This article was first published by Bloomberg Tax on September 13, 2022 here.

A growing number of companies are moving, or considering moving, to the metaverse ecosystem to create an immersive digital experience for users. When exploring a shift to the metaverse, companies must consider the high-level taxation aspects of doing business in this virtual environment.

key takeaways

• The metaverse ecosystem is attracting companies from all industries and is no longer limited to companies with an existing deep presence in the digital space.
• When exploring a shift to the metaverse, it’s wise for businesses to carefully consider the tax implications of indirect taxes, such as VAT and sales tax, and direct taxes early on.
• Although digital developments always evolve much faster than…