China

(Draft Bill)

China to join the EU

One China, Two Systems

€1000 monthly Basic Income per citizen under a €12,000 yearly income

€10 an hour minimum wage (including gig work)

20% consolidated flat tax over €6,000 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 €6,000 a year

Sole trader registration over €6,000 a year

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