Enterprise income tax of virtual currency in digital economy
Publish: 2021-05-21 09:24:28
1. According to the official reply of the State Administration of Taxation on the issue of indivial income tax on the income of indivials from buying and selling virtual currency through the Internet (GSH [2008] No. 818), the income obtained by indivials from purchasing players' virtual currency through the Internet and selling it to others after price increase belongs to the taxable income of indivial income tax, The indivial income tax shall be calculated and paid according to the item of "income from property transfer". The original value of an indivial's property in selling virtual currency is the price and related taxes paid for his purchase of network virtual currency. If an indivial is unable to provide evidence of the original value of his property, the original value of his property shall be verified by the competent tax authorities.
2. The State Administration of Taxation emphasizes that the original value of an indivial's property in selling virtual currency, the price paid for his purchase of network virtual currency and related taxes. If an indivial is unable to provide evidence of the original value of his property, the original value of his property shall be verified by the competent tax authorities
according to the relevant sources of Beijing Local Taxation Bureau, the tax rate of indivial income tax calculated according to the "income from property transfer" project is fixed at 20%, and Beijing Local Taxation Bureau will also introce relevant measures to verify the original value of virtual currency property sold by indivials
about virtual currency:
virtual currency refers to the substitute currency circulating in the network virtual world. In addition to the virtual currencies issued by major online game companies with various names, Tencent Q currency is also widely used
at present, the online transaction in the virtual world has greatly exceeded people's imagination, and has formed a huge online transaction market of proction, supply and marketing. Moreover, a group of professional workers specialized in "coin printing" came into being; There are also special exchange shops for various game currencies.
according to the relevant sources of Beijing Local Taxation Bureau, the tax rate of indivial income tax calculated according to the "income from property transfer" project is fixed at 20%, and Beijing Local Taxation Bureau will also introce relevant measures to verify the original value of virtual currency property sold by indivials
about virtual currency:
virtual currency refers to the substitute currency circulating in the network virtual world. In addition to the virtual currencies issued by major online game companies with various names, Tencent Q currency is also widely used
at present, the online transaction in the virtual world has greatly exceeded people's imagination, and has formed a huge online transaction market of proction, supply and marketing. Moreover, a group of professional workers specialized in "coin printing" came into being; There are also special exchange shops for various game currencies.
3.
According to the regulations of notice 2014-21 of the IRS:
1. The information range of virtual currency payment is consistent with that of other property payment
2. Virtual currency paid to service providers and independent contractors should be taxed, and the tax rules of freelance also apply to virtual currency. Taxpayers usually have to get form 1099-MISC
3. When using virtual currency to pay wages to employees, they must also pay taxes, and they also need to pay federal income tax and payroll tax
4. The third party accepting virtual currency settlement payment on behalf of the merchant must report the payment status in form1099-k, payment card and the third party network dealer
5. Based on the fact that the virtual currency in the hands of taxpayers is a kind of capital asset, the gains or losses in the transaction of virtual currency and the sales of virtual currency need to be taxed
extended information:
legal status of bitcoin in China
in China, the regulations on the administration of RMB prohibit the proction and sale of token tickets. Because there is no clear judicial interpretation of the definition of token ticket, if bitcoin is included in the "token ticket", the legal prospect of bitcoin in China will face uncertainty
the notice of the Ministry of culture and the Ministry of Commerce on strengthening the management of virtual currency of online games (Wen Shi Fa [2009] No. 20) on June 4, 2009 stated that the application scope of virtual currency of online games was defined for the first time, and the distinction between the current virtual currency of online games and the virtual props in the game was made; At the same time, the notice said that the "notice" stipulates that enterprises engaged in related services must be approved before they can operate< br />
4. In a recent reply to the Beijing Local Taxation Bureau, the State Administration of Taxation said that the income obtained by indivials from purchasing players' virtual currency through the Internet and selling it to others after price increase belongs to the taxable income of indivial income tax, which should be calculated and paid according to the item of "income from property transfer"
according to the regulations, the income from property transfer is calculated as the amount of taxable income, which is the balance of the income from one-time transfer of property (no matter how many times it is paid, it should be merged into the income from one-time transfer of property) minus the original value of the property and reasonable expenses, and the tax rate of 20% is applied to calculate and pay indivial income tax.
according to the regulations, the income from property transfer is calculated as the amount of taxable income, which is the balance of the income from one-time transfer of property (no matter how many times it is paid, it should be merged into the income from one-time transfer of property) minus the original value of the property and reasonable expenses, and the tax rate of 20% is applied to calculate and pay indivial income tax.
