New Endralonian Compensates Victims of Nationalisation
Government finaly appologises for nationalisation of 4047 & 4075
Cetatea Albă, 23 November 4104
The government of the Confederation of New Endralon, Kizenia and Kuzaki finaly appologises for the nationalisation of all businesses, especially to those of foreign countries. The conservative government led by the New Endralonian People's Party has over the course of their now 23 year rule slowly privitised the economy again after 40 years of socialist rule. The nation never offered anyone from outside the country and compensation due to the high costs of the privisation, refunds and compensations.
The Ministry of Trade and Industry headed by Minister Bernát Kedves has send letters to all listed corporations and businesses who lost their business to the nationalisation. They are all offered a deal to regain lost property and gain a monetary compensation for lost profits or/and lost goods, further damage or bankruptcy due to the nationalisation will also be compensated with 50% monetary and the other 50% in government bonds. On top of that, all businesses that return to the Confederation will be given a 10 year tax reduction on the already low corporation tax and will only pay 10%.
The minister, when asked about the deal had this to say: ''It is important that people understand that you cant go around nationalising your economy. In the long run it brings distrust towards our nationas economy and hurt our citizens who those darned socialists tried to aid. I wish to state that all people and corporations are invited back to invest in our country and do business in our country. We are a safe and free market nation for the past 23 years now. Take up our deal, reclaim what you have lost and let us prove that we have the best interests at heart for businesses and people's properties.''
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Refund Office for Losses of the Nationalisation
In name of the Government of the Confederation of New Endralon, Kizenia and Kuzaki we appologise for the losses you have thanks to the former socialist government's nationalisation. We offer the following deals to recompensate your losses and hope to win back your trust in our government and our economy.
The deal is as followed:
For businesses / corporations:
- Corporations / businesses can regain lost property if they so wish.
- The goods they lost will be compensated by the government in the form of 50% in monetary refunds and 50% in statebonds.
- Lost profits will only be refunded up to 25% of the lost profits. The government wishes to repay more but It cant.
- Damage, bankruptcy will also be refunded in the form of 50% in monetary refunds and 50% in statebonds.
- Corporations /businesses wont have to pay corporation tax the first year of returning and after that they pay 10% corporation tax for the next 10 years.
For investors, shareholders and banks:
- All loans held in corporations that were nationalised will be taken on by the Confederal government.
- All shares in New Endralonian corporations, sister companies, subsidiaries etc. will be given back to their rightfull owner if they claim them, if not they will be sold to the market.
- All investors that lost money can reclaim it. If it goes above the 100.000.000 NED then the state will offer the rest in statebonds.
- If national governments of the origin country of the investors, shareholders or banks tax the returned capital the government will pay that tax for them.
The Nation is open for negociations if these terms are not good enough. Please state your claim here.
- The Ministery of Trade and Industry & the Ministery of Foreign Affairs