Tivot Sandwich: Difference between revisions

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Originally it built on the core strengths of Tivot as a nation such as political stability, proximity to major markets and its strong transshipment industry. Furthermore, through the [[Auroran Continental Assembly]], the country was able to gain greater access to the markets of the [[Aurora|Auroran]] continent. Although Aurora experienced tumultuous situations namely the [[Auroran-Pacific War]], the treaties and laws of the Auroran Continental Assembly were carried over to the UNAC, enabling the country to become a major financial centre and it turn cement the Tivot Sandwich. Although other countries have BEPS tools, they do not have the geography, history, politics and legal system and geopolitical clout to accomplish what Tivot achieved with the Tivot Sandwich.

==Overview of ~~UNAC~~ law==

==Overview of tax, company and property law==

The Tivot Sandwich makes use of a combination of company, tax and property law. This law arises both through domestic legislation as well as through bilateral or multilateral treaties between nations.

Taxation falls within the powers of member states. Thus member states have the power to enter into or exit from treaties with other nations regarding how taxation will be handled between nations.

In general, almost all UNAC member states charge some form of the following taxes:

Although the nations of the world are diverse and have many differing legal systems, almost all of them possess some of the basic features described below. The first is that most nations charge taxes especially the following to generate revenue for their governments and to regulate sectors of their economy:

* Personal income tax is charged on the income made by natural persons.

* Corporate income tax is charged on the profit generated by for-profit companies.

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Different countries charge different amounts of these taxes and have different rules for how they are to be paid. Some nations offer exemptions on the above taxes depending on the situation.

In ~~all UNAC~~ nations there are at least two class of legal persons: natural and juristic. Whereas natural persons refer to living sapient creatures, juristic persons refer to organizations of natural persons. These are typically characterized by perpetual succession and they can exercise all the rights of a natural person unless explicitly barred or it is not feasible for them to do so. Most countries have the following juristic persons:

In most nations there are at least two class of legal persons: natural and juristic. Whereas natural persons refer to living sapient creatures, juristic persons refer to organizations of natural persons. These are typically characterized by perpetual succession and they can exercise all the rights of a natural person unless explicitly barred or it is not feasible for them to do so. Most countries have the following juristic persons:

* Companies are commercial entities. They have shareholders who have control over the company in terms of its founding rules. Shareholders control the equity of a firm and get paid in dividends according to the number of shares they have in the business.

** Personal liability limited companies are those in which the shareholders are not personally liable for the debts or actions of the businesses.

@@ Line 3: / Line 3: @@
 Originally it built on the core strengths of Tivot as a nation such as political stability, proximity to major markets and its strong transshipment industry. Furthermore, through the [[Auroran Continental Assembly]], the country was able to gain greater access to the markets of the [[Aurora|Auroran]] continent. Although Aurora experienced tumultuous situations namely the [[Auroran-Pacific War]], the treaties and laws of the Auroran Continental Assembly were carried over to the UNAC, enabling the country to become a major financial centre and it turn cement the Tivot Sandwich. Although other countries have BEPS tools, they do not have the geography, history, politics and legal system and geopolitical clout to accomplish what Tivot achieved with the Tivot Sandwich.
-==Overview of UNAC law==
+==Overview of tax, company and property law==
+The Tivot Sandwich makes use of a combination of company, tax and property law. This law arises both through domestic legislation as well as through bilateral or multilateral treaties between nations.
-Taxation falls within the powers of member states. Thus member states have the power to enter into or exit from treaties with other nations regarding how taxation will be handled between nations.
-In general, almost all UNAC member states charge some form of the following taxes:
+Although the nations of the world are diverse and have many differing legal systems, almost all of them possess some of the basic features described below. The first is that most nations charge taxes especially the following to generate revenue for their governments and to regulate sectors of their economy:
 * Personal income tax is charged on the income made by natural persons.
 * Corporate income tax is charged on the profit generated by for-profit companies.
@@ Line 12: / Line 13: @@
 Different countries charge different amounts of these taxes and have different rules for how they are to be paid. Some nations offer exemptions on the above taxes depending on the situation.
-In all UNAC nations there are at least two class of legal persons: natural and juristic. Whereas natural persons refer to living sapient creatures, juristic persons refer to organizations of natural persons. These are typically characterized by perpetual succession and they can exercise all the rights of a natural person unless explicitly barred or it is not feasible for them to do so. Most countries have the following juristic persons:
+In most nations there are at least two class of legal persons: natural and juristic. Whereas natural persons refer to living sapient creatures, juristic persons refer to organizations of natural persons. These are typically characterized by perpetual succession and they can exercise all the rights of a natural person unless explicitly barred or it is not feasible for them to do so. Most countries have the following juristic persons:
 * Companies are commercial entities. They have shareholders who have control over the company in terms of its founding rules. Shareholders control the equity of a firm and get paid in dividends according to the number of shares they have in the business.
 ** Personal liability limited companies are those in which the shareholders are not personally liable for the debts or actions of the businesses.

Tivot Sandwich: Difference between revisions

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