Philippine Regulator Says Axie Infinity Players Must Pay Tax on From
Philippine Regulator Says Axie Infinity Players Must Pay Tax on From Income
- Philippine Axie Infinity (AXS) players must pay tax on income from the game.
- The government didn’t decide whether Axie’s in-game NFTs should be listed as securities or currency.
The Philippines government said that Axie Infinity (AXS) players must pay tax on income from the game.
It seems like things just got real for the players of the popular online game Axie Infinity in The Philippines. According to the Department of Finance (DOF), all these players must pay income taxes due from such transactions.
The DOF has revealed that it wants a cut of Axie Infinity income. In other words, the regulator wants a piece of cake from players earning from the game the play-to-earn game. The news comes amid the huge success of the crypto-powered game Axie Infinity in the Philippines.
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