[MOMC] Information on Tax Changes

Day 1,573, 10:27 • Published in India India • by Dushyanth


This article should be considered as the law for changes in Tax is passed by the congressmen..







For people who don't know about taxes at all...there are 3 types of taxes in Erepublik...

1)Import Tax..
2)Income Tax..
3)VAT

So i'll explain each tax change that is being proposed and the necesary actions to be taken..

1.IMPORT TAX :

This affects the foreigners selling their goods in our country..
ex..A Brazilian wants to earn 1 cc per each Q1 food with 25% import tax and 25% VAT He will have to sell it at 1.5 INR ( .25 for Import Tax and .25 for VAT).

So it affects foreign sellers and not Indians..and the changes are as follows

Food Import tax decreased from 30% to 1%
Weapon Import tax decreased from 6% to 1%

Reason behind the change :
This will encourage foreign sellers to sell in India more ..implies we get more Income.



2.Income Tax :

This Tax is applicable on the salaries earned for work done everyday!!
at present @ 10% Income Tax
if your Salary is 220 INR ..you get only 200 INR and 20 INR is Income tax
Changes:

Decreased income tax from 10% to 1%

Reason:
This will benefit players to keep more money especially new players to spend on firms and companies to grow..!!


3. VAT :

This is the most important change which affects everyone and the most..
VAT is imposed on everything you buy from the market..

ex: if you buy a q1 weapon for 1.1 INR in the market...with VAT 10%
the seller will get 1 INR and the treasury gets 0.10INR

changes :

VAT is increased from 10% to 25%

Reason:
From the data here we can see that more than 94% of the purchases are made by "BOT" ..and the bot buys anything below the botprices..
i.e 0.66* (quality) for food and
6.6 * (qulaity) for weapon..and 0.33 for both the raw materials.

The bot will buy goods independent of the Tax in addition to the above prices..
So with increasing the tax..we are trying to get bot to fill our reserves.!!

Actions to be Taken:

With increase in VAT to 25% you will get only 75% of the money for what you have posted.
Therefore Not to loose any money from what you can get..follow the prices as below


BY making the necessary changes to your prices ..you will not loose anything and the gov. profits will double or even more!!

And if you need the goods you might find them higher than ever before in the market ..not to loose that additional money you can use "IRC" more and strike a deal with normal prices that you can buy!!

Conclusion: These changes in Taxes are made in order to benefit from the BOT,
to encourage more foreigners..and to keep more money with players(income tax)
and finally to increase the usage of IRC by players to interact more with people which is a major part of this game..!!

P.S :Kismu made the necessary calculations that is being displayed in VAT section.