NEW Tax Policy???

Day 930, 01:08 • Published in India India • by Lord Bernin

Hi to all the readers,

I am sorry that I have to disagree with the new President on the new tax structure.

I DISAGREE ON-

1% Income tax on all items
1% Import tax on Wood and grain

I AGREE ON-
1% Import Tax on Oil, Iron and Diamonds
1% VAT on all manufactured items.
1% Import tax and VAT on houses, hospitals and Defense Systems.

My SUGGESTIONS-

WOOD-

Wood is one of the major boosts to our economy. We have a lot of wood companies operating here owned by foreigners. Most are owned by Iranians. By making tax 1-1-1 we will be helping their economy and not our own. So, I propose Wood tax to be as follows-
VAT - 0
Import Tax - 50
Income Tax - 10

This will not discourage any investors.

GRAIN

Grain is the most important and most consumed resource. This may sound ironical but is true. If we have iron and not grain, we cannot prosper. 1% Import tax on it is not done.
It should be like-
VAT - 0
Import Tax - 50
Income Tax - 4-8 (whatever is agreed upon)

INCOME TAX

Income tax is the most major source of income for the government. It should be kept around 5-9% as agreed but not drastically reduced to 1%.

I thank you for your time.

-Anant