Economy of Ransenar: Difference between revisions
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The economy of the [[Ransenar|Kingdom of Ransenar]] is primarily focused on services into high-tech, life sciences, financial services, and agribusiness including agrifood. Ransenar is a largely open economy and ranks high on foreign direct investment (FDI) flows, mainly thanks to its access to the [[Raspur Pact]] markets and a close trade relationship with [[Alduria]]. | |||
Following a period of continuous growth at an annual level from 1673-1679, the post-1679 Ransenari financial crisis severely affected the economy, compounding domestic economic problems related to the collapse of the Ransenari agribusiness bubble and a steep reduction in Aldurian agribusiness exports. Ransenar first experienced a recession from 1679 to 1680. | |||
After a year with stagnant economic activity in 1680, Ransenari real GDP rose by 2.2% in 1681 and 2.0% in 1682, mainly driven by improvements in the export sector and an increase in manufacturing and diversification of exports. The economic growth was officially partially ascribed to tax inversion practices by multinationals switching domiciles. | |||
Foreign-owned multinationals continue to contribute significantly to Ransenar's economy, making up 14 of the top 20 Ransenari firms (by turnover), employing 23% of the private sector labor-force and paying 67% of corporation tax collected. | |||
==Economic contributors and measures== | ==Economic contributors and measures== | ||
==History== | ==History== | ||
| Line 75: | Line 84: | ||
==Taxation and welfare== | ==Taxation and welfare== | ||
Taxation in the Kingdom of Ransenar in 1679 AN come from: | |||
*Personal Income taxes (40% of tax revenues); | |||
*Consumption taxes, being VAT (27% of tax revenues); | |||
*Excise and Customs duties (12% of tax revenues); | |||
*Corporation taxes (16% of tax revenues) represents most of the balance (up to 95% of tax revenues). | |||
Ransenar's Corporate Tax System is a central part of Ransenar's economic model. Ransenar emphasizes high corporate tax rates as the most harmful types of taxes where economic growth is the objective. The balance of Ransenar's taxes is covered by Property taxes (<3% of tax revenue, being Stamp duty and local property taxes) and Capital taxes (<3% of tax revenue, being capital gains tax and capital activity tax). | |||
Within Ransenar's taxation system, the most distinctive element is the ratio of net Personal Income taxes on higher earners versus lower earners, which is called progressivity. The top 20% of earners paying 60% of taxes. Economic studies have indicated that the Ransenari average single and average married wage-earners paid some of the lowest effective employment tax rates in the world. Ransenar's Property taxes (Stamp duty and local property taxes) are unlike Irish Income taxes, not overtly progressive. | |||
===Welfare benefits=== | ===Welfare benefits=== | ||
===Wealth distribution and taxation=== | ===Wealth distribution and taxation=== | ||
Revision as of 01:12, 16 December 2019
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This article or section is a work in progress. The information below may be incomplete, outdated, or subject to change. |
Ransenar | |||
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| Currency: | Ransenari erb (R€) | ||
| GDP: | R€ 333.7 billion (1679) | ||
| GDP by Sector: |
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| Unemployment Rate: | 5.8% (1679) | ||
|
| |||
| Industries: |
List industries here. | ||
| Major Industry (% of GDP): | MajorIndustry (TBC %) | ||
| Largest Company (Value): | LARGEST (TBC $) | ||
| Labor Force (% of Total Population): | TBC (TBC %) |
| |
| Fiscal Year: | Anno Nortone | ||
| Budget: | R€79.265 billion 1679 AN, (XX% of GDP) | ||
| Budget Surplus or Deficit: | ▲ +R€0.54 billion | ||
| Inflation Rate: | 1.197% (1679) | ||
| Public Debt: | R€241.4 billion 1679 AN, (XX% of GDP) | ||
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| |||
| Exports: | Exports | ||
| Export Partners: | UGB, Alduria, Shireroth, Elwynn, Natopia, Sanama, Constancia, Wechua Nation. | ||
| Imports: | Imports | ||
| Import Partners: | Shireroth, UGB, Alduria, Natopia, Constancia, Sanama, Craitland, Wechua Nation. | ||
| Reserves of Foreign Currency: | R€4.412 billion (1679) | ||
The economy of the Kingdom of Ransenar is primarily focused on services into high-tech, life sciences, financial services, and agribusiness including agrifood. Ransenar is a largely open economy and ranks high on foreign direct investment (FDI) flows, mainly thanks to its access to the Raspur Pact markets and a close trade relationship with Alduria.
Following a period of continuous growth at an annual level from 1673-1679, the post-1679 Ransenari financial crisis severely affected the economy, compounding domestic economic problems related to the collapse of the Ransenari agribusiness bubble and a steep reduction in Aldurian agribusiness exports. Ransenar first experienced a recession from 1679 to 1680.
After a year with stagnant economic activity in 1680, Ransenari real GDP rose by 2.2% in 1681 and 2.0% in 1682, mainly driven by improvements in the export sector and an increase in manufacturing and diversification of exports. The economic growth was officially partially ascribed to tax inversion practices by multinationals switching domiciles.
Foreign-owned multinationals continue to contribute significantly to Ransenar's economy, making up 14 of the top 20 Ransenari firms (by turnover), employing 23% of the private sector labor-force and paying 67% of corporation tax collected.
Economic contributors and measures
History
Since independence
Goldshirian Tiger (1673-1679)
Economic downturn (1679-1681)
Signs of recovery (1681-1683)
Data
Sectors
Alcoholic beverage industry
Engineering
Energy generation
Exports
Financial services
Information and communications technology
Defense manufacturing and contracting
Primary sector
Secondary and tertiary sectors
Taxation and welfare
Taxation in the Kingdom of Ransenar in 1679 AN come from:
- Personal Income taxes (40% of tax revenues);
- Consumption taxes, being VAT (27% of tax revenues);
- Excise and Customs duties (12% of tax revenues);
- Corporation taxes (16% of tax revenues) represents most of the balance (up to 95% of tax revenues).
Ransenar's Corporate Tax System is a central part of Ransenar's economic model. Ransenar emphasizes high corporate tax rates as the most harmful types of taxes where economic growth is the objective. The balance of Ransenar's taxes is covered by Property taxes (<3% of tax revenue, being Stamp duty and local property taxes) and Capital taxes (<3% of tax revenue, being capital gains tax and capital activity tax).
Within Ransenar's taxation system, the most distinctive element is the ratio of net Personal Income taxes on higher earners versus lower earners, which is called progressivity. The top 20% of earners paying 60% of taxes. Economic studies have indicated that the Ransenari average single and average married wage-earners paid some of the lowest effective employment tax rates in the world. Ransenar's Property taxes (Stamp duty and local property taxes) are unlike Irish Income taxes, not overtly progressive.
