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Author Topic: How to become a zero taxpayer with the new accounting system?  (Read 1150 times)

alfkan

  • Former member
How to become a zero taxpayer with the new accounting system?
« on: January 30, 2014, 09:09:11 AM »
I'm based in a country with income taxrate is 35%. This rate is higher than most of the other countries I should think. In the "old days", before the new accounting scheme came into force, it was very simple to avoid tax if your company made operational profit. You just invested that profit into something available and hopefully profitable and suddenly by the turn of the year the taxman paid you back the whole or major part of the paid taxes!   :D

So, the question arises every day: How do we now minimize tax?  :-\

Offline [ATA] Sunbao

  • Members
  • Posts: 1057
    • FmFreaks
Re: How to become a zero taxpayer with the new accounting system?
« Reply #1 on: January 30, 2014, 11:56:02 AM »
I'm based in a country with income taxrate is 35%. This rate is higher than most of the other countries I should think. In the "old days", before the new accounting scheme came into force, it was very simple to avoid tax if your company made operational profit. You just invested that profit into something available and hopefully profitable and suddenly by the turn of the year the taxman paid you back the whole or major part of the paid taxes!   :D

So, the question arises every day: How do we now minimize tax?  :-\

Just pay your taxes :)

alfkan

  • Former member
Re: How to become a zero taxpayer with the new accounting system?
« Reply #2 on: January 30, 2014, 01:58:16 PM »
In my gameworld I'm writing 10th of December and on the bottomline in the Incomestatement it says I've paid 10M$ in :P :-\ :-\ taxes. Isn't anything I can do before year end to reduce that amount?

Offline ArcherII

  • Members
  • Posts: 1999
Re: How to become a zero taxpayer with the new accounting system?
« Reply #3 on: January 30, 2014, 02:02:33 PM »
In my gameworld I'm writing 10th of December and on the bottomline in the Incomestatement it says I've paid 10M$ in :P :-\ :-\ taxes. Isn't anything I can do before year end to reduce that amount?

Only if at year end you end up having less profits than the required to pay 10mil. Buying planes or slots won't count, they're accounted as assets. Maybe selling planes at a loss? Don't.

Jona L.

  • Former member
Re: How to become a zero taxpayer with the new accounting system?
« Reply #4 on: January 30, 2014, 03:43:05 PM »
With the new system the only way to get Taxes back is to write a loss, which would mean, that your airline is about to die anyways :P

DavidBurnie

  • Former member
Re: How to become a zero taxpayer with the new accounting system?
« Reply #5 on: January 30, 2014, 06:52:48 PM »
Someone should suggest "Buy a Government Minister" in feature requests - that's how most airlines get around paying taxes.

Online dmoose42

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  • Posts: 1642
Re: How to become a zero taxpayer with the new accounting system?
« Reply #6 on: January 30, 2014, 07:19:31 PM »
Scrap some old planes :)

Offline ArcherII

  • Members
  • Posts: 1999
Re: How to become a zero taxpayer with the new accounting system?
« Reply #7 on: January 30, 2014, 07:20:21 PM »
Someone should suggest "Buy a Government Minister" in feature requests - that's how most airlines get around paying taxes.

That worked quite well for Pan Am in the 50s and 60s. It ended putting yet another nail in the coffin after Deregulation. Now back to AWS...

alfkan

  • Former member
Re: How to become a zero taxpayer with the new accounting system?
« Reply #8 on: January 30, 2014, 07:31:17 PM »
Okei, got it!

IRL vs AWS; I think allowance for depreciation differs a lot all over the globe. Where higher corporate taxes are more common, "tax-loopholes" seems to be a part of the scheme just to attract investments or as a direct result from heavy lobbying. Would be nice if Sami one day would open up for base oriented allowances for depreciation pending the tax rate in the country of the base. ;D

Offline Infinity

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  • Posts: 1705
Re: How to become a zero taxpayer with the new accounting system?
« Reply #9 on: January 30, 2014, 10:53:11 PM »
Someone should suggest "Buy a Government Minister" in feature requests - that's how most airlines get around paying taxes.

Juan Trippe-Style?;)

Offline tcrlaf

  • Members
  • Posts: 337
Re: How to become a zero taxpayer with the new accounting system?
« Reply #10 on: January 31, 2014, 12:01:56 AM »
Just work harder...
The unproductive need your money.

Offline tcrlaf

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  • Posts: 337

Online knobbygb

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  • Posts: 774
Re: How to become a zero taxpayer with the new accounting system?
« Reply #12 on: February 01, 2014, 02:44:57 PM »
The zero tax loophole seems to be well and truly closed and it's a good thing (there, that's something you'd never near me say in real life).  Remember now that the year-end deadline isn't as important as it was as any future losses can be offset against the previous three years' tax.  So, if you make a loss next year or the year after you can STILL get back some or all of that tax you're paying now!  I think.  I don't tend to do the loss making thing so I'm unsure  ;D

 

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