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China To Add 20% Tax On Virtual Goods Profits

WorldsinMotion: "China's State Administration of Taxation announced that it will impose a 20 percent personal income tax on profit from virtual money.

The tax specifically targets traders and operations that buy virtual currency from others with the intention to sell it at a mark-up, such as "gold farmers" and account sellers in online games. The tax will also affect resellers in the region who trade in virtual currencies for instant-messaging services and web portals."

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