CIOT Announces Its Return To Second Life®

by Jason Gorringe Tax, News.com, London

29 September 2008

The Chartered Institute of Taxation (CIOT) announced on Friday that it is returning to Second Life® to discuss the tax implications of doing business in a virtual world.

The CIOT’s avatar Tax Anderton will be once again taking questions from an invited audience. Last year a lot of ground was covered but Mr Anderton didn’t have time to deal with all the questions about what is or isn’t taxable when you trade in a virtual world or when you exchange a virtual currency for a national one.

Chris Jones, a CIOT Council member, explained:

“As part of our commitment to helping people understand tax we are delighted to be dealing with this very important issue. The CIOT undertakes a range of educational projects and this is part of that programme.”

The CIOT always recommends that people with a tax issue consult a qualified professional.

All of the CIOT’s members are Chartered Tax Advisers (CTAs) who have passed the UK’s ‘gold standard’ tax qualification.

Mr Jones adds:

“There are many small businesses operating within Second Life and it is important that they understand what the issues are with regard to their taxation.”

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