Philippine regulator says Axie Infinity players must pay income tax
- Philippine Axie Infinity (AXS) players must pay taxes on gaming revenue.
- The government has not decided whether Axie’s in-game NFTs should be listed as securities or currencies.
The Philippine government has said that Axie Infinity (AXS) players have to pay taxes on gaming revenue.
It looks like things are coming true for players of the popular online game Axie Infinity in the Philippines. According to the Ministry of Finance (DOF), all of these actors must pay income taxes due to such transactions.
The DOF has revealed that it wants Axie Infinity’s revenue cut. In other words, the regulator wants players to win gambling to win. The news comes amid the huge success of crypto-powered game Axie Infinity in the Philippines.
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