4 ms·

Not sure about that. In Germany, especially SMEs, no one cares about cents. Your tax reports are done in rounded Euros anyway. People, companies, and the taxati

Not sure about that. In Germany, especially SMEs, no one cares about cents. Your tax reports are done in rounded Euros anyway. People, companies, and the taxation and financial state dept. are well aware of rounding issues, different ways to round that no one really cares about cents. Besides that, using BigDecimal with two decimal places is sufficient in the java world imho. Depends on your use case. I'm entirely sceptical of people claiming general things. Depends on the requirements I'd say.

t0mas88 3y ago
Same in the Netherlands. There is an official rule that you don't have to do mathematical rounding to get to whole euro's, you can do it in whichever direction is more favourable to you. That rule is probably there just to save the tax services some extra work and IT costs.
lxgr 3y ago
Only final values are rounded to full Euros (down, if I remember correctly). If a large taxpayer starts rounding down as part of intermediate calculations of their tax liability, I think they'd get some questions. But yes, rounding does happen a lot – what's important is that everybody uses the same, transparent rules for that, or it becomes impossible to double-check somebody's books, tax declaration, invoice etc.
- RamblingCTO 3y ago
  Well, how much money can you save by efficient rounding? Surely not that much that anyone would bother. There's a thing called "Kaufmännisches Runden", which is kind of cheating as well. > But yes, rounding does happen a lot – what's important is that everybody uses the same, transparent rules for that, or it becomes impossible to double-check somebody's books, tax declaration, invoice etc. They don't, that's why it doesn't matter that much ;)
  - lxgr 3y ago
    > Well, how much money can you save by efficient rounding? You and me? Probably a few cents. A bank or a large corporation selling things billed in sub-cent amounts? Single-digit percentages of their gross revenue, i.e. many millions. Just as a very simple example: I'm your bank/phone provider/..., and I'm charging you a flat fee of 1.9 cents per transaction/call/... You're my customer and make a billion of such transactions per year. Option 1: 1000000000 * 0.019 = 19000, you owe me $19000000. Option 2: There are no fractional cents, so let's just round up each individual billing event. 1000000000 * 0.02 = 20000000, you owe me $20000000. Cool, a free extra million for the company! This is why these things are precisely regulated when it comes to sales tax/VAT, for example. > There's a thing called "Kaufmännisches Runden", which is kind of cheating as well. Always depends on which side you're on. If you're getting a refund, it can work in your favor! Importantly, it's a precisely defined rule so that it's not possible to cheat in the implementation.
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blibble 3y ago
they'd probably care if you're compounding interest daily on that rounded up euro

t0mas88 3y ago

Same in the Netherlands. There is an official rule that you don't have to do mathematical rounding to get to whole euro's, you can do it in whichever direction is more favourable to you. That rule is probably there just to save the tax services some extra work and IT costs.

lxgr 3y ago

Only final values are rounded to full Euros (down, if I remember correctly). If a large taxpayer starts rounding down as part of intermediate calculations of their tax liability, I think they'd get some questions. But yes, rounding does happen a lot – what's important is that everybody uses the same, transparent rules for that, or it becomes impossible to double-check somebody's books, tax declaration, invoice etc.

RamblingCTO 3y ago
Well, how much money can you save by efficient rounding? Surely not that much that anyone would bother. There's a thing called "Kaufmännisches Runden", which is kind of cheating as well. > But yes, rounding does happen a lot – what's important is that everybody uses the same, transparent rules for that, or it becomes impossible to double-check somebody's books, tax declaration, invoice etc. They don't, that's why it doesn't matter that much ;)
- lxgr 3y ago
  > Well, how much money can you save by efficient rounding? You and me? Probably a few cents. A bank or a large corporation selling things billed in sub-cent amounts? Single-digit percentages of their gross revenue, i.e. many millions. Just as a very simple example: I'm your bank/phone provider/..., and I'm charging you a flat fee of 1.9 cents per transaction/call/... You're my customer and make a billion of such transactions per year. Option 1: 1000000000 * 0.019 = 19000, you owe me $19000000. Option 2: There are no fractional cents, so let's just round up each individual billing event. 1000000000 * 0.02 = 20000000, you owe me $20000000. Cool, a free extra million for the company! This is why these things are precisely regulated when it comes to sales tax/VAT, for example. > There's a thing called "Kaufmännisches Runden", which is kind of cheating as well. Always depends on which side you're on. If you're getting a refund, it can work in your favor! Importantly, it's a precisely defined rule so that it's not possible to cheat in the implementation.

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blibble 3y ago

they'd probably care if you're compounding interest daily on that rounded up euro