5. The State Administration of Taxation announced on the 28th the "reply on the issue of personal income tax on the income of indivials from buying and selling virtual currencies through the Internet", which means that domestic indivials must pay personal income tax on the income they get from selling virtual currencies to others after they purchase virtual currencies through the Internet
in response to the Beijing Local Taxation Bureau's request for instructions on the issue of indivial income tax on the income derived from the sale of virtual currency through the Internet, the State Administration of Taxation has made the above reply, clearly stipulating that the income derived from the purchase of virtual currency through the Internet and the sale to others after the price increase belongs to the taxable income of indivial income tax, The indivial income tax shall be calculated and paid according to the item of "income from property transfer"
at the same time, the State Administration of Taxation emphasizes that the original value of the property of an indivial selling virtual currency is the price and related taxes paid for his purchase of network virtual currency. If an indivial is unable to provide evidence of the original value of his property, the original value of his property shall be verified by the competent tax authorities
according to the relevant sources of Beijing Local Taxation Bureau, the tax rate of indivial income tax calculated according to the project of "income from property transfer" is fixed at 20%. Beijing Local Taxation Bureau will also introce relevant measures to verify the original value of virtual currency property sold by indivials, but there is no timetable for the implementation of the policy at present.
in response to the Beijing Local Taxation Bureau's request for instructions on the issue of indivial income tax on the income derived from the sale of virtual currency through the Internet, the State Administration of Taxation has made the above reply, clearly stipulating that the income derived from the purchase of virtual currency through the Internet and the sale to others after the price increase belongs to the taxable income of indivial income tax, The indivial income tax shall be calculated and paid according to the item of "income from property transfer"
at the same time, the State Administration of Taxation emphasizes that the original value of the property of an indivial selling virtual currency is the price and related taxes paid for his purchase of network virtual currency. If an indivial is unable to provide evidence of the original value of his property, the original value of his property shall be verified by the competent tax authorities
according to the relevant sources of Beijing Local Taxation Bureau, the tax rate of indivial income tax calculated according to the project of "income from property transfer" is fixed at 20%. Beijing Local Taxation Bureau will also introce relevant measures to verify the original value of virtual currency property sold by indivials, but there is no timetable for the implementation of the policy at present.
