China

(Draft Bill)

China to join the EU

One China, Two Systems

Universal Basic Income for under age 16 is paid to legal guardians

¥60 (€7.50) an hour minimum wage (including gig work)

20% consolidated flat tax over ¥24,000 (€3000) a year (with double taxation)

20% corporate tax on profits

20% value added tax tax on each stage of sale (paid quarterly)

20% value added tax on imports

VAT tax registration over ¥24,000 (€3000) a year

Sole trader registration over ¥24,000 (€3000) a year

Recreational drugs are decriminalized

Estimated Revenue: €18 trillion a year (€1 trillion surplus a year)