A taxation system must be both just and practical, to ensure that no section of society is forced to pay an unreasonable, or a too little amount of tax. Fascism is not bound by left wing, or right wing economics, instead fascists can take the middle ground between the two. It is important not to tax the wealthiest too heavily as unreasonable tax bands cause a lack of investment, and industry, as wealthy people will leave, which is bad for economic growth. It has been proved that most people are willing to pay tax if they believe they aren't being exploited by the government. The New British Union proposes that we reduce the corporation tax that many companies pay, if they agree to pay all their employees a living wage, which shall be determined by the state. This will reduce the need for the government to pay housing and social benefit to working people, as with a living wage they will be able to afford basic living costs, while having extra to spend on luxuries. If corporations refuse to cooperate, then their corporation tax shall be raised, and tariffs placed on their goods. The money gained through these deterrents will be distributed to the company's employees, to ensure they are paid a living wage, and any excess shall be reinvested into nationalised corporations, such as the National Health Service.
The New British Union will also raise the tax free allowance to twenty thousand pounds, and all income over said amount shall be taxed at a set rate of thirty to forty percent depending on the economic situation. However the tax rate will not be raised over forty percent as it will cripple industry, and private business which should be encouraged, and with a living wage implemented, there should be scope for leniency with tax. Although it is important to note that any company executives or persons who are found to exploit the taxation system shall serve a prison sentence. This is because tax avoidance is unpatriotic, as said persons are potentially limiting investment into the armed forces, and other nationalised services. Tax-evading individuals who are deemed to be "successful" by the state, will aid in running nationalised companies during their stay in prison, as they can attempt to give back to the British people, who they have conned, rather than sit in a cell, which is both pointless and unproductive.
Foreign companies shall be taxed at a rate of forty-five percent, and will have to apply for an annual licence to sell goods, and to employ workers in Britain. The licence fee shall be set by the government, and the price will be determined each year according to the economic situation. Fees will also vary between foreign businesses, if a foreign company appears to be undercutting a nationalised company, or if there is a gap in the market, where a foreign company is the sole provider of services. This additional tax for foreign corporations allows British products to be sold cheaper, therefore becoming more popular, and this will eventually eliminate the foreign monopoly on certain industries, and also the foreign influence in British trade. British companies should be the sole providers of most goods, so that we are no longer reliant on foreign imports. A reliance on foreign imports is problematic, as they can be cut off if sanctions are placed on Britain, which would be likely under a fascist government, due to the Marxist European Union. Currently the UK can provide enough food to feed its population until Easter, and then we rely on imports, leaving us at the mercy of other nations. A self-sufficient country is one of the largest fears of rival nations, for example Russia. Russia can ignore economic sanctions as it provides most of its produce naturally, leaving rival nations powerless to starve it into submission. This leaves its rivals with military action as the only way to stop Russia's advances into Europe, which most Western Nations are reluctant to do. This results in Russia continuing its invasion of Europe, and ultimately beating the West. So the influence of foreign goods must be reduced, and British goods promoted, or Britain could be held to ransom by other nations.
Small businesses will be allowed to seek tax relief if they have had an unsuccessful year, however this will only be granted on a case by case basis, and to qualify sufficient evidence must be provided. To avoid exploitation of tax relief any business who frequently applies for said concession, will be investigated and dissolved, due to its cost to the state,unless it provides a vital service. This is because citizens must acknowledge that not all business is viable, and while the government will try to be fair, most uneconomic practices are not beneficial to society as a whole.