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Norway opens a tax office in metaverse Decentraland (MANA)

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Norway has been making a lot of Web3 interventions lately. Most recently, the country’s tax authority has teamed up with consultancy Ernst and Young to build a tax office in the metaverse Decentraland (MANA)

Norway dives into the metaverse

After announcing its Ethereum (ETH)-based central bank digital currency (MNBC) project, Norway continues its immersion in Web3. A few days ago, at a conference at NTNU University, the Nordic country announced the creation of a tax office in the Decentraland metaverse.

To lead the project, Skatteetaten, Norway’s tax authority, and Brønnøysund, the country’s national registry, have approached the consulting firm Ernst and Young.

According to Magnus Jones, the executive director of Ernst and Young, the aim of the virtual office is to support users who want to register a company. In parallel, the virtual place aims to help investors declare their capital gains in cryptocurrencies.

The office in question in the Decentraland metaverse

The office in question in the Decentraland metaverse

By participating in this project, the Norwegian government has tried to understand Web3 and its issues before regulating it. Furthermore, in one of his LinkedIn posts, Magnus Jones highlights the importance of administrative authorities in democratising the sector:

Congratulations to the Norwegian authorities for daring to take steps to bring clarity to this complex area. We need to move forward with the world’s first guidance on how to regulate DeFi and NFTs, and thus become leaders in the cryptocurrency industry. “

As for the virtual tax office, it is publicly accessible on Decentraland at the following coordinates: 59, 138. As a reminder, Decentraland is a decentralised metaverse built on the Ethereum blockchain.

Norway is currently far from being the only country interested in the metaverse. Since the transformation of Facebook into a meta, states around the world are turning to the industry.

While Japan has voted for tax breaks for Web3 companies, France has just published a 100-page report on the metaverse. Commissioned by the Ministry of the Economy, this document presents the challenges of metaverses to make France a place of innovation.

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