Recently gaming company representatives from the leading companies met authorities to discuss the taxation issue facing online gaming companies. Company representatives from companies such as sky exchange-id.info raised their concerns regarding the proposal to levy higher goods and services tax on the gaming industry. Gaming platforms and companies that operate the platforms are concerned that a higher goods and services tax on them will adversely impact them. Some smaller players and startups would not be able to survive if their consumer base is small.
Company representatives from all leading online gaming skyexchange-id.info with a wide and growing consumer base may be able to deal with the situation. But startups will have to shelve their expansion plans. The problem is that almost all online gaming companies will never be able to pass the cost of taxation to gamers. A Gaming company like sky exchange registration only offer a gaming platform to gamers. A gamer is free to play any game with or without money. Gamers on online platforms come from small towns and cities. They do not invest a huge amount to play the game of their choice. And the professional gamer’s base is still small in the country.
There was a proposal by the governing body of goods and services taxes that a higher tax of 28 per cent should be levied on gaming companies. The current rate is 18 per cent is charged on the total gaming fee of skyexchange-id.info an online platform. This is the fee that a company operating the online platform charges gamers. The recommendation of the governing body of goods and services taxes is that the 28 per cent should be levied on the entire stake value. The stake value chain includes gaming fees generated by an online gaming platform and prize money generated by gamers.
Those gamers who come to sky exchange registration do not have to pay any taxes or charges. They merely have to deposit the money in the virtual account, if they want to play a game with real money. There are free versions of games as well. The platform offers prizes to only those who play with real money.
