Trends & Innovations – Thursday (Investor’s Business Daily)

Investor's Business Daily - China's gov't has begun to levy taxes on virtual assets. Gamers who get magic items, gold or other assets in virtual worlds are being taxed at a 20% rate. Thanks in large part to the popularity of multiplayer online games, China's virtual goods market has grown into a $1.45 bil industry. Some firms hire young Chinese to play games, and then they sell their players' winnings online. The tax in part takes aim at this practice, which is called "gold farming."

Original post by Investor's Business Daily and software by Elliott Back