5% Transaction Tax
The State shall collect from all “Taxpayers” (personal or corporate) a five percent (5%) “Transaction Tax” on all daily inflow and outflow transactions within the State, from within the State or to or from any jurisdiction under its control worldwide and from such transactions between the State and any other Country or jurisdiction worldwide.
The 5% transaction tax minimizes any need for tax increases due to macroeconomic inflationary factors and allows corporations more confidence when planning for long-term budgets, wages, business growth, and investment.
The personal tax will not apply for transactions to different bank accounts held personally by the “Taxpayer” or to or from its immediate family members for personal use ONLY. Any transaction amounts over US$500,000.00 may be considered taxable.