Massively http://massively.joystiq.com Massively http://www.blogsmithmedia.com/http://massively.joystiq.com/media/feedlogo.gif Massively http://massively.joystiq.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[China's virtual goods taxation sparks price increases and controversy]]>http://massively.joystiq.com/2008/11/19/chinas-virtual-goods-taxation-sparks-price-increases-and-contro/http://massively.joystiq.com/2008/11/19/chinas-virtual-goods-taxation-sparks-price-increases-and-contro/http://massively.joystiq.com/2008/11/19/chinas-virtual-goods-taxation-sparks-price-increases-and-contro/#commentsFiled under: , , , , , , ,


China's State Administration of Taxation recently imposed a 20 percent income tax rate on profits made from virtual currency and virtual items, sparking price increases for virtual goods. While this tax rate (if actually enforced) clearly impacts the virtual space, it also affects transactions happening outside of MMO servers and virtual world grids. The taxation policy could ultimately extend to the virtual currencies linked to the largest IM providers in China such as Tencent, drastically increasing the percentage of the population affected by the new laws. Despite this, the positive benefits of eliminating gray and black markets for virtual items and currency may outweigh the drawbacks for gamers and users of the various digital services in China.

Questions remain about what will and will not be taxed in the virtual space, but it's clear that individuals who gain virtual income are expected to declare their profits and pay taxes on this, and do so within seven days of having earned the profit, according to Shanghai Daily.Taxpayers who can provide proof of the value of this property or the value of the transaction are taxed at 20 percent on their profits, while those who cannot provide sufficient verification are taxed at three percent of the total transaction value. But how many people are affected by this new system?

Continue reading China's virtual goods taxation sparks price increases and controversy

MassivelyChina's virtual goods taxation sparks price increases and controversy originally appeared on Massively on Wed, 19 Nov 2008 19:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>asiablack-marketchinacontroversyeconomicseconomygoldgray-marketlawlegalmmo-industryrmtshanghaishanghai-dailytaxtaxestencentvirtual-currencyvirtual-goodsvirtual-itemsvirtual-taxationvirtual-worldszhu-shenshenWed, 19 Nov 2008 19:00:00 EST<![CDATA[MMO addiction drives man to poison family]]>http://massively.joystiq.com/2008/11/14/mmo-addiction-drives-man-to-poison-family/http://massively.joystiq.com/2008/11/14/mmo-addiction-drives-man-to-poison-family/http://massively.joystiq.com/2008/11/14/mmo-addiction-drives-man-to-poison-family/#commentsFiled under: , , ,


Addiction as it applies to MMOs and internet activity in general is a contentious issue. Many of the more unusual or extreme stories regarding the actions that result from digital addiction tend to come to us from Asia, especially China. The pace and fervor with which China's internet savvy population has seized the web and all that it offers -- both good and bad -- is staggering. The web has become integral to entertainment in China, particularly for the younger generation, but it's brought with it a host of societal problems and crime.

Only days ago, the Chinese government classified Internet addiction as a mental disease, a fact which may well stay the execution of Hu Ange, a 22-year-old man who poisoned his own parents... apparently so they would not interfere with his addiction to the online game Legend. Hu was sentenced to death, but the case is now being appealed on the grounds that he is mentally ill.

Continue reading MMO addiction drives man to poison family

MassivelyMMO addiction drives man to poison family originally appeared on Massively on Fri, 14 Nov 2008 09:00:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>addictionasiachengduchinacontroversialcontroversylegendmental-illnesspoisonshanghaishanghai-dailyFri, 14 Nov 2008 09:00:00 EST