Post by Josephus I on Mar 26, 2008 16:13:07 GMT
Budget: Henceforth, all spending by the Nova English Government will be handled from the official budget [Known by the User name- Nova English Bank]. To begin, this budget is granted ND£20 000 plus recent earnings from Nova English Trade, and subsequent budgets will be made up of government income from taxation and government services. The Budget is to be used for the development of Nova England. The Witan Chief or King cannot earn any of the budget, regardless of whether he/she contributes to the things done or not.
Taxation:
A general GST of 10% on ALL products where the proceeds do not go directly to the government. Business owners have the right to choose if they raise the price to meet this or if it comes from their own pocket. Business owners are responsible for paying this - if they do not, they will be fined more than this.
A Progressive wealth tax on ALL cash assets of anybody in the forum, payable at the end of each month. Cash Assets are your ND£ on hand, and any money in The Nova English Bank or another Bank, but NOT property, or any other product. Citizens who are saving up to buy a particular product may fill in a Tax Exemption form and be exempt from tax for that month, but ONLY if they do this before hand and if it can be shown they want to buy a product worth more than they already have. An obvious and allowable tax dodge is to buy lots of stuff just before the end of the month. The Wealth Tax is levelled on all users of the forum, not just citizens, as it is on Nova English assets.
The Progressive Taxation rates are as followed. They may be changed in subsequent budgets with Witan Approval.
First ND£2000 is tax exempt,
2000 to 6000 at 15%, 6000-12000 at 20% and 12000 + at 25%.
Diplomats may apply for a Tax Exemption visa if they want.
Other Government Funds:
All Government Services that raise money (for example, the selling of property) are payed directly into the budget also. For ease of reference, the budget is viewable in the Bank Of Nova England.
Audits:
The Government is hereby empowered to audit all past, present or future financial activity of any member regarding to Nova England.
Transfers to other currencies:
Transfers to other currencies/forums will be handled by Bank Of Nova England until such time as a Bursar is appointed. Bank Nova should leave a note in the cash log about the transfer.
Financial Crime:
The following actions are made illegal:
Editing Cash Logs in any way
Failure by businesses to pay tax on income received
Failure by businesses operating with crown assets to give the crown the money due unto them
Misleading advertising
Attempts to avoid tax by citizens
Taxation:
A general GST of 10% on ALL products where the proceeds do not go directly to the government. Business owners have the right to choose if they raise the price to meet this or if it comes from their own pocket. Business owners are responsible for paying this - if they do not, they will be fined more than this.
A Progressive wealth tax on ALL cash assets of anybody in the forum, payable at the end of each month. Cash Assets are your ND£ on hand, and any money in The Nova English Bank or another Bank, but NOT property, or any other product. Citizens who are saving up to buy a particular product may fill in a Tax Exemption form and be exempt from tax for that month, but ONLY if they do this before hand and if it can be shown they want to buy a product worth more than they already have. An obvious and allowable tax dodge is to buy lots of stuff just before the end of the month. The Wealth Tax is levelled on all users of the forum, not just citizens, as it is on Nova English assets.
The Progressive Taxation rates are as followed. They may be changed in subsequent budgets with Witan Approval.
First ND£2000 is tax exempt,
2000 to 6000 at 15%, 6000-12000 at 20% and 12000 + at 25%.
Diplomats may apply for a Tax Exemption visa if they want.
Other Government Funds:
All Government Services that raise money (for example, the selling of property) are payed directly into the budget also. For ease of reference, the budget is viewable in the Bank Of Nova England.
Audits:
The Government is hereby empowered to audit all past, present or future financial activity of any member regarding to Nova England.
Transfers to other currencies:
Transfers to other currencies/forums will be handled by Bank Of Nova England until such time as a Bursar is appointed. Bank Nova should leave a note in the cash log about the transfer.
Financial Crime:
The following actions are made illegal:
Editing Cash Logs in any way
Failure by businesses to pay tax on income received
Failure by businesses operating with crown assets to give the crown the money due unto them
Misleading advertising
Attempts to avoid tax by citizens
Please vote on the Bill accordingly!
