Posts Tagged ‘tax’
New York won’t tax downloadable content
I’ve you’ve stayed with us, you know that back in December we heard that New York had a bill in the works that would potentially tax things like downloadable map packs offered over Xbox Live.
Well, word has recently gotten to us that New York has scrapped the idea stating the reason as the passing of the stimulus bill. The original plan arised to help decrease the state’s $1.3 billion dollar debt but with the stimulus bill and more money coming their way, they deemed it unnecessary.
This is good news as Destructoid reports that this bill could have increased the price of DLC by up to 8%.
Chinese to Pay Tax on Virtual Currencies
Virtual currencies are pretty popular in China, with many even earning most of their income through online games. The Chinese government is responding to this by taxing those who make profits off these currencies.
Chinese citizens will now have to pony up a 20% personal income tax on said profits, with the Chinese Administration of Taxation noting that it “specifically takes aim at those who buy virtual currency from gamers and surfers and sell it to others at a mark-up.”
This tax will be applicable to individuals and not companies, though. The policy applies to gold farmers as well as web-based virtual currencies such as QQ Coins used in Tencent’s popular IM program.