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China Taxes Real Profits from Virtual World Transactions
- By Juho Hamari at 2009/02/19 - 08:27
| Title | China Taxes Real Profits from Virtual World Transactions |
| Publication Type | Report |
| Year of Publication | 2008 |
| Authors | Zhang, B., Tang D., Tiano J J. R., Gatto J. G., Duranske B., & Esplin B. D. |
| Series Title | Advisory, Pillsbury Winthrop Shaw Pittman LLP |
| Abstract | China has declared that it will tax profits on transactions involving virtual currency. In response to an inquiry from the Beijing Tax Bureau, China’s State Administration of Taxation issued a “Written Reply on Imposing Individual Income Tax on the Revenue Derived from Online Trade of Virtual Currency by Individuals” on September 28, 2008 (the “Written Reply”). The Written Reply imposes an individual income tax of 20% on income derived from online trade of virtual currency. |
| URL | http://www.pillsburylaw.com/bv/bvisapi.dll/portal/ep/paPubDetail.do/pub/20081117123759562/channelId/-8595/tabId/5/pageTypeId/9208 |
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