, and stable income
 +
|-
 +
| Band II || 20% || 350,001-450,000|| 250KPT per children, maximum three children that are taxable until he/she capable to have a sustainable, reliable, and stable income
 
|-
 
|-
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| Tax Free || 0% || Under 12,000KPT ||  
+
| Band III || 25% || 450,001-600,000|| 300KPT per children, maximum four children that are taxable until he/she capable to have a sustainable, reliable, and stable income
 +
|-
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| Band IV || 30% || Above 600,001|| 450KPT per children, maximum five children that are taxable until he/she capable to have a sustainable, reliable, and stable income
 +
|}
 +
 
 +
==Resident==
 +
 
 +
People of foreign nations who residing in the Federation of Karimun who managed to acculumate wealth within the state or have worked more than three months and have guaranteed income have to pay tax.
 +
 
 +
{| class="wikitable"
 
|-
 
|-
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| Band I || 5% || 12,001-20,000||
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! Band !! Tax Rate !! Yearly Resident Income Band (KPT) !! Details
 
|-
 
|-
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| Band II || 7.5% || 21,001-30,000||  
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| Tax Free || 0% || Under 250,000 ||  
 
|-
 
|-
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| Band III || 10% || 31,001-40,000 ||  
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| Band I || 10% || 250,001-450,000|| Additional 1,500KPT for non-BEZ residents
 
|-
 
|-
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| Band IV || 15% || 41,001-50,000 || 1000KPT plus 15% of the amount over 41,001KPT
+
| Band II || 20% || Above 450,000|| Additional 1,500KPT for non-BEZ residents
 
|-
 
|-
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| Band V || 20% || Above 51,001 || 2000KPT plus 20% of the amount over 50,001KPT
 
 
|}
 
|}
  
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==Married Tax==
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=Corporate Income Tax=
  
 
{| class="wikitable"
 
{| class="wikitable"
 
|-
 
|-
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! Band !! Tax Rate !! Income Band (KPT)!! Details
+
! Categorization !! Tax Rate !! Details
 
|-
 
|-
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| Tax Free || 0% || Under 15,000KPT ||
+
| Petroleum and Mining || 20% || Petroleum (Oil, Natural Gas, or others) and Mining (Nickel, Tin, or others) are subjected into a flat tax rate of 20%, this not included Environmental Tax which depends on the states or cities they are operating, except construction related materials, they are excluded from being taxed
 
|-
 
|-
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| Band I || 7.5% || 15,001-25,000|| 250KPT per children (Max, 3 children that are taxable until the children could work and pay taxes) and 400KPT if he/she have non-working partner
+
| Agriculture, Forestry, and Fishery || 10% for majority foreign owned<br>5% for majority domestic owned || Agriculture (Rice, banana, coffee, tea, and others), Forestry (Plywood and others), Fisheries (Lobsters, prawn, seaweed, and others), and related are subjected into a tax rate of 10% for majority foreign owned, 5% for majority domestic owned, this is not included Environmental Tax which depends on the states or cities they are operating
 
|-
 
|-
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| Band II || 10% || 25,001-35,000|| 250KPT per children (Max, 3 children that are taxable until the children could work and pay taxes) and 400KPT if he/she have non-working partner
+
| Manufacturing || 20% for majority foreign owned<br>15% for majority domestic owned || This is not included Environmental Tax which depends on the states or cities they are operating
 
|-
 
|-
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| Band III || 15% || 35,001-45,000 || 250KPT per children (Max, 3 children that are taxable until the children could work and pay taxes) and 400KPT if he/she have non-working partner
+
| Construction and Infrastructure || 10% for construction<br>5% for construction || Under the Job Creation Omnibus Law and the Economic Development Plan 2021, all construction and infrastructure related companies don't need to pay environmental tax, they only need to implement safe and eco friendly tehnicques, green development, and a good independent supervision body
 
|-
 
|-
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| Band IV || 20% || 45,001-55,000 || 1000KPT plus 15% of the amount over 45,001KPT plus 250KPT per children (Max, 3 children that are taxable until the children could work and pay taxes) and 400KPT if he/she have non-working partner
+
| Electricity, Water, Gas, and Waste || 5% || Electricity, Water, Gas, and Waste services are subjected to a flat tax rate of 5%
 +
|-
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| Retail || 5% || This is not included Environmental Tax which depends on the states or cities they are operating
 
