Tax advisers have urged UK authorities to take the lead in considering the
tax implications of revenues generated in the virtual world.
David Nickson from KPMG
, said that the Treasury should look into earnings generated in ‘Second
Life’, a digital world where people can set up businesses and earn money, and
also bring that money into the real world.
Nickson told the FT
that there was a risk that ‘Second Life’ could be used as a way
to avoid tax and cover up fraud.
The US Congress joint economic committee is looking into the issue, and is
expected to produce a report on the topic. The US Internal Revenue Service is
also probing the matter, and considering whether it should tax virtual earnings.
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Second Life ‘
Read more about the Internal Revenue
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