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8. A few days ago, the State Administration of Taxation announced an official reply on the issue of personal income tax levied on indivials' income from buying and selling virtual currency through the Internet: the income obtained by indivials from purchasing virtual currency of players through the Internet and selling it after price increase belongs to the taxable income of personal income tax, which should be calculated according to the item of "income from property transfer", and pay 20% personal income tax. This shows that in the future, domestic indivials will have to pay personal income tax when they buy players' virtual currency through the Internet and sell the income to others after price increase
online "virtual property", also known as "online property", generally refers to the accounts of Internet users and game players in online games and the accumulated "money", "equipment", "pets" and other "property"
there is a popular view in economics that "where there is land, there is economy". Now, in the network virtual space, not only the software itself, the right to participate in online games, along with the virtual weapons, equipment inside the game, and even the "plug-in" used for cheating, have become commodities that can be circulated, with the emergence of sellers and buyers and the breeding of profits. But these fictitious "net money" calculate private property? Is the right of network "virtual property" protected by law? It used to be a realistic subject faced by law
previously, several cases of theft and infringement of "virtual property" on the Internet were tried by domestic courts, and the judgments made found that the virtual property on the Internet has value content, which really cheered many people online and offline, because the virtual property was finally determined by the court to have property value, which has a certain exemplary role. There are a lot of "net money" illegal infringement of the game players for the legal judgment results feel great comfort
in view of this, it is necessary to clarify the following issues when collecting personal income tax on virtual net property: on the one hand, does virtual currency belong to the private property of players“ The premise of "property transfer" is that the indivial has the ownership of the property. If the virtual network property is stolen or the game operator server has a problem and the system returns to zero, the player has the right to recover their private property. The game operator must pay for the loss of tens of thousands of yuan of wealth for the player, which is only a string of digital codes for them. Now the law has recognized the private right of virtual network property, which shows that players have the right to obtain "income from property transfer"; On the other hand, since the law has recognized the legitimacy of transactions between online game players, this instry chain has been recognized as legitimate. Therefore, the theft and fraud in online financial transactions should be included in the scope of legal protection
however, there is no clear conclusion on what is virtual currency, whether virtual currency itself impacts real currency, and whether it should be protected by legislation. At this time, the network virtual property tax, may bring controversy in the specific operation. For example, how to identify online game players trading virtual currency behavior? How to supervise and collect the income? These are all thorny details. At the same time, many players in online games are all netizens in private, and most of the transactions can be achieved through mutual verbal commitment. Therefore, in the case of the lack of written records, the tax authorities obviously lack of effective means of authentication and verification to collect personal tax on the sale of virtual currency
although indivial cases of loss and theft of virtual network property have been properly solved in accordance with the law, the state has not yet issued special laws and regulations to regulate the transaction of virtual network property. From the perspective of jurisprudence, under normal circumstances, we should take the lead in recognizing the legitimacy of the ownership of virtual network property, in order to tax the legitimate property transactions. But at present, in the absence of special laws and regulations, we can only refer to the relevant legal provisions. It is obviously too hasty to directly adopt the existing personal income tax rate of 20%. No matter whether the proportion of 20% is reasonable or not, the difference between virtual transaction and real transaction and the effective collection and management of virtual transaction after taxation are still worth improving
on the one hand, the tax base of virtual network finance is undoubtedly assets valued in real currency. Now virtual currency has been regarded as an intangible asset that can be measured by real currency. From this perspective, it is necessary to formulate a transaction standard between virtual network and real life to protect the intangible assets of Internet users, and on this basis, tax virtual goods exchanged by virtual currency; On the other hand, in view of the lack of legal support for the reliability of players' private transactions, it is necessary to clearly determine that the virtual network financial transactions are protected by law. If the players have the right to deal with the virtual network property freely, then in terms of the relevant network management, they should carry out effective supervision and maintenance in accordance with the provisions of the state
in a word, what we need to clarify at present is all kinds of disputes about virtual online finance, and then formulate and introce more practical supporting system measures. On this basis, we can levy personal income tax on the income obtained from online trading of virtual online finance, so as to get more understanding and support from all walks of life.
