I am fairly new to the game and was just charged income tax of 46,903,363g, and now have a large line of credit.
Now with my revenue being funneled directly into this debt I am finding it hard to purchase the inventory needed to pay this off. I have a remaining loan balance of ~ 28,000,000g and am not sure how get through this.
Does anyone have tips about how to handle this (other than save more cash or put my HQ in a tax free area, as it’s too late for that this time)?
You must have been doing well to get hit with such a big tax bill.
You should request a loan from an investment bank or float a bond or sell stock to raise money. Although, you may need more money than you can raise.
You can request a reset of your account to allow you to start over again, but with the holidays it may take some time to get the reset triggered.
Ah, good thinking. I have requested loans to get things up and running again. Thank you!
It is a brutal lesson that catches almost all new players and hits them just as they are getting momentum. Perhaps in the initial tutorial it needs to be stressed more that the country you put your holding co in has no bearing on game play apart from the tax you pay so carefully selecting its location is critical!
@ KG - if there’s anything I can do, please let me know
Income tax is fairly prominent in the Tutorial (screenshot below).
In the real world, many companies pay their fair share of tax and avoid off-shore tax havens. I don’t think we want to encourage tax evasion
It’s a good lesson in tax implications and cash flow management. Failure is often a better teacher than success.
LOL - it will remain a brutal lesson coz most will skim over that without understanding the massive disadvantage against returning players. Could we just add here in bold “You should choose it’s location carefully” It also hit’s them just after they are starting to find their way in the game and often leads to them giving up.
One other thing - I have posted before that the calculation of profit is flawed and I’m quite certain it still is. Can you please re-visit that code to ensure that it’s not double counting profits somehow??
What makes you think profit calculation is flawed?
Profit = Income minus expenses minus cost of goods sold.
Actually I take it back. I recall dismissing it as flawed when I got a tax bill that said I’d made over 20 billion but I’ve just been looking through the reports and it may well be fine. My apologies
that’s why my holding is in myanmar and my companies are in India