Taxation is certainly something which is important for an issuer, and you do not want these things to come as a surprise for you while the reward program is already running. This applies both to you as an issuer and to the persons you would like to grant virtual shares to (contributors/virtual shareholders).
As you are likely well aware, all tax treatment depends on individual circumstances and such treatment may also change over time along with the changes in your own business, the reward program, laws and regulations, etc. This is why we cannot know and consider all your circumstances and can discuss the potential tax considerations only generally here. Please consult with your external or in-house tax advisers for going through your circumstances and receiving appropriate tax advice.
Firstly, taxes are normally applied by governments, and they apply in a specific tax jurisdiction / country. So, you should know your country of tax residence and we believe that as you already have business activities and have recruited employees, you are paying taxes in a specific country. In some cases, countries also tax the income or revenue of non-residents.
Secondly, the design of your program determines the applicability of different taxes. For example, the purpose of a virtual share, the behaviour or activity that is rewarded, the type and residence of persons that are rewarded are all relevant for understanding which taxes may apply.
Thirdly, keep in mind also the potential tax implications on recipients. If they receive a cash payment or another benefit under or against the virtual share, they may need to declare and pay income tax on such gain or you may need to withhold a tax.
Example: Taxes in Estonia