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Currency Exchange for Companies
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Netvalar

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Joined: 27/03/2013 07:09:43
Messages: 61
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As it stands currently in order to move my companies local currency to EURO in order to expand workplaces I have to withdraw the funds convert it then invest it back in. However the withdraw itself costs 35% due to tax to mentor and leader. The withdraw tax makes sense as a players earnings but the conversion is not an earnings but a viable reinvestment of the company
Karlonia

I come in peace
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Joined: 15/03/2013 19:35:51
Messages: 87
Location: Corpus Christi, Texas USA
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Yes, this problem has been annoying me as well. There needs to be a way for companies to exchange and convert currencies on the company accounts without having to withdraw it to the personal account. Currently I wind up paying up to 40 percent tax if I withdraw funds from a company, so if I want to open a new workplace I often need to save up personal GBP funds and slowly convert it to gold until I have enough for 1 Euro, and then insert this into the company.

Since company earnings from sales of products are always paid out in local currency (as far as I know), we need a way to convert the local currency into Euros within the company. Alternatively, there could be an option to pay for new workplaces or other things in the local currency, but it usually ends up being less expensive to pay in Euros if possible.
Karlonia

I come in peace
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Joined: 15/03/2013 19:35:51
Messages: 87
Location: Corpus Christi, Texas USA
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I just thought of a somewhat related suggestion: allow transfers of currency between companies. If one of my companies is generating significantly more revenues than another, it would be nice to have the option of transferring funds to cash-starved companies with less money so that I have funds on hand to pay workers and keep production going. Currently, the only way I can do this (assuming that I do not already have enough funds on my personal account) is to withdraw money from one company to the personal account and then invest it in the other. However, as with the situation above, this means paying up to 40 percent tax when the money is taken out of a company. Paying such high taxes really doesn't make sense in this case because the money is not being used for personal earnings, nor is it being withdrawn from the system; I merely want to transfer the money from one company to another.

In real life, I could just initiate an internal transfer between the accounts of the two companies if they were at the same bank, or do a wire transfer if the company accounts were at different banks. Or if wanted to be really old-fashioned about it, I could have one company write out a paper check and have the second company deposit it. But at any rate, it would be utterly ridiculous to pay a total of 40 percent tax to various uninvolved entities just to do a simple transfer like this.
Masterbo

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Joined: 25/02/2013 20:06:44
Messages: 152
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I think it would be enough in the first step, if you could buy the blueprints in their respective currencies. The exchange can happen later still!

I ask the admin via PM
Admin

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Joined: 13/06/2012 14:40:39
Messages: 288
Location: Budapest
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Karlonia wrote:I just thought of a somewhat related suggestion: allow transfers of currency between companies. If one of my companies is generating significantly more revenues than another, it would be nice to have the option of transferring funds to cash-starved companies with less money so that I have funds on hand to pay workers and keep production going. Currently, the only way I can do this (assuming that I do not already have enough funds on my personal account) is to withdraw money from one company to the personal account and then invest it in the other. However, as with the situation above, this means paying up to 40 percent tax when the money is taken out of a company. Paying such high taxes really doesn't make sense in this case because the money is not being used for personal earnings, nor is it being withdrawn from the system; I merely want to transfer the money from one company to another.

In real life, I could just initiate an internal transfer between the accounts of the two companies if they were at the same bank, or do a wire transfer if the company accounts were at different banks. Or if wanted to be really old-fashioned about it, I could have one company write out a paper check and have the second company deposit it. But at any rate, it would be utterly ridiculous to pay a total of 40 percent tax to various uninvolved entities just to do a simple transfer like this.


This will be handled separately:
http://support.goldenbattles.com/support/app/item/GBP-3
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Admin

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Joined: 13/06/2012 14:40:39
Messages: 288
Location: Budapest
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Netvalar wrote:As it stands currently in order to move my companies local currency to EURO in order to expand workplaces I have to withdraw the funds convert it then invest it back in. However the withdraw itself costs 35% due to tax to mentor and leader. The withdraw tax makes sense as a players earnings but the conversion is not an earnings but a viable reinvestment of the company


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