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Sigrdrífa the Priestess

[Bill] Act on the Transaction Tax Bill

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* A High Priestess sings loud and lustily. *

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There is a Queen who weaves in the sky
See how She spins, see Her finger fly


She's been before us from beginning to end
She is our mother, lover and friend


She is the weaver and we are the web
She is the needle and we are thread


Lady Frigg never leaves us on the line
Through Her Love we're always doing fine!

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Lady Law Speaker, Honourable Jarls,

In the name of the Three Ladies Divine, Frigga, Freyja and Idunn, Fulltrui and Sacred Queens of the Good Lands of Valtia Reborn, from Whom all Authority in the Lands of the Longships Throne is derived, Her High Holiness the Yfirstormarksgythia and High Priestess of the Thingeyri Temple, Sigrdrífa the Priestess of the House of Vanadís, Ærkejarla of Thingeyri and the Idunn Isles, does hereby submit this Bill to the Most Honourable Jarls in this present Althing assembled for their consideration as law:


A Bill


AN ACT TO INTRODUCE THE TRANSACTION TAX TO THE REALM OF JOY; TO ABOLISH ALL OTHER EXISTING TAXES IN THE TWENTY-SIX JARLDOMS; AND TO MAKE PROVISION FOR MATTERS CONNECTED TO THE AFORESAID.

 

Most Gracious Sovereign Lord and Ruler of all the Lands Whatsoever Where Man Can Smell the Scent of Saline Waters or Hear the Sound of Crashing Waves,

 

WHEREAS it recently has become a concern widely felt in the Lands of the Longships Throne that the various systems of taxation which are currently in existence in the aforesaid Realm of Joy have become outdated and quite unduly burdensome for individuals and organisations alike;

 

AND WHEREAS we, Your Imperial and Royal Majesty's Most Faithful Jarls in the Althing assembled, have most joyously endeavoured to exercise our Supreme Legislative Authority to, for the benefit of Storish Society as a whole, address the deficiencies, lacks, and other issues concerning taxation in the High Realm by making statutory provision for the abolition and supplantation of all currently existing taxes in the Twenty-Six Jarldoms in favour of a single national tax which shall be known as the Transaction Tax;

 

NOW, THEREFORE, we, Your Imperial and Royal Majesty’s most dutiful and loyal Patricians, the Most Honourable Jarls of the High Realm in the Althing assembled, have freely and voluntarily resolved to to create and establish this Statute concerning the Transaction Tax by this Act of ours and through the provisions of the Act aforesaid make provision concerning the introduction of, liability to, and collection of the new national tax; the abolition of all present taxes as well as several matters ancillary to aforesaid, and we do most humbly beseech Your Imperial Valtian Viking Majesty that You may be graciously pleased to assent to and confirm as Law the following decision of Your Most Faithful Althingi Jarls:

 

Article 1. The Transaction Tax

There shall, upon the coming into operation of this Act, be imposed by the Most Honourable Jarls in the Althing assembled a national tax which shall be known as the Transactions Tax.

 

Article 2. Tax Liability

Any transactor within the borders of the High Realm, both buyers and sellers, shall be liable to the Transaction Tax.

 

Article 3. Collection of the Transaction Tax

The transactions tax shall be electronically collected from all transactors taking part in a transaction at the very instance that the monetary transfer of such a transaction occurs within the borders of the Realm of Joy.

 

Article 4. Revenue

Any revenue collected under this Act shall immediately after the collection be transferred directly to the State Treasury through the High Realm’s national electronic banking network which is known within the borders of the High Realm as Þjóðlegur Raftæknilegur Bankarekstur Net.

 

Article 5. Tax Rate

The Most Honourable Jarls in the Althing assembled hereby fix the general rate of the Transaction Tax at 0.35% of the value of a transaction.

 

Article 6. Tax Rate for Cash Withdrawals

The previous article notwithstanding, the Most Honourable Jarls in the Althing assembled hereby fix the rate of the Transaction Tax concerning withdrawals of cash at 0.875%.

 

Article 7. Apportionment of Revenue

The State Treasury shall apportion the revenue from the Transaction Tax as follows:

  • 50% of the aforesaid tax income shall remain in the State Treasury for appropriation in accordance with Althingi Law to cover the expenditure of the State;
  • 37% of the aforesaid revenue shall be allotted to the various Jarldom Treasuries for appropriation in accordance with the law of their respective Jarldoms to cover the expenditure of aforesaid Jarldoms and their subdivisions;
  • 13% of the aforesaid tax income shall be allocated to the Jólaslafðir.

