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Virtual Worlds and Tax Deductions - A South African Perspective


Marketed By :  LAP LAMBERT Academic Publishing   Sold By :  Kamal Books International  
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  • Product Description

The arrival of the Internet and the World Wide Web has had a radical impact on commerce and people’s ability to interact virtually. Through these channels various new methods of earning income have been created. Income earned virtually creates a new type of commerce not previously envisioned whilst the South African Income Tax Act was drawn up. The revenue earned is, however. encompassed in the Act. South African residents have as a result entered the taxation net of the South African Revenue Services without understanding the full implications of being taxed. Of particular importance are the deductions available to residents whose incomes are earned through virtual worlds. The various deductions available in the South African Income Tax Act do not specifically deal with the expenses incurred in the production of virtual world income. The study revealed that deductions would be allowed against taxable income earned through conducting virtual world commerce. The general deduction formula should be applied to all expenses. It appears that the Act can be applied to non- capital expenses incurred for trading in virtual worlds.

Product Specifications
SKU :COC24187
AuthorTheogaren Moodley
Number of Pages72
Publishing Year2012-02-07T00:00:00.000
Edition1 st
Book TypeTaxation & duties law
Country of ManufactureIndia
Product BrandLAP LAMBERT Academic Publishing
Product Packaging InfoBox
In The Box1 Piece
Product First Available On ClickOnCare.com2015-07-28 00:00:00