James O'Neill
Provider
- Joined
- Sep 30, 2007
- Posts
- 182
- Society
- Love Craft Academy
- Avatar Name
- James Jim O'Neill
Taxes
Exactly!
James
(parts snipped to avoid repeating the enitre post - read it above, its worth the time)
Hi,
I'm rather sure most of us are living in areas where nearly all income is taxable anyway.
*snip*
Anyway, even now it should be theoretically taxable if we make a decent profit in a virtual world. Laws usually are aiming wide, and I'd not bet that a tax investigator finding the (imaginatory, unfortunately) 20K $$$ withdrawal from the selling of my (imaginatory, unfortunately) ModFAP wouldn't get very excited!
An (anonymous) ATM card would have hindered this, and this is why I think they're holding back - MA for sure doesn't want to annoy any authorities, given the tiny line they're walking in regard to "gambling" ...
So all that happens is that tax offices are now thinking of ways to make this more easy for their tax inspectors. Income generated in virtual RCE worlds will be taxed, you can be sure. And I cannot even be angry about:
Why should the guy that sunk 100K $/ EUR into EU to resell high end stuff should be tax-free, while I myself, that have sunk a multiple of $/ EUR into building a company, and creating quite some full time jobs, should pay the full tax - for him, too?
No way we'll avoid the tax, it's just a matter of time. And it's fair, too. Why should people that use new technology bolt holes have an advantage compared to, let's say, the business man that delivers you fresh bread & milk every morning? Would you like him to drown under massive tax pressure & create a tax free service of virtual wares in EU/ SL? Would you like to receive your bread & milk virtually, every morning when you log on? Enjoy your meal!
*snip
Exactly!
James
(parts snipped to avoid repeating the enitre post - read it above, its worth the time)