THE CRESCENT
NEWS FROM PACKILVANIA
11 SEPTEMBER 2022
NO MORE TAX WRITE-OFFS FOR ART DONATIONS
FUKRAM WASAILPRINCES LOSE TITLES AND PAYMENTS
PAJEER DUHAVID
The government has announced that donations of art works shall no longer be tax deductible. After an extensive study was conducted by the Ministry of Finance, it was discovered that wealthy people were able to get considerable write-offs on their tax obligations for donations of art works. The government evaluated over 1,000 art sales and found that on average, the buyers of art works were able to make considerable profits from tax deductions. This comes on the heals of petitions by the Centre for Combating Money Laundering and Tax Fraud (a charity and non-governmental organisation) to the government that because art had no intrinsic value, the prices were arbitrary and grossly inflated. Estimates by the Centre for Art Market Research found that the Packilvanian art market was expected to collapse in value by 30% to 70%.The government has passed a new law that the Civil List will no longer cover Princes of the Realm and their families who are not descendents of Lord Gurion Bedon. Lord Gurion was the father of Sultan Amhoud I. His siblings and their descendents were made Princes and all of them were entitled to a government Stipend. Many of them started working for the government and private sector. Thus, the government felt that they no longer needed the funds. Furthermore, very few of them were conducting official duties for the monarchy. Thus, the government felt it could no longer justify the expense. The government said that it will continue to provide pensions and disability checks to eligible Princes and their families. It has also announced that any further descendents of current Princes outside the Gurionic branch of the Bedon family will no longer be afforded the titles and style of Princes.