Uses that income to buy out players of certain items.
This week marks a notable change in how Old School RuneScape’s economy works. As of today’s update, transactions on the Grand Exchange will now be taxed at 1% with a cap of 5 million gold and threshold for any item sold under 100 gold.
We’ve added a 1% tax for all sales on the Grand Exchange. Any item sold through the Grand Exchange will be subject to the tax which will be deducted from the initial sale price. This tax is applied on a per item basis, so if selling multiple items, the tax is applied per item sold, rather than the total received.
The update is part of an initiative to pull gold and items out of the economy, which leads to phase 2 of the plan; buying out certain over-produced items. The taxes collected from player transactions will be used in a mostly automated system to buy certain items chosen by Jagex from the Grand Exchange, thus removing them from the economy entirely. This is being done to ensure that quantities of certain goods aren’t too plentiful and includes things like god swords and equipment, toxic blowpipes, and more.
When a taxed trade takes place through the Grand Exchange, part of the taxes paid will be consigned to a virtual coffer. An automatic system will then use those funds to purchase specific items, chosen by us. The system decides which items to buy based on the estimated quantity of the item entering the game per day and the amount we’d like it reduced by.
More information about this week’s update available on the official website.