Article 8. Per Capita Distribution to Jarldoms

The State Treasury shall proportionally distribute the revenue from the Transaction Tax among the Jarldoms based on the size of the aforesaid Jarldoms’ populations.

 

Article 9. Temple Tax

For reasons of history and nostalgia the monetary allotment made to the Jólaslafðir under this Act may be referred to as Temple Tax or Sóknargjöld.

 

Article 10. Supplantation of Existing Taxes

The Transaction Tax shall completely replace all taxes currently levied within the High Realm, including but not limited to income taxes, corporate taxes, excise taxes, payroll taxes, capital gains taxes and estate taxes, and the aforementioned to be supplanted taxes shall, upon the coming into operation of this Act, be abolished.

 

Article 11. Annulment of Existing Tax Law

All acts, laws, decrees, resolutions, orders, regulations, judgements, usages, or customs, which have heretofore established, maintained, or enforced taxation in the High Realm or any part thereof are hereby explicitly declared null and void.

 

Article 12. Power to Make Rules and Regulations

The High King in the High Council of the Realm may make all the rules and regulations He may deem necessary or expedient to carry the purposes and provisions of this Act into effect.

 

Article 13. Short Title and Commencement

This Act may be cited as the Act on the Transaction Tax of Year 14 and shall come into operation immediately after it has received the Imperial Assent.

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Memorandum of Explanation

 

Lady Law Speaker, Honourable Jarls,

A High Priestess wishes to convey that the why and wherefore of this Bill is to introduce a new national tax to the Lands of the Longships Throne while simultaneously abolishing all other taxes.

 

The purpose of the aforesaid is to provide the Realm of Joy with a widely-based tax system which is also simple, fair, and effective.

 

The Transaction Tax also precludes all the opportunities for fraud, corruption and political influence. And it frees up billions of hours and trillions of Ríkskronar that Stormarkers, businesses and individuals alike, currently waste on tax compliance.

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* A High Priestess prays out loud and lustily. *

Thy Most Sacred Majesties,

Direct, I beseech Thee, O Fulltrui and Sacred Queens, the actions of us Jarls in this present Althing assembled by Thy most sacred inspirations and carry them on by Thy most gracious assistance; that every word and work of ours may always begin from Thee, O Three Ladies Divine, and by Thee be happily ended; through Thy Most Sacred Majesties' Love, so mote it be.

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Honourable Jarls,

 

In the name of the Three Ladies Divine, Frigga, Freyja and Idunn, Fulltrui and Sacred Queens of the Good Lands of Valtia Reborn, from Whom all Authority in the Lands of the Longships Throne is derived, all of me, Lady Aoife the Celt of the House of the Descendants of Freyja, Krónjarla of Stormark, Imperial Chieftainess of the Sólareyjar, Bloodroyal and Ærkejarla of the Sólareyjar, Law Speaker of the Althing, grants the Applejarla leave to submit this Bill of hers to all of you here in this present Althing assembled.

 

Discussion and debate on this Bill will be open for a period of one week.

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Lady Law Speaker, Honourable Jarls,

 

I would wish that we had such a tax system in my macronational country.

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Lady Law Speaker, Honourable Jarls,

 

The Brísingajarla seconds the move for a vote.

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Honourable Jarls,

In the name of the Three Ladies Divine, Frigga, Freyja and Idunn, Fulltrui and Sacred Queens of the Good Lands of Valtia Reborn, from Whom all Authority in the Lands of the Longships Throne is derived, all of me has noted that motion for a vote has been made and seconded. All of me hereby declares that debate is closed and that voting shall commence immediately. All Althingi Jarls may vote AYE, NAY, DEFER to signify the Bill be returned to debate or ABSTAIN. Voting may remain open for four days.

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Lady Law Speaker, Honourable Jarls,

The High King and Gulajarl begs leave to move for closure of the vote.

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Lady Law Speaker, Honourable Jarls,



The Brísingajarla seconds the move for closure.


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Honourable Jarls,

In the name of the Three Ladies Divine, Frigga, Freyja and Idunn, Fulltrui and Sacred Queens of the Good Lands of Valtia Reborn, from Whom all Authority in the Lands of the Longships Throne is derived, all of me declares that voting is now closed.

This Bill is hereby pronounced passed by the the Most Honourable Jarls in this present Althing assembled. The tally is, in accordance with the votes allocated by virtue of Article 8 of the Althing Statute, 6 Ayes, 1 Nay and 0 abstentions. All of me does hereby submit this Bill to the High King for the Imperial Assent.

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Lady Law Speaker,

 

We do hereby inform you that We have granted Our Imperial Assent to the Act on the Transaction Tax Bill and the said Bill has therefore become Law as the Act on the Transaction Tax of Year 14.

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