Tivot Sandwich: Difference between revisions
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==Overview of UNAC law==
{{Main|Auroran law}}
The UNAC succeeded the ACA and the [[Auroran Union]] in 2017 following the passage of the ''Charter of the UNAC'' at the [[Auroran Reunification Summit]] which was held in [[Aura]], [[Emberwood Coast]] at the invitation of President [[Nimona Poole]]. In that process, laws and directives passed under the AU and ACA were incorporated into the Auroran statute books insofar as they were not repugnant to the new treaty. Furthermore, treaty obligations referring to taxation, companies and IP rights remained in force despite disruptions caused by the APW. Furthermore, through the passage of laws by the [[Council of the UNAC]] and [[Auroran Parliament]], the taxation, company and IP laws of the continent have matured. Moreover, UNAC laws can be scrutinized and are enforced by the [[Auroran Court of Justice]] whose power to set precedents adds to Auroran law through case law.
The basic tenets of the shared law of the member states of the UNAC is as follows:
* '''Double taxation:''' A company originating in one UNAC member state and conducting business in another cannot be taxed in both jurisdictions for the same transaction.
* '''Corporate freedom''': Natural and juristic persons of member states should not be arbitrarily restricticed from establishing or owning shares in companies in member states. Juristic persons in one country that are lawfully registered shall be recognised as valid entities with respect to domestic and UNAC law.
* '''Cross-national
* '''Cross-national recognition of IP''': Patents and other relevant forms of IP registered in one member state shall be recognised insofar as a novel creation of similar nature has not been registered in another member state. Natural and juristic persons shall have the right to exercise and enjoy property rights with respect to IP in member states as long as that IP is lawfully registered.
These basic tenets are exploited by the Tivot Sandwich to create
==Overview of Tivot law==
The Republic of Tivot is a member state of the UNAC and is thus subject to the laws of the UNAC insofar as these laws are applicable to it. Thus, it also accepts the jurisdiction of the ACJ. The legislative branch of Tivot consists of the elected National Senate. It passes laws which are in turn executed by the executive branch composed of the Chief Executive and other executive officials.
Tivot law shares many of the features of taxation, company and IP law described in the previous section (refer to the section on [[Tivot Sandwich|Overview of taxation, company and property law |Overview of taxation, company and property law]] for more information). Tivot's corporate tax rates are some of the lowest in the UNAC and is one of the easiest countries in the UNAC to establish a company. Tivot also protects the privacy of juristic and natural persons, enabling juristic persons to conceal a lot of information about their internal operations, beneficial owners (natural persons who are the ultimate beneficiaries of the company) and financial transactions from the public and foreign governments. Furthermore, the government of Tivot tries to ask as little information from companies as possible.
==Mechanisms of the Tivot Sandwich==
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