This means that virtual items acquired within Entropia Universe have a real cash value, and a participant may, at any time, initiate a withdrawal of their accumulated PEDs back into real world currencies according to the fixed exchange rate, minus transaction fees, the minimum amount for a withdrawal is 1000 PED.

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And it will have to issue general debt for the same amount to cover the withdrawal.

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The amount of any hardship withdrawal is limited to your actual need.

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The bill may even be unconstitutional, if the withdrawal of old rights can be shown to amount to expropriation.

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However the entire amount is ultimately taxed during the withdrawal phase.

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That means that you must report that income and pay tax on the entire amount for the calendar year that you make the withdrawal.

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The reader pulls up a ten-digit signature code, created for that particular sale or cash withdrawal, and debits or loads the card with the appropriate amount of money.

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So, for example, if you made a hardship withdrawal on August 29, 2012, you must report that amount and pay tax on that amount for the 2012 tax year.

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At present, there is a daily cash withdrawal limit of 300 euros and a cap of 1, 000 euros on the amount that can be taken out of the country.

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