Editing Taxation in Laeral (section)

===Personal Income Taxes===
Individual income tax is the primary source of income for the Laeralian government. Federal income tax was first introduced in 1935 on certain classes of professional occupation, and the first universal national income tax was instituted in 1962 to help fund the [[Great War]]. The income tax rate is assessed progressively, with the lowest rate set at 0% and the highest income bracket paying 46%. Deductions are available for children, but since the 2014 tax reform, not for marriage, which has been criticized by social conservatives as incentivizing parenthood outside of marriage. Roughly half of Laeralians pay no personal income tax after deductions are taken into account.

Portions of personal income taxes are earmarked for social spending, including the General Health Service (Service de Santé Générale, SSG) and the National Retirement Fund (Caise Nationale de Retraite, CNR). The remainder of personal income tax flows to the general budget. Income taxes are customarily withheld by employers to facilitate income tax payment. There is no separate capital gains tax, but capital gains from financial transactions are taxed as income. 
[[File:Conveniencestore.jpg|thumb|right|Goods and Services Tax is levied on all goods produced and sold in Laeral.]]