# Slashdot Games China To Begin Taxing Profits From Virtual Currencies



## Clark Kent (Nov 5, 2008)

*Slashdot Games China To Begin Taxing Profits From Virtual Currencies
By News Bot - 11-05-2008 05:00 AM
Originally Posted at: Dead Parrot Tavern*
====================

The Wall Street Journal reports that the Chinese government will collect a 20% personal income tax on any profits obtained through the redistribution of virtual currency. The legislation is intended to curtail speculation in virtual markets, which can be quite profitable. Quoting: "The announcement, which was distributed to local tax bureaus, specifically takes aim at those who buy virtual currency from gamers and surfers and sell it to others at a mark-up. Taxation officials are granted the right to determine the original price of online virtual currency if the individual fails to provide proof of an original price, it says. The policy would cover China's legions of online gamers, who can use online virtual currency to buy better equipment and new powers for their online warriors. But it also affects millions of others who use virtual currencies on instant-messaging services and Web portals."pa href="http://games.slashdot.org/article.pl?sid=08/11/05/0638234amp;from=rss"img src="http://games.slashdot.org/slashdot-it.pl?from=rssamp;op=imageamp;style=h0amp;sid=08/11/05/0638234"/a/ppa href="http://games.slashdot.org/article.pl?sid=08/11/05/0638234amp;from=rss"Read more of this story/a at Slashdot./ppa href="http://feedads.googleadservices.com/~a/SG94m7c_rRudmN-lbK3lk3oEIyw/a"img src="http://feedads.googleadservices.com/~a/SG94m7c_rRudmN-lbK3lk3oEIyw/i" border="0" ismap="true"/img/a/pimg src="http://feedproxy.google.com/~r/Slashdot/slashdotGames/~4/Tce_T0TN9ZA" height="1" width="1"/

Read More...


Read More...


------------------------------------
The Dead Parrot Tavern - The Dead Parrot Tavern is a community forum for the discussion of the golden age of piracy, pirate fests, ren faires, science fiction, fantasy and horror with news, info, calendars of events, message boards, and more! We welcome all to our shores!


----------

