Norway opens a tax office in the metaverse Decentraland (MANA)

In recent times, Norway has increased its interventions within Web3. Most recently, the country’s tax administration partnered with consulting firm 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, during a conference at NTNU University, the Nordic country announced the creation of a tax office in the metaverse Decentraland.

To lead this project, the Swedish Tax Agency, Norway’s tax administration, and Brønnøysund, the country’s population register, turned to the consulting firm Ernst and Young.

According to Magnus Jones, Managing Director of Ernst and Young, the purpose of this virtual office is to support users who want to register a company. in parallel, the virtual place with the ambition to help investors declare their capital gains in cryptocurrencies.

The office in question in the metaverse Decentraland

By participating in this project, the Norwegian government tried to understand Web3 and its challenges before regulating it. Besides, in one of his LinkedIn posts, Magnus Jones emphasizes the importance of administrative authorities in the democratization of the sector:

“Congratulations to the Norwegian authorities who dare to take steps to bring clarity to this complex area. We need to move forward with early global guidance on how to regulate DeFi and NFTs and thus become a leader in the cryptocurrency industry.”

Regarding the virtual tax office, it is accessible to the public on Decentraland at the following coordinates: 59, 138. As a reminder, Decentraland is a decentralized metaverse built on the Ethereum blockchain.

At the moment, Norway is far from the only country interested in the metaverse. Since the transformation of Facebook to Meta, States around the world are turning to this industry.

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

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Sources: LinkedIn and Kaupr

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