A good recommendation from the Joint Economic Committee regarding taxation and virtual economies. In short, don't do it! (Click here) It's always refreshing to see someone in government actually "gets it."
As someone who is not just a player in Second Life, but also a virtual land owner and beginning virtual entrepreneur, I welcome this recommendation from the JEC and hope lawmakers will give careful attention to it. As stated above, there already exists sufficient means and tax law to ensure colelction of REAL taxable income in the form of REAL currency. No need to overcomplicate matters in this new realm of virtual interaction with more bureaucracy and governmental interference.
1 comment:
Unfortunately, it's inevitable. The best we can hope for is to stave it off for a few years. If there's anything of value--virtual or otherwise--changing hands, governments are going to tax it.
Asking a politician to forego taxing something that's obviously taxable is like asking a pig not to wallow in the mud--it's against their natures.
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