1b coin's tax should be on the receiving end, not the one trading it away

I disagree with the way the coin gets taxed. Let's put an example for better picture.

Person A buys 1b coin from Albert. Person A wants to buy item X from Person B, which Person B is selling for 1b. Under normal trade using mesos, Person A would pay Person B 1bil mesos, in exchange for item X. After the trade, Person B should receive 970m, after getting taxed at 3%.

From my understanding, after Matt himself explained to me, using the 1b coin will cause Person A to get taxed 3% instead. Basically, Person A trades 1b coin to Person B for item X, and person A loses 30m from inventory. Person B trades away the item X, and receive 1b coin, which he can sell it to NPC for 1bil mesos with no tax. Why is the tax system using the 1b coin different from normal trade? Shouldn't the tax system work like normal trade, where the receiving party gets taxed?

edit: The main flaw of this system is that the seller can gain mesos without any form of tax infinitely if he sells the coin to NPC, gets 1bil in mesos, buys CS/WS, repeat. No tax at all.

 

For consistency purposes, yeah this should probably be fixed; Otherwise people will prefer one currency over the other.

 

Personally I favor the current way it is taxed. I think of the coin as a convenient tool to store more mesos on my account. So, I get taxed for it. Makes sense there.

 

You as an item seller would ideally like to say 'buyer covers 3% tax'. So I think it's fine. If it were ever to be the other way round, the number of people who get affected by this is also the same. It is really an 'Either Or' situation and both ends will not like being taxed.

 

It's an either or situation, but it has been established that the buyer is taxed. Why not just follow through with this fact for simplicity's sake?

 

It allows people with very little money to sell an item for money (doesn't require people to make money to sell a high target item like those tasty godly gach items) and if it's a huge deal you can always have the buyer front the tax in the first place by putting money into the trade. It's unlikely people will be trading anything >70b anyways (when the tax for the coins would be max mesos). If there comes a time when 100b item trades occur (3b tax) that's a bridge to cross, but it has allowed characters to hold nearly uncollectable amount of mesos (no more mules necessary to hold cash) and has allowed trades up to that 70b safely without needing to buy other items as collateral.

Edit: also part of the concern was calculating tax to be deducted. I believe there was issues with just physically removing money from the buyers inventory, and splitting the coin could cause issues (IE 3 coins --> 2 coins and change).

 

Yeah, it's basically on buyer to adjust price to account for taxation. (as I'm sure happens now, prices are probably changed to account for tax, just on seller's side)

 

Tax on buyer or seller shouldnt matter, as EVERYONE buys AND sell. In the end everyone gets taxed no matter what. Also people will adjust prices accordingly to either mesos or 1b coin used. So there’s no point in changin anything imo.

For expensive items, sellers are always asking buyers to cover tax anyways.

 

I'm not entirely sure I agree with you. To me it seems like the way it works now is how trading mesos has always worked.
Before, if you gave 100m mesos to someone, there would be a 6% tax deduction. So the recipient would only receive 94m.
Now, you could say you are trading away 1030m, but the recipient only receives 1000m. So not only did the tax deduction become more lenient, but you also have an easy way to store and trade much larger sums of money than before. And that's the way they should, and were intended to work, afaik. If anyone finds a flaw in this reasoning, feel free to enlighten me.

 

Taking into consideration that people value ws and cs scrolls at 500m mostly when selling there stuff and there actual value is 520-540 this isn't a bad alternative

 

When ever you buy something expensive the seller always tells you that you have to cover tax anyway. So who cares.

 

The only thing about this new tax system I really disliked is that ALL transations are now 3%.
Doesn't matter if it's a 1m, 10m, 100m, 1b.
Doesn't matter if it's a trade or a store.

Where's our Arrow Trades now? T_T

Can't transfer mesos to mules with no tax anymore.

 

Technically you don't have to trade mesos to mules anymore. You can buy 1Bil coins and keep it all on your main.

 

Not to mention, the tax brackets were designed to push people towards stores and NX. I don't think circumventing it with arrows was an intended purpose.

 

I don't walk around with items/scrolls/store at my main, they're all on a specif mule for FM.
The mesos I get at grinding I usually drop on the mule for merchant purposes.
3% less now tho.

Not to forget about low priced stuff on stores. =/

 

Yah, but the wrong guy is receiving the tax

 

Hahaha! Sorri! Wrong Word!
I wanted to say that the wrong person is losing the mesos!

Whats the difference if I pay an item X that worth 1b with 1b mesos or 1b coin??
Here is the difference: If you pay with 1b mesos the seller will lost 30m.
If you pay with 1b coin the buyer will lost 30m.
So it doesnt make sense, this is broken

 

Lets say item X is worth 1 b.

Seller would either ask for 1b coin in payment;
Or
seller would ask for 1,030,930,000 (approximately) in mesos.

Asking buyer to pay tax for expensive items has always been the case around here. So u can see that tax is actually LOWER now if the buyer pays with coin. 30m tax compared to paying 30m+900k with pure mesos.

 

Item X is put on sale for 1 billion on a shop. To buy it, you need 1 billion mesos. Shop owner will receive 970m after 3% tax.
However, in a trade via 1b coin, Item X would cost you 1.03b mesos, and item X owner would receive 1bil mesos, if the owner resell the coin to the NPC.

Why is there such difference in the tax system? Shop and meso trade still put the tax on the receiving end, however 1bcoin forces the tax to be on the giving end. Why not standardize the system?