It doesn't matter where you live or what you do. I'm sure you might have played some kind of game when your kids, or maybe you are still playing it. That depends on what type of game it is. As we grow. things around the change very fast. And so did the gaming industry earlier. Most of us used to play outside, but now I think many people are playing indoor games. I am not talking about chess, ludo, caramel, and other physical. kind of games. but the game interesting has changed a lot. We have shifted from physical dashboards to virtual dashboards. And this is a very huge change.
As technology is growing around us, so do the gaming industry. And it is booming a lot And that's why the government are applying taxes on that to earn more and more. I used to play a lot of games, and my children face physical as well as my. computer as well But now I pretend to get enough time to play games due to my work schedule, but still, I do love to play. racing games like Moto GP. I was planning to play yesterday, but unfortunately, I did not get a good one. Maybe I will find some good racing games next week.
Now things are very cheap as compared to earlier if you. talk about the gaming industry they have massively increased and the quality of games is very amazing. But now things are changing a bit more because people are used to playing games and having fun. But now they want to earn while playing the games. And I think. blockchain technology has allowed them to play. games and earn money for real They are not gone on or in gold and other things that are only used for the game purpose. But they can or the real cryptocurrency and it can be used for them and they can use it as they want.
Yesterday I was watching a YouTube video where I saw that many people. see from other countries are playing blockchain games. and they are looking for a recent amount of money from there, especially in the Philippines after the pandemic everything is online in the gaming industry. did boost up a lot because people didn't have anything to do why were they trying to pass their time online this was like an opportunity for the gaming industry.
The taxation of cryptocurrency income follows a graduated rate ranging from 0% to 35% for citizens and resident alien individuals. There is also an option to avail of an 8% tax on gross sales/gross receipts and other non-operating income above P250,000 for self-employed individuals and professionals.
Although the crypto taxes are high, I'm sure that if people are running a decent amount of money, they are willing to pay taxes, even if it's high or low. they have to survive, then. they must have to follow the rules of the government. This is all. this is obvious. if you don't want to pay tax if you want to pay less tax then you might consider leaving the country or finding other countries where it takes on cryptocurrencies are cheap like Dubai.
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