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Erepublik International News has found some interesting facts when researching the Irish president’s latest endeavor. The first few paragraphs deal with the background, so read the whole article for the full picture. Sources and links are available at the end. Note: The bulk of this article was written three days ago, hence the dates mentioned throughout the text below.
 In the August 1st general election, Victor Petrescu was voted the President of Ireland. He was heavily criticized for lying to the Irish people about not coming from an organized group, which he admitted once he had been installed in the presidential office. He has also been accused of winning the election through multi-accounting.
August 5th, day 260, Petrescu announced that he has decided to make Ireland “the first Low Taxes Country”. The reason to do this he says, is that the competing political powers, who own most companies in Ireland, are trying to hurt the new government by refusing to put their products on the market for sale. Petrescu will achieve this by lowering VAT (income tax) and import taxes, hoping to make foreign customers move to the country, do their shopping and then move back home.
When Erepublik International news scanned the Irish market, we found that it’s rather empty, the food section being an exception. However, at the time, we found only three Irish companies, the rest being foreign businesses with export licenses. When messaging a few of the company owners to inquire as to why they bought their export license, we came across the simulated organization (commonly known as SO) dydyy_SO, based in Romania.
The profile information claims that the owner of dydyy_SO is its namesake dydyy. Yet, a quick search reveals that no such player exists in Erepublik. This leaves us with one name only, listed in the profile as the SO’s manager; Victor Petrescu.
Petrescu’s SO account holds three companies, including ® Continental Ursus Breweries Inc., the mentioned food company with an Irish export license. Taking a look at company statistics, we found that the first piece of food sold to the Irish market was sold on August 3rd, only two days after Petrescu had gained presidency. By looking at the order in which the flags on the company profile, representing each export license, are listed we see that the Irish license is the most recently acquired. By adding these two facts together, we come to the conclusion that it is very likely that the license was bought either on, or a few days before, August 3rd, only two days before announcing the new low tax Ireland.
We sent a few messages to workers in the company, asking how much they get paid. It turns out the employees have been instructed to keep their payment secret, as the first few replies told us that their salaries were confidential, but not everyone seemed to be aware of this. One worker replied and willingly revealed that he gets paid 21 RON/day without bonuses and 24 RON/day including bonuses. When these bonuses are paid, we do not know.
Looking at the dates of each employee’s last day present at work, there seems to be around 20 people turning up each day. Not including bonus payment, we get a rough total daily salary of 420 RON, or 8.4 Gold
Now we take a look at sales figures, through the company statistics page. ® Continental Ursus Breweries Inc.’s biggest market is Romania. There the company has sold 305 products this month, as of August 6th, for a total value of 540.14 RON, or 10.8 Gold. This means the companies average income per day so far in August is 90 RON, or 1.8 Gold. While the company does own several export licenses, all except one do not increase sales figures note worthily.
The exception: Ireland. The first four days of business, August 3rd to 6th, ® Continental Ursus Breweries Inc sold 287 products. This averages 72 per day, which is 20 products more than the average sales in Romania. Keep in mind that these are numbers from before the low taxes bill has come into play.
Judging by current exchange rates of both currencies, the IEP is worth just below half a RON. Knowing this we can add sales numbers from both markets and get a trustworthy number for total income. Adding the Irish sales we end up with an average daily income around 115 RON. If we add further the very limited in other countries, we get an average income of roughly 125 RON, which equals 2.5 Gold, August 1st to 6th. 20 %, 0.5 Gold, of this income comes from the Irish market, which ® Continental Ursus Breweries Inc. didn’t begin acting in until August 3rd.
® Continental Ursus Breweries Inc. appears to have expenses of roughly 400 RON/8 Gold per day and sells products for less or around half that number is obviously not positive for the company and Petrescu personally. By looking at dydyy_SO’s donation’s list and adding up all the donations which comes from and goes to Victor Petrescu, we find that dydyy_SO has donated a total of 370 RON (equaling 7,4 Gold) to Victor Petrescu. Petrescu in turn has donated a total of 3341.63 RON and 46.31 Gold to dydyy_SO. The combined Gold value of the donations to the SO totals 113.1 Gold.
Keep in mind though, that ® Continental Ursus Breweries Inc. is not the only company owned by dydyy_SO, so one should not assume all this money has gone directly to that company.
On August 7th Petrescu announced that Ireland would be buying back the IEP (Irish currency) foreign companies earn in Ireland, so that they’d be able to turn their earnings into actual valid profit; gold. Technically this means that the president can decide himself how much he wants his company to make, almost regardless of how much it sells, since the president decides what exchange rate he will buy the IEP at.
If the president’s plan works and foreigners move to the island just for the sake of shopping, that would most likely mean a big increase in sales for his own company.
What Erepublik International News can say for sure however, is that the SO account is not a legal account. On the profile page we see something that shouldn’t be there. Under the headline “Political activity” we’re informed that dydyy_SO is a former member of the Romanian party UGD, eUniunea Gamerilor Democrati, a party which ex-Romanian Victor Petrescu has a history in, as evidenced by his profile page. This doesn’t sound alarming until you read the SO rules. Here follows an excerpt from the post by admin, in which the SO rules were presented:
“An organization entity account cannot: 2. join a political party EVERY ORGANIZATIONAL ENTITY (SO) MUST HAVE AN ECONOMICAL ACTIVITY. If a SO account does not respect these rules it will be permanently banned.”
We can also confirm that Victor Petrescu was well aware of these rules as Petrescu has been involved in the SO ever since it first came into business. Proof of this we find in the thread “=SO CREATION=”, where all new SO:s are to post and announce their purpose and owners. On June 2nd, one day after the account’s creation, dydyy_SO announced itself with Victor Petrescu as the owner. This post can be found on the threads second page.
We asked Michael Collins, former president of Ireland and party leader of Ireland First if he would like to comment on the matter: Well I"d like to say that it is obvious to anyone experienced with erepublik that his no tax country will fail. His plan is to turn our country into his personal eBay, where he profits from all the trading, while destroying our businesses. He has threatened to print billions of currency if we don"t obey him. About his SO joining a political party, I don"t really know about that and think it might of just been a mistake.
Victor Petrescu himself has not responded to our attempts to contact him. Two messages regarding the article have been sent on separate occasions. Petrescu has read both of them, but has not replied.
This concludes Erepublik International News’ story on Ireland as a low tax country and the president’s shady business career. We hope you enjoyed this in-depth report and if you did, be sure to check back for more interesting stories! Lastly, I'd like to direct a thank you to Ziggyzag, for correcting a few os my mistakes. Reporter: Danny Sources: “Ireland” – Forum section “Politics” http://www.erepublik.com/forum-topic-53091.html “The first Low Taxes Country” – Forum section “Economy” http://www.erepublik.com/forum-topic-54441.html “=SO CREATION=” – Forum section “Contracts” http://www.erepublik.com/forum-topic-32931-0.html Links: dydyy_SO http://www.erepublik.com/profile-443391.html ® Continental Ursus Breweries Inc http://www.erepublik.com/company-53972.html Screenshots: dydyy_SO – Owner and political past http://i37.tinypic.com/4t3puf.jpg http://i33.tinypic.com/ke80tu.jpg dydyy_SO – Announcement post http://i35.tinypic.com/6h40sz.jpg
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