Bronnoysund, Norway’s central registry, and Skatteetaten, the country’s tax authority, announced Wednesday at the Nokios conference that they are partnering with consultancy Ernst & Young (EY) to build a metaverse tax office in Decentraland.
According to Nokios, Bronnoysund and Skatteetaten intend to provide tax services to tech-savvy individuals while establishing their Web3 presence.
Magnus Jones, Nordic blockchain innovation leader at EY, wrote in a LinkedIn post, crediting Norwegian authorities for issuing guidance on how to tax DeFi and NFT with the metaverse tax office initiative.
“Congratulations once again to the Norwegian authorities who dare to take steps to bring clarity in a complex landscape. As well as issuing the world’s first guidance on how to tax DeFi and also NFTs, and being a pioneer in the cryptocurrency space in general.”
“More and more authorities see a clean need to be present on the systems wherein especially younger generations are located, both for tax and prison purposes with recognize to statistics.”
On Wednesday, EY announced that its global network, EY wavespace, has expanded into the metaverse to help clients co-innovate and address any business challenges in the virtual world. EY has also launched a metaverse lab where technologists build custom metaverse environments for various use cases.
In addition to launching into the metaverse, Bronnoysund is also exploring other Web3 services such as DAOs, smart contracts, wallets and others.
Norwegian government and Web3
The Norwegian government has begun to embrace Web3 in recent months.
In June, the Norwegian government announced that it is using Ethereum’s scaling solution, Arbitrum, to launch a catch-all tablet platform for unlisted companies.
In September, the central banks of Norway, Sweden and Israel partnered with the Bank for International Settlements to explore the use of a CBDC (central bank digital currency) for cross-border payments.
Other countries on the Web3
Other countries implementing Web3 tools domestically include South Korea, which plans to offer blockchain-based identities to its citizens; Japan, which plans to promote Web3 services using metaverse and NFT; and China, as its largest cities, Beijing and Shanghai, recently unveiled plans for metaverse.
Other authorities and institutions in the metaverse
The metaverse has seen a massive influx of governments and agencies investing in the metaverse space in recent months.
Earlier this month, the United Arab Emirates partnered with Multiverse Labs to launch a new city in the metaverse to boost tourism.
Last week, the International Criminal Police Organization (Interpol) announced the launch of its fully operational metaverse.
Interpol said the new virtual world would allow it to offer immersive training courses to law enforcement around the world.
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