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Tax for Techs

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This article was first published by Bloomberg Tax on 13 September 2022 here. A growing number of companies are moving, or are considering moving, to the metaverse ecosystem to create an immersive digital experience for users. When exploring a move to the metaverse, companies should consider the high-level tax aspects when doing business in this virtual environment. Key Takeaways The metaverse ecosystem is attracting businesses across industries and is no longer limited to companies with…

On June 2, 2020, the United States Trade Representative (USTR) announced that his office is beginning investigations into digital services taxes that have been adopted or are being considered by a number of trading partners of the United States. The investigations will be conducted under Section 301 of the 1974 Trade Act. This provision gives the USTR broad authority to investigate and respond to a foreign country’s action which may be unfair or discriminatory and negatively affect…