Philippine regulator tells Axie Infinity players they must pay tax on income from game
Cointelegraph
Published Aug 25, 2021 12:05AM ET
Updated Aug 25, 2021 01:40AM ET
Amid the enormous success of crypto-powered game Axie Infinity in the Philippines, the local Department of Finance has made clear that it wants a cut of profits generated by playing Axie and other play-to-earn games.
An August 23 report from Inquirer cites Philippine Finance Undersecretary Antonette Tionko as clarifying that any profits gleaned through play-to-earn games are subject to income tax.
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Written By: Cointelegraph
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