online "virtual property", also known as "online property", generally refers to the accounts of Internet users and game players in online games and the accumulated "money", "equipment", "pets" and other "property"
there is a popular view in economics that "where there is land, there is economy". Now, in the network virtual space, not only the software itself, the right to participate in online games, along with the virtual weapons, equipment inside the game, and even the "plug-in" used for cheating, have become commodities that can be circulated, with the emergence of sellers and buyers and the breeding of profits. But these fictitious "net money" calculate private property? Is the right of network "virtual property" protected by law? It used to be a realistic subject faced by law
previously, several cases of theft and infringement of "virtual property" on the Internet were tried by domestic courts, and the judgments made found that the virtual property on the Internet has value content, which really cheered many people online and offline, because the virtual property was finally determined by the court to have property value, which has a certain exemplary role. There are a lot of "net money" illegal infringement of the game players for the legal judgment results feel great comfort
in view of this, it is necessary to clarify the following issues when collecting personal income tax on virtual net property: on the one hand, does virtual currency belong to the private property of players“ The premise of "property transfer" is that the indivial has the ownership of the property. If the virtual network property is stolen or the game operator server has a problem and the system returns to zero, the player has the right to recover their private property. The game operator must pay for the loss of tens of thousands of yuan of wealth for the player, which is only a string of digital codes for them. Now the law has recognized the private right of virtual network property, which shows that players have the right to obtain "income from property transfer"; On the other hand, since the law has recognized the legitimacy of transactions between online game players, this instry chain has been recognized as legitimate. Therefore, the theft and fraud in online financial transactions should be included in the scope of legal protection
however, there is no clear conclusion on what is virtual currency, whether virtual currency itself impacts real currency, and whether it should be protected by legislation. At this time, the network virtual property tax, may bring controversy in the specific operation. For example, how to identify online game players trading virtual currency behavior? How to supervise and collect the income? These are all thorny details. At the same time, many players in online games are all netizens in private, and most of the transactions can be achieved through mutual verbal commitment. Therefore, in the case of the lack of written records, the tax authorities obviously lack of effective means of authentication and verification to collect personal tax on the sale of virtual currency
although indivial cases of loss and theft of virtual network property have been properly solved in accordance with the law, the state has not yet issued special laws and regulations to regulate the transaction of virtual network property. From the perspective of jurisprudence, under normal circumstances, we should take the lead in recognizing the legitimacy of the ownership of virtual network property, in order to tax the legitimate property transactions. But at present, in the absence of special laws and regulations, we can only refer to the relevant legal provisions. It is obviously too hasty to directly adopt the existing personal income tax rate of 20%. No matter whether the proportion of 20% is reasonable or not, the difference between virtual transaction and real transaction and the effective collection and management of virtual transaction after taxation are still worth improving
on the one hand, the tax base of virtual network finance is undoubtedly assets valued in real currency. Now virtual currency has been regarded as an intangible asset that can be measured by real currency. From this perspective, it is necessary to formulate a transaction standard between virtual network and real life to protect the intangible assets of Internet users, and on this basis, tax virtual goods exchanged by virtual currency; On the other hand, in view of the lack of legal support for the reliability of players' private transactions, it is necessary to clearly determine that the virtual network financial transactions are protected by law. If the players have the right to deal with the virtual network property freely, then in terms of the relevant network management, they should carry out effective supervision and maintenance in accordance with the provisions of the state
in a word, what we need to clarify at present is all kinds of disputes about virtual online finance, and then formulate and introce more practical supporting system measures. On this basis, we can levy personal income tax on the income obtained from online trading of virtual online finance, so as to get more understanding and support from all walks of life.
9. In the era of digital economy, how can financiers cope with the changes of finance, accounting and taxation? Only those who have insight into and control the general trend of financial, accounting and taxation changes can become winners in the era of digital economy. These are those who have insight into and control the general trend of financial, accounting and taxation changes, In order to become a winner in the era of digital economy, this is the rationalization of financial decision-making, the hollowing out of accounting system and the simplification of taxation
in the era of digital economy, how to deal with the changes of finance, accounting and taxation
the era of digital economy leading the reform of finance, accounting and taxation has come. This is both an opportunity and a challenge for enterprises and the government; The most urgent task is to take forward-looking and wise actions on the basis of clearly observing the general trend, so as to promote the transformation of challenges into opportunities
