Ministry of Finance Update
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by Hale Kane
Hello ladies and gentlemen reading this article. This will be the first article this term where we will update eSwitzerland’s economic progress. In this article we will discuss several topics dealing with the new proposed and accepted tax laws, increase/decrease in prices of materials sold on market, and country revenue increase.
Our first discussion will be on the new proposed and accepted tax laws congress proposed several days ago:
http://www.erepublik.com/en/main/law/Switzerland/100759
http://www.erepublik.com/en/main/law/Switzerland/100760
The new tax laws were discussed on the forums and it was a good choice to raise import tax but undecided about VAT. The import tax of course was increased to reduce competition from exporters and generate more money from imports. This will help to reduce the dependency on imports and boost local economy. In future we will depend on more “home grown/made products”. The VAT on the other hand affects both Swiss and foreign sellers. The money raised from the tax increases has provided a 25% (16,677 CHF extra each day) boost to the economy.
Our next discussion will be on the increase/decrease in prices of materials sold on the market. Our food prices have remained competitive and fairly unaffected through the tax changes. However, due to the temporary 40% region bonuses all our local sellers were producing two times as much. This kept the markets even more so fiercely competitive. Our Weapons market however, was hugely affected by the increase in import tax driving up prices.
Nonetheless congress have proposed a reduction in VAT for food and weapons:
http://www.erepublik.com/en/main/law/Switzerland/101543
http://www.erepublik.com/en/main/law/Switzerland/101498
Our last discussion is about the Country Revenue. We have been watching the country revenue gain more and more money throughout the days which is a good thing. The money raised from taxes serves to provide MPPs as well as supplies to our military. I would like to add that we encourage everyone to join eSwitzerland’s National Army. All you have to do is join (link is below).
http://www.erepublik.com/en/article/-mod-swiss-national-army-enlist-today--1983928/1/20
Thank you for those that read and voted on this first article from the Ministry of Finance.
Ministry of Finance,
Minister of Finance: Patar333
Vice Minister of Finance: Festool
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Comments
yay!
A most EXCELLENT article. Easy to read and understand !
Thank you
Today, Congress has decided to lower the VAT to 15% on food and weapons. The import tax will remain at 25% which is appropriate and reasonable for the exact reasons that Patar mentioned above:
"The import tax of course was increased to reduce competition from exporters and generate more money from imports. This will help to reduce the dependency on imports and boost local economy. In future we will depend on more “home grown/made products”."
Patar333 and his vice minister Festool have done an excellent job as MoF and I hope they will remain involved next month.
Excellent article 😁
o/
egg-celent!!
BIG VOTE o/
o7
o/
I was 3x eSwiss Minister of Finance and 2x eSwiss Minister of Economy. I need to say, this article is ridiculous. Everybody know, that no market exists since admins destroyed it. So, the published prices on the "Marketplace" not reflect the reality. Today, everybody produce his whole production alone, without any "Marketplace" contact. Today, people not need publishing any prices and not need any transactions.
Additional, bots from the administrators are on the "Marketplace" and on the "Monetary Exchange" to compensate the lack of demand. You see the quotation I use, it reflects that the "Marketplace" and the "Monetary Exchange" must be retitled because they not more reflect the real organ.
Whatever, just because this article has some funny graphics with high granularity, it not show more as a ridiculous circus. It show also a weak government structure in long term, if you're not able to publish long term chars, the real matter. Who cares daily changes? nobody. This high fluctuation in this narrow timeframe show additional the incompetence in this Ministry.
I have worked many years for the Curns Group, and the Division for international Exchange, the Swiss Confederation Bank etc. and need to say WTF is this above? An article written from a monkey?
You should more focus in the real problematics, the middle and long term and not light-speed term. People need to know changes in month and half-year cycles and not what happen last 24h LOL. Nobody cares what to hell happen last 24h on the market controlled by the bots!