Taxes are probably the worst financial problem in the life of every person. And Bitlife provides a tax system as in real life. However, there is a glitch to avoid taxes in Bitlife. Read the guide, and you will find out how to avoid tax in BitLife.
Avoiding Taxes in Bitlife
Unfortunately, in Bitlife there are only two types of taxes you can avoid. The first is the death tax, and the second is the estate tax. Both of them are high in price. Therefore, you will save a lot of money by reading the guide below.
How to Avoid Death Tax in Bitlife
The death tax is a contribution you give to the state to receive inheritable money. The percentage of this tax varies, but the highest death tax is in the USA(41%), Puerto Rico(48%), Japan(49%), and Syria, where the tax is over 62%. In other countries death tax is so low that you should not take it into account.
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To avoid this tax, you need to force your ancestors to leave their money in another country’s bank. Also, you can temporarily migrate with them before death to inherit their money in a tax-free country. After that, you can simply return to the country you want to live in.
How to Avoid Estate Tax
Avoiding estate tax is much harder than from previous one. The point is that you are obligated to pay estate tax when you live in a country with provided this tax. The only option is to migrate to another country or start a new Bitlife profile in another country.
Countries without estate tax in BitLife
Here are the countries that do not have estate tax: Sweden, Russia, Norway, Israel, Mexico, Canada, Hong Kong, China, Cuba, Egypt, Argentina, Australia, Austria, Estonia, Singapore, India, Macau, Czech Republic, Bahamas, Romania, United Arab Emirates, Serbia, New Zealand, Portugal, Slovakia, Morocco, Hungary. The best pick from this list is UAE.
In conclusion, avoiding taxes is financially beneficial, especially death taxes. However, it takes a lot of time and effort. Beneficially it is or not depends only on the amount of money you will save. That is how it works.