digital economy brings human beings from the instrial age to the information age, and makes information assets replace traditional commercial assets as the primary proctivity, which is realized by transforming information into knowledge. This process is from the visible world to the knowable world. In the long process of human evolution, "not going out of the house, knowing the world" is either just a dream, or only the patent of a few people with special functions. Now, it's so common that we take it for granted. It's all thanks to the digital economy
digital economy is rapidly and profoundly changing all aspects of human life with the help of powerful information function - the ability to obtain and especially use information. As far as enterprises are concerned, these changes are mainly reflected in finance, accounting and taxation. These are the three "currency carriages" that support and drive the performance and competitiveness of enterprises. In this era of "managing money well can manage enterprises well", it is more important and urgent than ever before to promote adaptive change on the "money carriage" to meet the challenges and opportunities brought by the development of digital economy
the two key functions of currency carriage, namely, analysis function and decision-making function, are the cornerstone for the survival and development of all enterprises, and also the ultimate source of performance and competitiveness. The decision-making function covers decision-making, implementation, approval and supervision, which is higher than the analysis function. Analytic function belongs to the field of human cognition, which aims to realize the transformation from unknowable to knowable; The function of decision-making belongs to the field of human action, which aims to achieve the predetermined goals and interests of human beings. Both functions depend on the information function“ The trinity of "information analysis and decision-making" is the basic standard to distinguish first-class enterprises from second-class enterprises, regardless of performance or competitiveness. The magic and greatness of digital economy lies in fundamentally overcoming the information problems that have restricted human's ability of analysis and decision-making for a long time, and opening up new opportunities for enterprises' survival and development. The premise is to properly deal with the challenges of the three "currency carriages" reform trend
the most important thing is to properly deal with the general trend of financial reform: the possibility and importance of rational decision-making have increased rapidly. Different from "accounting carriage" and "tax carriage", the "financial carriage" focuses on the decision-making function. The core of financial management is financial decision: the first is operation decision, the second is investment decision, and the last is financing decision. The three types of financial decisions constitute the key aspects of enterprise management, and also the main forces to determine the fate
the success or failure of a decision depends on the rationality of the decision. Chinese traditional culture has been brought into enterprise decision-making, forming a situation in which perceptual decision-making is superior to rational decision-making, leading to the high risk of decision-making failure, which needs to be changed. Here, the use of digital economy can be used as the most powerful lever to boost the rationalization of financial decision-making. Different from perceptual decision-making, rational decision-making highly depends on the relevant information that is used to judge "gains" and "losses". The decision without relevant information is a blind one, and it is easy to become a loser in the competition. The era of digital economy is also the era of speed: one beat behind is roughly equal to four beats behind, which means that there is almost no chance to catch up with competitors
while driving the rationalization of financial accounting, digital economy also drives the hollowing out of Financial Accounting: accounting information is more and more difficult to reflect the essence of economic transactions“ The concept, type and mode of "transaction" (fragmentation, complexity and virtualization) are quite different from the past. The information function of accounting is either transferred to big data and intelligent platform, or fully outsourced, which leads to the declining function of supporting analysis and decision-making. Accounting profession and team are still indispensable, but its real role is more and more questionable
how to deal with it? One method is to develop and apply management accounting, and the better method is to integrate management accounting methods and tools into financial management, so as to make the management decisions of enterprises return to the core part of operation, investment and financing decisions. The development of digital economy makes these efforts more urgent and easy to bring low-key and pragmatic results
the reform trend of "tax carriage" is simplification. For enterprises, this means that tax risk control and tax planning need to turn to the "node mode", rather than a comprehensive attack. The way for the United States to control the global ocean is nothing more than to control strategic Straits, each of which is a "node". In the tax field, big data creates new opportunities for accurately locking nodes
as far as the government is concerned, simplification should be applied to tax system, tax administration and tax collection. The best tax system, tax administration and tax administration is the tax system, tax administration and tax administration with the least information dependence. The boundary of big data ends with the right of privacy, and the legitimate purpose of preventing tax evasion must be subject to the boundary of civil rights. Simplification is also important to rece the unnecessary cat and mouse game between the government and taxpayers.
