Comment Clarification (Score 1) 247
The Joint Economic Committee has issued a press release to clarify the purpose of the Committee's planned study. Here are the headline and and some text from the release:
VIRTUAL ECONOMIES NEED CLARIFICATION, NOT MORE TAXES
WASHINGTON, D.C. -- The past few years have seen a dramatic increase in the popularity of online gaming and the virtual economies that accompany them. The population of these online worlds has been estimated to exceed 10 million people worldwide. Because of their newness, some uncertainty exists regarding taxes and intellectual property rights.
...if the transaction takes place entirely within a virtual economy, then it seems there is no taxable event. Such distinctions should be addressed and resolved in a common-sense manner.
And here is the link to the full press release: http://www.house.gov/jec/news/news2006/pr109-98.pd f
VIRTUAL ECONOMIES NEED CLARIFICATION, NOT MORE TAXES
WASHINGTON, D.C. -- The past few years have seen a dramatic increase in the popularity of online gaming and the virtual economies that accompany them. The population of these online worlds has been estimated to exceed 10 million people worldwide. Because of their newness, some uncertainty exists regarding taxes and intellectual property rights.
And here is the link to the full press release: http://www.house.gov/jec/news/news2006/pr109-98.p
