Thursday, June 28, 2007

South Korea Begins Taxing Virtual Money Transactions

Coming to me via Law of the Game (shout out to a new VG law blogger), South Korea has begun imposing a Value-Added tax to all virtual goods sold in real world transactions. I could try and explain, but Mark Methenitis does a great job, so check it:

VAT implemented: WoW

A report on how the US will approach this issue is due in about a month.

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