Article 1: All citizens and resident aliens shall be taxes at the following levels based on one calendar year of income. Income is
defined as wages and salaries, interest from money market accounts, and banking accounts.
Article 2: Goods imported from other countries shall be taxed at no less than 7 percent of their value. We shall reciprocate,
however, any tariff that is higher than this. Exported goods shall be taxed at no more than 2 percent of their value.
Article 3: All corporation or businesses owned privately, or collectively, shall be assessed taxes based on net profits. This tax
shall be set at 8 percent.
Article 4: Taxes shall be assessed on capital gains of ~1 million or greater at 7 percent. Capital gains shall include profits made
on stocks and bonds, and in real estate used in a trade or business. Capital losses may be claimed up the amount of capital gains
in any year. Any loss amount left over may be carried forward to the following year.
Article 5: All employers shall withhold taxes from employees and make quarterly payments to the Bank of Cyberia. This quarterly
payment will also include the employer's share of corporate tax payments.
The Chairman of the Finance Commission shall be the Minister of Treasury unless otherwise directed by the President.