in the era of digital economy, how to deal with the changes of finance, accounting and taxation
the era of digital economy leading the reform of finance, accounting and taxation has come. This is both an opportunity and a challenge for enterprises and the government; The most urgent task is to take forward-looking and wise actions on the basis of clearly observing the general trend, so as to promote the transformation of challenges into opportunities
digital economy brings human beings from the instrial age to the information age, and makes information assets replace traditional commercial assets as the primary proctivity, which is realized by transforming information into knowledge. This process is from the visible world to the knowable world. In the long process of human evolution, "not going out of the house, knowing the world" is either just a dream, or only the patent of a few people with special functions. Now, it's so common that we take it for granted. It's all thanks to the digital economy
digital economy is rapidly and profoundly changing all aspects of human life with the help of powerful information function - the ability to obtain and especially use information. As far as enterprises are concerned, these changes are mainly reflected in finance, accounting and taxation. These are the three "currency carriages" that support and drive the performance and competitiveness of enterprises. In this era of "managing money well can manage enterprises well", it is more important and urgent than ever before to promote adaptive change on the "money carriage" to meet the challenges and opportunities brought by the development of digital economy
the two key functions of currency carriage, namely, analysis function and decision-making function, are the cornerstone for the survival and development of all enterprises, and also the ultimate source of performance and competitiveness. The decision-making function covers decision-making, implementation, approval and supervision, which is higher than the analysis function. Analytic function belongs to the field of human cognition, which aims to realize the transformation from unknowable to knowable; The function of decision-making belongs to the field of human action, which aims to achieve the predetermined goals and interests of human beings. Both functions depend on the information function“ The trinity of "information analysis and decision-making" is the basic standard to distinguish first-class enterprises from second-class enterprises, regardless of performance or competitiveness. The magic and greatness of digital economy lies in fundamentally overcoming the information problems that have restricted human's ability of analysis and decision-making for a long time, and opening up new opportunities for enterprises' survival and development. The premise is to properly deal with the challenges of the three "currency carriages" reform trend
the most important thing is to properly deal with the general trend of financial reform: the possibility and importance of rational decision-making have increased rapidly. Different from "accounting carriage" and "tax carriage", the "financial carriage" focuses on the decision-making function. The core of financial management is financial decision: the first is operation decision, the second is investment decision, and the last is financing decision. The three types of financial decisions constitute the key aspects of enterprise management, and also the main forces to determine the fate
the success or failure of a decision depends on the rationality of the decision. Chinese traditional culture has been brought into enterprise decision-making, forming a situation in which perceptual decision-making is superior to rational decision-making, leading to the high risk of decision-making failure, which needs to be changed. Here, the use of digital economy can be used as the most powerful lever to boost the rationalization of financial decision-making. Different from perceptual decision-making, rational decision-making highly depends on the relevant information that is used to judge "gains" and "losses". The decision without relevant information is a blind one, and it is easy to become a loser in the competition. The era of digital economy is also the era of speed: one beat behind is roughly equal to four beats behind, which means that there is almost no chance to catch up with competitors
while driving the rationalization of financial accounting, digital economy also drives the hollowing out of Financial Accounting: accounting information is more and more difficult to reflect the essence of economic transactions“ The concept, type and mode of "transaction" (fragmentation, complexity and virtualization) are quite different from the past. The information function of accounting is either transferred to big data and intelligent platform, or fully outsourced, which leads to the declining function of supporting analysis and decision-making. Accounting profession and team are still indispensable, but its real role is more and more questionable
how to deal with it? One method is to develop and apply management accounting, and the better method is to integrate management accounting methods and tools into financial management, so as to make the management decisions of enterprises return to the core part of operation, investment and financing decisions. The development of digital economy makes these efforts more urgent and easy to bring low-key and pragmatic results
the reform trend of "tax carriage" is simplification. For enterprises, this means that tax risk control and tax planning need to turn to the "node mode", rather than a comprehensive attack. The way for the United States to control the global ocean is nothing more than to control strategic Straits, each of which is a "node". In the tax field, big data creates new opportunities for accurately locking nodes
as far as the government is concerned, simplification should be applied to tax system, tax administration and tax collection. The best tax system, tax administration and tax administration is the tax system, tax administration and tax administration with the least information dependence. The boundary of big data ends with the right of privacy, and the legitimate purpose of preventing tax evasion must be subject to the boundary of civil rights. Simplification is also important to rece the unnecessary cat and mouse game between the government and taxpayers.
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