China Taxes Profits from Virtual Currencies
Back in June, Shacknews reported on the effects of popular virtual currencies on the Chinese economy. The Chinese government has responded by taking a piece of that cottage industry for itself: the nation is instituting a 20% personal income tax on profits made from virtual currencies.
The tax, announced today by China's State Administration of Taxation, "specifically takes aim at those who buy virtual currency from gamers and surfers and sell it to others at a mark-up," according to a Wall Street Journal report noticed by Gamasutra. Read more »



"These types of earnings are taxed in the U.S. also. I don't really understand the point of ..."
- yourGarbageMan See all 16 comments