http://www.civitas.org.uk/wordpress/2009/03/20/what-the-eu-can-do-to-tackle-the-global-recession/ Daily commentary from Civitas researchers Wed, 22 Feb 2012 23:39:34 +0100 http://wordpress.org/?v=2.8.6 hourly 1 http://www.civitas.org.uk/wordpress/2009/03/20/what-the-eu-can-do-to-tackle-the-global-recession/comment-page-1/#comment-792 ian josephs Tue, 24 Mar 2009 20:38:04 +0000 http://www.civitas.org.uk/wordpress/?p=815#comment-792 I own and run a language school in Monaco and admire a fiscal system that encourages enterprise and small businesses instead of stifling them! No income tax,no company tax (if business is conducted principally in Monaco),no inheritance tax from parent to children; So where does the principal revenue come from? No not gambling (only about 3%) it comes from TVA (VAT),around 60% payroll tax( born mostly by the employer) which the State divides up between various public services such as first class health service (no waiting lists ),firemen,police ,dustmen,etc etc and quite heavy taxes when one buys,sells,or rents property. Changing to this type of system would not get Europe out of the present mess but it would I reckon be more than enough to prevent a similar situation arising again ! I own and run a language school in Monaco and admire a fiscal system that encourages enterprise and small businesses instead of stifling them!
No income tax,no company tax (if business is conducted principally in Monaco),no inheritance tax from parent to children;
So where does the principal revenue come from?
No not gambling (only about 3%) it comes from TVA (VAT),around 60% payroll tax( born mostly by the employer) which the State divides up between various public services such as first class health service (no waiting lists ),firemen,police ,dustmen,etc etc
and quite heavy taxes when one buys,sells,or rents property.
Changing to this type of system would not get Europe out of the present mess but it would I reckon be more than enough to prevent a similar situation arising again !

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