European Tresury Act 2007

  • Pursuant to the Constitution Act, the bill: European Treasury Act 2007, has been moved into the voting stage.

    The bill, as submitted by the Office of Economics reads:

    European Treasury Act 2007

    Title I

    Section I
    Levying Taxation

    Article I
    The Office of Economics for the European Union shall have the power to collect taxes levied by the European Legislature.

    Article II
    The Office of Economics shall not have the power to tax distinct from that of the European Legislature, or Union as a whole.

    Section II

    Article I
    Member states of the European Union shall comply with all mutually binding Acts of the European Union, including subsequent taxation, unless otherwise stated in an individual Act thereof.

    Article II
    Individual member states shall have the option of collecting valid taxes through means outlined in relevant Acts, or may opt to contribute an equivalent amount of funds from the treasuries of such governments.

    Article III
    All non-compliance with Acts of the European Union shall be punishable by the European Courts System.

    Article IV
    The European Courts System shall have the power to fine the governments of member states found to be in contempt of Acts of the European Union.