Search results
Results From The WOW.Com Content Network
The online video game Second Life has its own economy and a virtual token referred to as Linden Dollars (L$). In the SL economy, users (called "residents") buy from and sell to one another directly, using the Linden, which is a closed-loop virtual token for use only within the Second Life platform. Linden Dollars have no monetary value and are ...
Virtual tax. Virtual tax is a proposed USA tax on internet gamers for items bought or traded solely within the virtual world (Internet game worlds). [1] [2] [3] The tax on a transaction would be considered as if it were a purchase or sale (if real currency is involved) or barter (if not). Virtual property, on the death of the owner, would be ...
Businesses and individuals who buy, sell, store, manage, or mediate the purchase or sale of virtual currencies or provide similar services must comply with the anti-money laundering law. [14]: 33–34 Bitcoin is classified as an intangible asset (not as electronic money) for the purpose of accounting and taxes. [137] [138] Germany: Legal
In the meantime, several countries led first by the European Union have begun to propose and implement digital services taxes (DSTs) which have a number of aims: to raise tax revenues; to put pressure on other countries – in particular the United States – to reach an agreement; and, arguably, to create a level playing field until the OECD/G20 framework reaches an agreement or comes into force.
Philippine Government Securities. Philippine government securities (locally referred to as "GS") are the unconditional debt obligations of the Republic of the Philippines. These are all denominated in the local currency, the Philippine peso. The securities are issued by the Republic through its fiscal agent, the Bureau of Treasury.
Of course, you could just as well have a tax loss, if the value of goods, services or real currency is below your cost basis in the cryptocurrency. In either case, you’ll have to know your cost ...
Virtual currency. Virtual currency, or virtual money, is a digital currency that is largely unregulated, issued and usually controlled by its developers, and used and accepted electronically among the members of a specific virtual community. [1] In 2014, the European Banking Authority defined virtual currency as "a digital representation of ...
In conjunction with having virtual currency be used to purchase items, tools, furniture, and animals, These mobile games made it so users can purchase currency and then use that currency to reduce or eliminate the wait times attached to certain actions, like planting and growing carrots or collecting taxes from the townspeople. [12]