Economy of Auresia: Difference between revisions
(Created page with "Economy of Auresia The economy of the Auresian Empire is among the world's largest. With a strong focus on trade and business, the empire has evolved into an attractive hub for investment and opportunities. It maintains connections with numerous nations and engages extensively in buying, selling, and trading in global markets. Overview Auresia's economy benefits from government oversight and regulation while allowing substantial flexibility for corporate operations. H...") |
mNo edit summary |
||
| Line 1: | Line 1: | ||
Economy of Auresia | {{DISPLAYTITLE:Economy of Auresia}} | ||
The economy of the Auresian Empire is among the world's largest. With a strong focus on trade and business, the empire has evolved into an attractive hub for investment and opportunities. It maintains connections with numerous nations and engages extensively in buying, selling, and trading in global markets. | The economy of the Auresian Empire is among the world's largest. With a strong focus on trade and business, the empire has evolved into an attractive hub for investment and opportunities. It maintains connections with numerous nations and engages extensively in buying, selling, and trading in global markets. | ||
Overview | == Overview == | ||
Auresia's economy benefits from government oversight and regulation while allowing substantial flexibility for corporate operations. However, stringent standards are in place to penalize any attempt to exploit the system. The Imperial Curia's government remains neutral towards business unless required to address grievances or criminal activities. | Auresia's economy benefits from government oversight and regulation while allowing substantial flexibility for corporate operations. However, stringent standards are in place to penalize any attempt to exploit the system. The Imperial Curia's government remains neutral towards business unless required to address grievances or criminal activities. | ||
Taxation | == Taxation == | ||
Taxation in the empire is structured through a series of rates: | Taxation in the empire is structured through a series of rates: | ||
Personal income is taxed at a flat 5% rate. | * Personal income is taxed at a flat 5% rate. | ||
Corporate gains are taxed at 5% without a cap. | * Corporate gains are taxed at 5% without a cap. | ||
Investment gains are taxed at 2.5% without a cap. | * Investment gains are taxed at 2.5% without a cap. | ||
=== Rules === | |||
Domestic firms are prohibited from relocating operations outside the empire for tax reduction. Foreign firms are disallowed from routing gains earned within the empire to foreign entities to reduce tax liability, leading to an increased taxation levy as a penalty. | Domestic firms are prohibited from relocating operations outside the empire for tax reduction. Foreign firms are disallowed from routing gains earned within the empire to foreign entities to reduce tax liability, leading to an increased taxation levy as a penalty. | ||
For overdue taxes exceeding one year, property or assets equivalent to the debt value can be seized by the state for liquidation. This applies to both individuals and firms. Appeals against asset seizure for debt payment are not permitted. | For overdue taxes exceeding one year, property or assets equivalent to the debt value can be seized by the state for liquidation. This applies to both individuals and firms. Appeals against asset seizure for debt payment are not permitted. | ||
Tax Calculation | === Tax Calculation === | ||
Taxation calculations follow specific rules: | |||
* For single individuals: A flat 5% rate applies, with deductions available for children or property ownership. | |||
* For married couples: Each individual is taxed at 5%, with combined earnings used for taxation. Similar deductions are available. | |||
=== Special Situations === | |||
Special Situations | |||
Newly-established firms receive a 20% tax reduction in their first year. | * Newly-established firms receive a 20% tax reduction in their first year. | ||
Religious institutions and corporations gain no exemptions. | * Religious institutions and corporations gain no exemptions. | ||
There are no earned income, gift, estate, or death taxes. | * There are no earned income, gift, estate, or death taxes. | ||
== Loans == | |||
Auresia's regulations on loans prevent predatory practices and toxic debt expansion. Secured loans, often used for housing purchases, require collateral assets worth at least one-fifth of the loan value. Monthly payments cannot exceed one-quarter of the borrower's income. Lenders cannot foreclose on defaulted loans before three months past the default date. | Auresia's regulations on loans prevent predatory practices and toxic debt expansion. Secured loans, often used for housing purchases, require collateral assets worth at least one-fifth of the loan value. Monthly payments cannot exceed one-quarter of the borrower's income. Lenders cannot foreclose on defaulted loans before three months past the default date. | ||
Bonds | == Bonds == | ||
