| Author | Loan |
|---|
| Is it legal if someone returns my loan along with the 1% taxes which I spent while sending the loan to him at the time he returns the loan? I mean basically, he'll be only covering up the extra cost of the taxes I have paid so that I have no loss. |
| It is legal. This player can sign this 1% as present to make sure. |
So this should be the transfer description:
Loan return + 1% tax cost extra
Is this fine? |
rule
3.21. Any banking and bookmaker activities are prohibited without exception.
Banking activities - granting loans with interest, receiving money from other players on deposit accounts, pawn shop business, insurance operations or any other bank activities.
if the guy wants to present you its his choice. but he can report you if you ask for it. |
rule
3.21. Any banking and bookmaker activities are prohibited without exception.
Banking activities - granting loans with interest, receiving money from other players on deposit accounts, pawn shop business, insurance operations or any other bank activities.
if the guy wants to present you its his choice. but he can report you if you ask for it.
Hmmm...so you are saying that the 1% tax extra is illegal? I mean, I am not asking for profit here, I am asking for only that much gold as much I had spent on giving him the loan. |
No, return loan with 1% is fully legal.
Why:
I give you load: 1000 gold. I must paid for transfer (tax) money = 10 gold.
When You return me loan, you must also pay this tax. So if you return me 1000 gold, i receive 1000 gold, but i not receive full amount money. I give you 1000 gold, and now i have 990 gold.
So, return loan +1% (tax paid by lender) is fully legal.
Only in way loan +1% lender receive back 100% of loan sum. |
This is not a present.
Why lender must pay tax for his good intentions? |
I said if you name it as interest it is illegal. but he is actually giving you the tax.
i just mentioned the rule which exists. that tax is not for anything so it is considered as present. |
Before Empire introduced tax to any transfer, this did not apply.
But now, if lender give loan to borrower, this mean that:
Lender:
give 1000 gold, paid tax 1% = 1010 gold paid.
Borrower:
giving back 1010 gold, Lender not receive any interest rate.
Lender gived specified sum, and received it back. He earned 0 gold.
So - we cannot talk about rule 3.21 in this case. |
It is legal to cover that 1% tax.
This has nothing to do with interest. Interest is what a player receives as a profitable return on their investment (loan). In this case, the lender does not receive any extra gold. They receive exactly what they paid including tax. So there is no need to bring interest into it and confuse the whole thing. |
| We have asked the admin on this issue long ago. The return of the 1% is legal and is not considered interest. |
