So to be transparent about the issue, our problem is mainly just getting the money in a way where the players don't get double taxed. Sorting out Chinese tax law with American/Canadian tax law has been tl/dr: complicated.
Luckily for us we have Amazon Chinese Tax reps that have been working with Perfect World to sort out the issues.
I'd have prefered a mango.
Thanks for the clarity.
They got their money. It's currently sitting in their steam wallets. They have to buy CS:GO keys and sell them to get it out.
Well, if you understand Brazil tax systems, you understand all tax systems...
You found a Chinese person from Brazil who understands international tax law? Amazing.
Options for payout:
1) Open chinese bank account and deposit it there
2) Take it in cash - declare at border - Customs Officer: Holyshit.png
3) Wait until they figure out how to wire that amount of cash internationally.
Finnish Tax is super simple stuff.You give a yearly estimate of how much money you wish to make this year. You make the money. The State takes what it wants. The State took 40% of your earnings because you guessed wrong in the start of the year. You buy saltines.
tl;dr: not PW to blame.
How about just receiving the amount in Arcanas?
Because it didn't sound like he was making a serious accusation until it went to the front page of Reddit.
UK tax is similar.
1) you make money
2) the state takes most of it
3) the state cuts all public services and then shrugs when asked what happened to the money
apparently wec was the best tournament, paid in cash on the spot and had a suitcase full of money on stage
We've won enough Bugatti's betting on ourselves.
Assuming you're not homeless/incredibly broke, would you rather get 7k today or 10k in 6 months time (just random $ values, obv different for each tournament/tax bracket blah blah etc etc). If you could avoid giving up the 3k, I think you'd probably do it.
Fun little fact: In Argentina mango can be used as an alternate way to say "Peso", our equivalent to dollar (this is literally the first time it's appropiate to bring this up, let me have this moment)
It's good to hear that funds aren't being paid for no good reason.
Charlies on top of it. Tell these redditors.
ps. i was joking as per usual lol! PJSalt !
It's good to hear that funds aren't being paid for a good reason.
Brazil is federal so you have local and federal taxes but they can also contradict each other in different regions. Last time PwC did a report Brazil was the most complicated and time consuming taxing system in the world.
no there were issues getting that money out of china. cant just travel with 200k in a suitcase, doesnt work like that. i believe tidesoftime's money (he won the hearthstone portion of wec) was withheld for quite some time.
EDIT: Technically, yes being paid out on the spot is kinda the best solution because it insures you get the money... but do you really want to be paid out millions of chinese dollars in cash?
Oh baby a triple negative.
The glory days of Swiss tax haven are long gone.
give moni to city
give moni to state
give moni to country
where is moni?
look world cup! ~flyes away~
Don't pretend you guys have it so hard. Sure you're taxed a bunch but the entirety of Northern Europe is taxed heavily, yet has some of the highest standards of living in the entire world. You guys get great healthcare, entirely publicly funded schools amongst various other great usages of the taxes.
If you need to ask, you'll never know. If you know, you need only ask.
Bugatti is French/German so same problem applies.
How about the luxury Volvo S60 that's now built in China.
all that money is going to child rape parties.
I think he was going for "It's good to hear that funds aren't not being paid for no good reason."
Brazilian here, my fiancee is a lawyer, don't understand a word she says.
It's super annoying especially for really large sums of cash - they have millions to pay out, not 285k
Brazillian law undergratuate here, can confirm, can't understand tax system, can't graduate.
You may be in the wrong sub, friend.
Of course it is. If you're a professional Dota player with multiple sources of income outside of tournament earnings (salary, twitch revenue, sponsorships) chances are your living expenses aren't going to be crazy to the point where you're desperate for cash
They are in close cooperation with valve and handle the Chinese servers. They are definitely doing a major. I bet this is international tax treaties being difficult as hell.
Thanks for explaining the joke, it's SO much funnier now.
didnt they get doubled taxed though?
Let's say it this way. A sudden transfer of foreign currency outside of your national border would mean a devaluation of your currency.
When IBM close its factory in Malaysia and withdraw investment, MYR value decrease from 1 USD 3 to 3.7 RM after few months.
To counter this problematic of devaluation, all national bank has withholding rate for transferring money outside of national borders. For large amount like billion USD, the withholding rate would be as large as 20% in some countries. Depending on tax treaty between 2 countries, this withholding amount would be refunded over few years with interest (or no).
As far as I know, China has no tax treaty with USA or any other countries in the world (except for Hong Kong, Taiwan etc...). Also, China currency regime is even more complex. It regulate its currency so that bringing large amount of domestic currency or USD outside the country invalid. This is the reason why USA keep nagging China to have an open currency. (China bank is not allowed to receive/transfer its own domestic currency to any foreign bank - therefore effectively control currency rate at any desired rate).
Luckily there are other heavens to hide your money!
Why don't you just directly send the money to your bank account in Switzerland like everyone else?
Why doesn't anybody pay me with mangoes?
Is this a Terry Gilliam joke?
i need saltines NOW
Just give them a computer and broadband and jail might not be so bad for a dota team Kappa
Your City has a Tax Law.
Your state has a tax Law.
Your country has a tax Law.
Sometimes (very often tbh) you pay a tax twice, then you need to tell to the gov that you payed it twice and they pay it back to you.
And other shits.
serious? dat monies......
Redditurds in charge of taxes, politics and economy LMAO
The real world is going to hit you hard when you get there.
They could also open boxes on stream and get their money back in the donations
He wasn't, I was in the stream and I didn't think much of it until this guy decided to shitpost.