|

Gaming Cos for Clear Distinction from the Real-money Games

Around 70 online video gaming companies have written to the government asking for a separate categorisation in the digital gaming space to frame clear policies and help accelerate the growth of the industry.

In a letter sent about a week ago to the prime minister’s office (PMO) as well as the ministry of information and broadcasting (MIB), online video game companies including the likes of Gmonks Entertainment, Tulsea, Appsoleut Games, Voidpeak Games, and Newgen Gaming have said that placing online video games in the same category as real money games has led to confusion, especially when it comes to the taxation of such games.

The lack of distinction between online video games and real money games has often led to show cause and tax notices from the authorities which has in turn led to bank and payment gateways denying them service, the letter said.

Indian video game companies often have to clarify to international investors that evolving regulatory frame works are meant for real money games, not video games, a process that slows down investment deals,” the letter sent by the companies on July 4 read.

S-ET Image Source: Google

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *