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Recognition
Recognition terms and conditions
• The interest-free complementary currencies of CORESA are recognized as additional legal tender.
• Institutions of CORESA are exempt from any banking or financial transfer laws because the system is not connected to the central bank and private banks.
• The institutions and participants of the CORES-platforms are exempt from tax and contribution laws at payments with complementary currencies because there is an own taxation system.
• The CORES-platforms have an internal automatic taxation system where also the government benefits by credits.
However, tax renevues shall be used for the repurchase of zero-bonds as long as they exist.
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Registration and Recognition Agreement
For members of the government only!
Any Nation, state, region and large city worldwide is welcome to register.
A personal registration is required first: Personal Registration Form
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Conditions for debt elimination
Elimination of interest-demanding public debt (recommended)
• Interest-demanding public debt can be repaid by introduction of the value-added exit tax, thus direct repayment of bank debts.
• Central bank: All government bonds in possession shall be converted to zero-bonds without maturity or changed to interest-free debt.
• All government bonds in other possession shall be outsourced to CORESA by conversion to zero-bonds without maturity.
• When tax renevues from exit VAT are paid in, zero-bonds are repurchased for the amount. The received funds are used for withdrawal requests.
• Equal budgets are required in the interest debt money currency from that moment however required expenses can be paid via the CORESA-platform in public inflation currency (100% issue gain).
• Public financing of companies with the public inflation currency by consent; upon repayment, the government receives a 10% share of the income. |
Tax adjustments for the debt elimination
Banks and other institutions providing current accounts need to adjust their software for this automatic taxation.
1%, 4% or 10% Value added exit tax (automatic, interest debt money only)
Applicable at money transfers to business in other states:
1% to neighbouring and related states (same nation, language, currency), 4% same continent, 10% other continent;
The tax revenues are proposed primarily for a continuous repayment of the converted goverment bonds.
Advantages:
• No tax avoidance and evasion anymore by moving funds offshore.
• Foreign products become more expensive, this helps the domestic market.
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Conversion of interest-bearing government bonds
Registration of holders of state bonds (other then the central bank)
The government needs to contact all creditors to demand that they register at
After registration they need to forward their investor number and BH-Name to the government.
Registration of the converted state bonds
The state bonds will be converted to zero-bonds and added to the proposed bondholder.
The zero-bonds do not have an expiry date. However they can be terminated (re-purchase) or converted.
The actual debt repayment guarantees that the bonds can be re-purchased on an ongoing basis.
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