New Feature MAT rate

taxcalc/current_law_policy_cit_training.json

@@ -1,4 +1,30 @@
 {
+    "_mat_rate": {
+        "long_name": "rate at which corporates in Oil&Gas sector are taxed",
+        "description": "Minimum Alternative Tax rate",
+        "itr_ref": "Tax Law",
+        "notes": "",
+        "row_var": "Year",
+        "row_label": [
+            "2020"
+        ],
+        "start_year": 2020,
+        "cpi_inflatable": false,
+        "cpi_inflated": false,
+        "col_var": "Value",
+        "col_label": ["Value"],
+        "boolean_value": false,
+        "integer_value": false,
+        "value": [0.0],
+        "range": {
+            "min": 0.0,
+            "max": 1.0
+        },
+        "out_of_range_minmsg": "",
+        "out_of_range_maxmsg": "",
+        "out_of_range_action": "stop"
+    },
+
     "_cit_rate_oil": {
         "long_name": "rate at which corporates in Oil&Gas sector are taxed",
         "description": "Corporate Tax rate",

taxcalc/function_names_cit_training.json

@@ -18,5 +18,6 @@
   "16": "Net_tax_base",
   "17": "Net_tax_base_behavior",  
   "18": "Net_tax_base_Egyp_Pounds",
-  "19": "cit_liability"
+  "19": "mat_liability",
+  "20": "cit_liability"
 }

taxcalc/functions_cit_training.py

@@ -249,9 +249,19 @@ def Net_tax_base_Egyp_Pounds(Net_tax_base_behavior, Exchange_rate, Net_tax_base_
 DEBUG = False
 DEBUG_IDX = 0
 
+@iterate_jit(nopython=True)
+def mat_liability(mat_rate, Net_accounting_profit, MAT):
+    """
+    Compute tax liability given the corporate rate
+    """
+    # subtract TI_special_rates from TTI to get Aggregate_Income, which is
+    # the portion of TTI that is taxed at normal rates
+    MAT=mat_rate*Net_accounting_profit
+
+    return MAT
 
 @iterate_jit(nopython=True)
-def cit_liability(cit_rate_oil, cit_rate_hotels, cit_rate_banks, cit_rate_genbus, Sector_Code, Net_tax_base_Egyp_Pounds, citax):
+def cit_liability(cit_rate_oil, cit_rate_hotels, cit_rate_banks, cit_rate_genbus, Sector_Code, Net_tax_base_Egyp_Pounds,MAT, citax):
     """
     Compute tax liability given the corporate rate
     """
@@ -267,6 +277,8 @@ def cit_liability(cit_rate_oil, cit_rate_hotels, cit_rate_banks, cit_rate_genbus
     elif Sector_Code == 3:
         citax = cit_rate_genbus * taxinc
 
+    if MAT>citax:
+        citax=MAT
     return citax
 
 

taxcalc/records_variables_cit_training.json

@@ -622,6 +622,13 @@
       "form": {
         "2020": "carried forward from Table 411B  - Tax Return Legal Persons"
       }
+    },
+    "MAT": {
+      "type": "float",
+      "desc": "Minimun Alternate Tax",
+      "form": {
+        "2020": "carried forward from Table 411B  - Tax Return Legal Persons"
+      }
     }
   }
 }