Norway Introduces Metaverse Tax Office In Decentraland
Reports said that Norway is continuing its adaption of web3 technology by introducing a metaverse tax office in the popular virtual world, Decentraland.
It has been reported that the move by the government agencies Brønnøysund Register Center and Skatteetaten, the nation’s tax authority, is a partnership with Ernst & Young (EY). Together, they hope the metaverse tax office will help connect with Norway’s younger, tech-native generation. The announcement came during the Nokios ICT conference, in Norway.
However, the latest move by the Norwegian government will see the creation of a real metaverse tax office in Decentraland. To clarify, the agencies taking on this task are the Brønnøysund Register Center, which manages several Norway public registers, and Skatteetaten, the nation’s tax authority.
The report said that the firm chosen to help them in this new metaverse challenge is Ernst & Young. Notably, EY already has a digital presence in Decentraland, with its own offices.
Magnus Jones, the Innovation Lead at EY, said:
“More and more authorities see a clear need of being present at the platforms where mainly younger generations are both for tax and legal purposes with regards to information.”
Likewise, Norway hopes its new metaverse tax office with EY will encourage the younger generation to visit the space in Decentraland. With a growing crypto community in Norway, the government agency wants to help educate people in the metaverse. Questions such as how to report crypto earnings and other web3-related queries will be answered by the staff here in the virtual space.
Thus, Brønnøysund has big plans for using web3 in the future. Currently, they are exploring including decentralized autonomous organizations (DAO), wallets, and NFTs.
Source: NFT Evening