The U.S shouldn’t be able to tax 25% of your equity, not only that, but they can’t tax your income at all unless you are are a foreign company, non-residential aliens, or U.S citizens working between borders (working at mexico and going back to U.S) Chapter 3 in the tax code, it specifically said only and only those types of tax-payers are forced to pay taxes.
I think you may be mistaken. Companies located in the US are subject to income tax. Income tax is primarily charged on Net Profit (not Equity).
Companies NOT located in the US are normally not subject to income tax. Location of offices and employees can make a company subject to tax, even if the head office is not located in the US.
Tax is complicated. In any event, GoVenture World charges income tax based on the location of your Holding Company.
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Companies in the US aren’t subject to income tax because they aren’t considered as U.S citizens working for foreign currency, non-residential aliens, and foreign company that works in U.S. The only reason why is because the tax laws explicitly said those three categories.
It in fact is the exact opposite of what is happening right now. This means the U.S never had a tax on a U.S Citizen that works only in the U.S, but taxes are applied on foreign companies that work (export/import) for/with/in the U.S.
I’m saying this because we don’t have R&D tax credits, and we don’t have a good tax system, or doesn’t accurately show representation of the business world. I think you guys should focus on realistic controls like making buildings possible, or real estate a thing instead of making new features that doesn’t make sense (Like how people can control taxes if they vote for it).
Make the controls simple, but hard or realistic like being able to control a character from birth and be able to work for other companies made by players and government, or get education. I say this because this game is goventure world, not goventure strategies.
Sorry got away from the point, but I’m saying is that how come we don’t have an ability to pay our taxes in our own way instead of being forced to pay it? And why we can’t settle taxes to be waved because of that current country’s tax laws. I say this because instead of forcing people to pay taxes, why not let them solve their actual tax problems and teach them how to take advantage of tax deductions and other benefits?
This would make business knowledge more advanced, because if you are able to settle taxes against the government, you don’t have to pay taxes, but maybe be paid taxes because of the knowledge.
I’m not sure if I’m understanding what you have written above, but it is 100% certain that US companies are subject to paying business income tax to the US government. I’m talking business income, not personal income (and you may be talking about personal income).
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Players in GoVenture World are not treated as “individuals” they are “businesses.” The objective of the game is not to provide the experience of being an individual, so that’s why we do not have features for working for other companies and such. That would be more of a life simulation and we actually have a separate product that does that called GoVenture Life & Money.
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In GoVenture World, the location of your Holding Company determines which country for which your income tax is applied and it is based on the income tax rate of that country. The tax rates are based on real-world income tax numbers.
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The game forces the payment of taxes because if it did not, many players would not pay. Expanding the tax options is unlikely to be a desired feature for most players, compared to other features that expand the business operations and investment options.
I hope that helps explain how it works.
Actually its false, its like how amazon doesnt pay taxes, instead gains money from tax benefits. I forgot to mention, goventure life and money doesn’t accurately explain teamwork. When I said working as an individual, I meant as an individual who works with other individual (Like network marketing).
In fact, people don’t need to pay taxes in the U.S because of the flaws of the tax codes. Its like how the U.S cant force other people from other country to pay taxes, it applies to each country.
Even this video says it, https://www.youtube.com/watch?v=UzpCWkCpwjw
The person in the video has no credentials, but when I personally researched taxes and the law. I found out he wasn’t lieing, I did my personal research and he explicitly said that he had no credentials, but he was still credible because he cited the law that supports his ideas.
Its like a theory, but using only the product itself to make a theory. He had zero credentials, but he showed the product’s point of view. This means, you never pay taxes unless you fit on those three category.
This is true because according to the IRS, they only sued 800-1000 people in the U.S out of 300 million people. This means that every case that the IRS had, the people who were targeted didn’t have proper defense in law (like the big wolf picking on the small ones.). Not only that, but the statistics were around 2010-2012. After the statistics, the IRS stopped posting the statistics.
The game which you guys made, doesn’t show everything like depreciation, R&D, or appreciation. They don’t even teach you how to become a hedge fund company or to use hedge funds. The only thing they taught, is how to use or apply a loan or to work in a company that is owned by the government.
The game itself isn’t even online, unless you are in a group setting. This makes leadership and other skills non-existant.
It doesn’t matter if many players don’t pay taxes, because if they are taxed 50% of their equity and go bankrupt, they will not play the game anyways. In fact, happens in the real world, if people needed housing and if companies don’t make housing, it doesn’t matter if they want it or not because they need it to survive.
I think we should make goventure world more like goventure life and money, but more expanded and have more possibilities. You guys may make money from goventure life and money, but in the future who would know this product if they never had a good experience in goventure world?
One more thing, taxes shouldn’t be forced to be paid but can be forced to be paid by the government unless a tax law in that country says otherwise. For example.
If i had a million dollars, and i had to pay 50% of the taxes, I may cite the tax laws in the country i’m currently in and show you guys the tax advantages. This could reduce my taxes to 0% or even be paid money because i cited a defense against a tax evasion claim. (called avoiding) The government may reward me, unless there was not enough evidence or if someone else calls out from my defense.
If i was fighting for my taxes and if someone refutes (Only if they are in a different IP) that claim, then they may be paid a reward for helping the government fight against a lawsuit. This is probably the first step in making a fun and realistic game.
These ideas I’m presenting, I believe these statements are true because you want to have a name for making people rich. If 100% of the billionaires were rich because your products and services, then they would refer you guys for the success they had. Imagine if you made a million people richer, they would all come back and pay for your products because of the value you guys made. If everyone knows your product, everyone will buy it even if they don’t need to.
Look, the ideas I’m presenting could be a step forward but I’m just a person who just knows a lot of knowledge and yet knows nothing. The products you guys want to make money on, it’ll work if you guys focus on the fame of the brand. You guys don’t have to expand it to realistic and more features like hedge funds, you guys can even ignore what I say. I don’t control the company, but I believe in the potential of GoVenture World. After all, it is a gateway for your products to be sold.
WOW - I hope I don’t sound like that when I’m trying to explain something. (I probably do)
A - There isn’t a country in the world that taxes on equity - they tax on income.
B - As stated by admin - when playing a GAME - learn the rules of the game and apply them to your strategy. GVW taxes income of a holding company based on the tax rate of the country that holding company is in. Some are zero and some are up around 30% - so you choose.
C - Honestly I didn’t follow most of what you were trying to state…
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Simple words.
It should be simple, but not easy like pressing a few click and win. Not just that, but have realistic features, like being able to get your taxes waived citing IRL laws.