Paying Your Taxes

This section aims to help you to correctly file, report and pay your taxes to the government of the Roman Republic.

A short summary on how to pay your taxes:

Prepare yourself, keep detailed reports of your income
Download the automated tax report template
- Personal
- Corporate
Follow the instructions on the template
Pay the calculated tax and send us your complete tax report per Discord PM or by other private means

If you choose to pay our taxes manually without the template:

Prepare yourself, keep detailed reports of your income
Calculate tax for every amount of income you receive, 5% personal tax and 1% corporate tax
Pay the calculated amount to "Roman Revenue Department" with the bank's transfer system
Send us your tax report file per so we can verify the calculations

Next deadline: Sunday, the 6th of May, 23:59:59 UTC

Period of time: Calculate tax on every income you received from the 2nd of April to the 6th of May

Step-by-Step Tutorial to Pay your Taxes

Follow these easy steps to pay your taxes.

Relevant legislation or documents

First of all, here is a list of legislation that is relevant for your tax report.

The First Tax Code is the foundation of our tax system and has all the information you need.

First Tax Code Amendment (Amendment)

Prepare yourself

In order to correctly pay your taxes, you need to have up-to-date records of all your income.

If you don't already keep track of that by yourself, try contacting the Democraciv Third Savings Bank for a detailed transaction history of your account.

When do I have to pay my taxes?

By the first Monday of every month.

That means you have to pay your next taxes by the 7th of May. So, the deadline is Sunday, the 6th of May, 23:59:59 UTC.

What income has to be taxed for the next tax report?

You have to pay taxes on all income that you received from the 2nd of April to the 6th of May.

Personal or Corporate Tax

The taxation of personal bank accounts and business bank accounts is different. For personal income, you have to pay 5% off every single income you received during that month.

Corporate income is taxed at a rate of 1%. However, as a corporation, you can deduct the salaries you pay your employees and interst paid on loans by banks from that tax.

What is income?

The First Tax Code defines income as money received as compensation for goods or services rendered. That means, the weekly 100ʤ you receive from the bank for just having an account is not taxed.

Government pay such as for serving as a legislator is considered a service, so you have to pay taxes on that income.

Winnings and Investments

Income from gambling or tournaments are taxed at a rate of 10%. Investments and interest however are taxed at a rate of 2.5%.

Note that any loss of money from gambling or investems is not taxed, as it is considered to be a negative tax. Also, interest earned on savings accounts are tax exempt.

Template for your Tax Report

Click here for the Personal Tax Template.

Click here for the Corporate Tax Template.

Note that you have to fill out the corporate tax template multiple times if you own more than one company.

You can view and download a template for a tax report here. This template was made by the Revenue Department to make sure that every citizen is able to report their taxes with ease.

If you have considered all these steps above, you are now ready to actually pay your taxes!

Pay your taxes

After having calculated all the tax on your income for the right period of time, you are now ready to pay your taxes.

This works just like every other transaction. Just head to the bank's website and go to the form for a transfer request. Enter your account name, your PIN, and "Roman Revenue Department" as the recipient. Then add the amount of taxes you have to pay and hit send.

The picture below shows how your transfer request should look like.

TaxTutorial.PNG

Send us your tax report

This is an essential step and you aren't done yet!

In order to verify and keep track off your tax reports, you have to send us your full tax report. We can assure you that your private data is handled with absolute safety and care.

Just save your spreadsheet, document or however you calculated your taxes and send that file to any of the employees of the Revenue Department. As of now, that is our Treasurer u/darthaugustus (GrandMoffPwnage or Timekeeper on Discord) and the Revenue Officer u/Jovanos (DerJonas on Discord).

When we receive your data, we will verify that we received the same amount of money that you calculated on your tax report. After that, we will come back to you to ensure you that everything was successful.

If you have any more questions regarding the security of your data, please contact us directly.

For answers regarding this tutorial, reach out to Revenue Officer DerJonas.

That's it, easy as that!

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