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Taxation of Virtual Worlds: An Approach to Face Virtual Worlds as Electronic Commerce
Abstract
The novelty of “new realities”, such Virtual Worlds, presents a challenge to the law. Many transactions are made every day on Virtual Worlds, but no taxation is applied to them. Chapter 7 argues, firstly, that the object of such transactions is subject to the right of property and secondly that the electronic currency used to buy such property is electronic money. For both conclusions, one important issue considered will be the legal strength of the EULA. The issues of property and electronic money form the basis of this approach to VW taxation. It is argued that virtual transactions should be taxed, and that is possible to create a legal solution that does not endanger the principal of taxing only profit, and does not tax mere entertainment. Tax law must be applied to these transactions. The author considers these two issues, which allow us to view VW as an electronic commerce marketplace.
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