Bonds in the empire are issued through underwriting or auction. Government bonds, known as Imperial Lion Bonds, are issued in four investment levels. The rate of return depends on bond terms and market price. Private placement bonds avoid underwriting costs but may not be tradeable in the bond market. | Bonds in the empire are issued through underwriting or auction. Government bonds, known as Imperial Lion Bonds, are issued in four investment levels. The rate of return depends on bond terms and market price. Private placement bonds avoid underwriting costs but may not be tradeable in the bond market. | ||
Currency & Central Bank | == Currency & Central Bank == | ||
The valuation of the empire's currency, the florin, is regulated by the Imperial Council of Auresia. The Imperial Treasury manages money flow and collateral. | The valuation of the empire's currency, the florin, is regulated by the Imperial Council of Auresia. The Imperial Treasury manages money flow and collateral. | ||
Finance | == Finance == | ||
The Auresian finance sector covers savings, debit and credit accounts, stock investments, bonds, and loans. | The Auresian finance sector covers savings, debit and credit accounts, stock investments, bonds, and loans. | ||
Health Care | == Health Care == | ||
The health care sector maintains medical services for the empire's citizens. | The health care sector maintains medical services for the empire's citizens. | ||
Agriculture & Industry | == Agriculture & Industry == | ||
Agriculture, light and heavy industries, energy, and transportation contribute to Auresia's economy. | Agriculture, light and heavy industries, energy, and transportation contribute to Auresia's economy. | ||
International Trade | == International Trade == | ||
The empire engages in international trade with strict oversight. | The empire engages in international trade with strict oversight. | ||
[[Category:Auresia]] | [[Category:Auresia]] | ||
Revision as of 03:17, 30 September 2023
The economy of the Auresian Empire is among the world's largest. With a strong focus on trade and business, the empire has evolved into an attractive hub for investment and opportunities. It maintains connections with numerous nations and engages extensively in buying, selling, and trading in global markets.
Overview
Auresia's economy benefits from government oversight and regulation while allowing substantial flexibility for corporate operations. However, stringent standards are in place to penalize any attempt to exploit the system. The Imperial Curia's government remains neutral towards business unless required to address grievances or criminal activities.
Taxation
Taxation in the empire is structured through a series of rates:
- Personal income is taxed at a flat 5% rate.
- Corporate gains are taxed at 5% without a cap.
- Investment gains are taxed at 2.5% without a cap.
Rules
Domestic firms are prohibited from relocating operations outside the empire for tax reduction. Foreign firms are disallowed from routing gains earned within the empire to foreign entities to reduce tax liability, leading to an increased taxation levy as a penalty.
For overdue taxes exceeding one year, property or assets equivalent to the debt value can be seized by the state for liquidation. This applies to both individuals and firms. Appeals against asset seizure for debt payment are not permitted.
Tax Calculation
Taxation calculations follow specific rules:
- For single individuals: A flat 5% rate applies, with deductions available for children or property ownership.
- For married couples: Each individual is taxed at 5%, with combined earnings used for taxation. Similar deductions are available.
Special Situations
- Newly-established firms receive a 20% tax reduction in their first year.
- Religious institutions and corporations gain no exemptions.
- There are no earned income, gift, estate, or death taxes.
Loans
Auresia's regulations on loans prevent predatory practices and toxic debt expansion. Secured loans, often used for housing purchases, require collateral assets worth at least one-fifth of the loan value. Monthly payments cannot exceed one-quarter of the borrower's income. Lenders cannot foreclose on defaulted loans before three months past the default date.
Bonds
Bonds in the empire are issued through underwriting or auction. Government bonds, known as Imperial Lion Bonds, are issued in four investment levels. The rate of return depends on bond terms and market price. Private placement bonds avoid underwriting costs but may not be tradeable in the bond market.
Currency & Central Bank
The valuation of the empire's currency, the florin, is regulated by the Imperial Council of Auresia. The Imperial Treasury manages money flow and collateral.
Finance
The Auresian finance sector covers savings, debit and credit accounts, stock investments, bonds, and loans.
Health Care
The health care sector maintains medical services for the empire's citizens.
Agriculture & Industry
Agriculture, light and heavy industries, energy, and transportation contribute to Auresia's economy.
International Trade
The empire engages in international trade with strict oversight.