Philippine regulator tells Axie Infinity players they must pay tax on income from game By Cointelegraph


Philippine regulator tells Axie Infinity players they must pay tax on income from game

Amid the enormous success of crypto-powered game Axie Infinity in the Philippines, the local Department of Finance has made clear that it wants a cut of profits generated by playing Axie and other play-to-earn games.

An August 23 report from Inquirer cites Philippine Finance Undersecretary Antonette Tionko as clarifying that any profits gleaned through play-to-earn games are subject to income tax.

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