|-
 
|-
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| Band V || 25% || Above 55,001 || 2000KPT plus 20% of the amount over 55,001 plus 250KPT per children (Max, 3 children that are taxable until the children could work and pay taxes) and 400KPT if he/she have non-working partner
 
 
|}
 
|}
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[[Category:Terraconserva]]
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[[Category:Karimun]]
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[[Category:Finance]]
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[[Category:Taxation]]

Latest revision as of 11:33, 27 July 2021

Income Tax

Income taxation is subject to Federal government regulations defined by the economic realities of that particular area.

Citizen

People of Karimun who are citizens of the Federation of Karimun that have worked more than 3 months and have guaranteed income must pay tax.

Single Income Earner Tax

Band Tax Rate  Yearly Single Income Band (KPT) Details
Tax Free  0% Under 250,000
Band I  10% 250,001-350,000 250KPT per children, maximum three children that are taxable until he/she capable to have a sustainable, reliable, and stable income
Band II  15% 350,001-450,000 250KPT per children, maximum three children that are taxable until he/she capable to have a sustainable, reliable, and stable income
Band III  20% 450,001-600,000 300KPT per children, maximum four children that are taxable until he/she capable to have a sustainable, reliable, and stable income
Band IV  25% Above 600,001 450KPT per children, maximum five children that are taxable until he/she capable to have a sustainable, reliable, and stable income

Plural Income Earners Tax

Band Tax Rate  Yearly Plural Income Band (KPT) Details
Tax Free  0% Under 250,000
Band I  15% 250,001-350,000 250KPT per children, maximum three children that are taxable until he/she capable to have a sustainable, reliable, and stable income
Band II  20% 350,001-450,000 250KPT per children, maximum three children that are taxable until he/she capable to have a sustainable, reliable, and stable income
Band III  25% 450,001-600,000 300KPT per children, maximum four children that are taxable until he/she capable to have a sustainable, reliable, and stable income
Band IV  30% Above 600,001 450KPT per children, maximum five children that are taxable until he/she capable to have a sustainable, reliable, and stable income

Resident

People of foreign nations who residing in the Federation of Karimun who managed to acculumate wealth within the state or have worked more than three months and have guaranteed income have to pay tax.

Band Tax Rate  Yearly Resident Income Band (KPT) Details
Tax Free  0% Under 250,000
Band I  10% 250,001-450,000 Additional 1,500KPT for non-BEZ residents
Band II  20% Above 450,000 Additional 1,500KPT for non-BEZ residents

Corporate Income Tax

Categorization Tax Rate Details
Petroleum and Mining 20% Petroleum (Oil, Natural Gas, or others) and Mining (Nickel, Tin, or others) are subjected into a flat tax rate of 20%, this not included Environmental Tax which depends on the states or cities they are operating, except construction related materials, they are excluded from being taxed
Agriculture, Forestry, and Fishery 10% for majority foreign owned
5% for majority domestic owned		 Agriculture (Rice, banana, coffee, tea, and others), Forestry (Plywood and others), Fisheries (Lobsters, prawn, seaweed, and others), and related are subjected into a tax rate of 10% for majority foreign owned, 5% for majority domestic owned, this is not included Environmental Tax which depends on the states or cities they are operating
Manufacturing 20% for majority foreign owned
15% for majority domestic owned		 This is not included Environmental Tax which depends on the states or cities they are operating
Construction and Infrastructure 10% for construction
5% for construction		 Under the Job Creation Omnibus Law and the Economic Development Plan 2021, all construction and infrastructure related companies don't need to pay environmental tax, they only need to implement safe and eco friendly tehnicques, green development, and a good independent supervision body
Electricity, Water, Gas, and Waste 5% Electricity, Water, Gas, and Waste services are subjected to a flat tax rate of 5%
Retail 5% This is not included Environmental Tax which depends on the states or cities they are operating
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