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If the currency in question is run by the government, the demurrage fee can contribute to general tax revenue. In mutual credit systems all positive accounts, or those over a credit threshold, are debited the demurrage fee if there is no trading (purchasing) after a certain period (e.g. a month or year after the last purchase). Typically the ...
Demurrage" / d ɪ ˈ m ʌ r ɪ dʒ / [1] in vessel chartering is the period when the charterer remained in possession of the vessel after the period normally allowed to load and unload cargo . [2] By extension, demurrage refers to the charges that the charterer pays to the ship owner for its delayed operations of loading/unloading. [ 3 ]
Each Wära banknote had a monthly demurrage fee of one percent of its nominal value. This fee could be balanced by the acquisition of demurrage stamps of 1/2, 1, 2, 5, and 10 Wära-cents (1 cent equalled 1 Reichspfennig). On the back of the Wära banknote was a series of printed fields, where the demurrage stamps could be glued onto.
Seigniorage is the positive return, or carry, on issued notes and coins (money in circulation). Demurrage, the opposite, is the cost of holding currency.. An example of an exchange of gold for "paper" where no seigniorage occurs is when a person has one ounce of gold, trades it for a government-issued gold certificate (providing for redemption in one ounce of gold), keeps that certificate for ...
The Audit Board of Indonesia (Indonesian: Badan Pemeriksa Keuangan) is the high state body responsible for checking the management and accountability of state finances conducted by the central government, local government, other state institutions such as Bank Indonesia, state-and municipally-owned enterprises, Public Service Boards, and ...
The first coin-like products found in Indonesia date from the 9th century Buddhist Sailendran dynasty and were produced in Indonesia until the 12th century: gold and silver massa (emas is the modern Indonesian word for "gold"), tahil and kupang, often described with the letter ma for massa or the image of sandalwood flower.
The agency was created in 2011 under the Act No. 21 of 2011 which organised system of regulation and supervision of financial services. It replaced the functions of the Capital Market and Financial Institutions Supervisory Agency (Badan Pengawas Pasar Modal dan Lembaga Keuangan) or Bapepam-LK in short.
Indonesia's taxations system recognises the economic reality of the majority poorer citizens and the poor are exempt from almost any taxation. The underlying ethic of " gotong-royong "- "neighbourly [sic moral] help" is applied where the more fortunate wealthier are enforced to meet their moral obligation of a heavier burden of tax- regardless ...