Taxation

The Government, in its wisdom, believes that Taxation should come from Natural resourcesVisitors,and Trading partners, but not from its own people.

 

This stems from the original Western Settlement of Fortunata – where wealthy traders attempted to set up a tax haven.

 

So now, the majority of taxation is on those companies that wish to use the natural resources. Everyone else is effectively tax free, except for some large luxury goods that the the government wishes to limit.

 

There is no income tax, property tax, sales tax etc… so the layers of government are much fewer and the policing of the tax apparatus requires a Taxation Department consisting of eight people.

 

Of course Fortunata exports almost all of its ore to other countries, so the income from exports equates to the country’s Gross Income.

 

There are other exports that make money for the government, taxes on ‘Gresso Artworks and Publications’ have been exceptional in recent years along with taxes on IT companies that want to use their international web address (.FU) or be established in a remote region that is serviced by more satellites per capita than any other country on earth.

 

The Rare Earth industry first established in the country in the 1970s has also skyrocketed for the tiny island group, netting billions in recent years.

 

If the country wishes to undertake large infrastructure growth as they did when they rolled out high speed internet to every business and household free of charge, policy dictates that increasing trading agreements is preferred over increasing prices or limiting production to inflate prices.

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