Selling virtual money also requires taxes

1. The income obtained from the purchase of virtual currency by an indivial through the Internet and the sale to others after the price increase belongs to the taxable income of personal income tax, which should be calculated and paid according to the item of "income from property transfer". The original value of the property sold by an indivial is the price and related taxes paid by the acquisition of 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. All online transactions that earn income should be taxed

2. 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.

3. 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.

4. This is certainly unreasonable. Virtual currency generally does not need to pay tax. If you pay this tax, it is not equal to your original value. It will be very expensive and not cost-effective

5. If cash withdrawal is reflected, taxes and fees are required, which are all available.

6. 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.

7. Beijing Local Taxation Bureau:
we have received your request for instructions on the issue of personal income tax collection for indivials who obtain income from online sales of virtual currency (jdsge [2008] No. 114). The reply is as follows:
1. The income obtained by an indivial from purchasing a player's virtual currency through the Internet and selling it to others after a price increase belongs to the taxable income of personal income tax, which should be calculated according to & quot; Income from property transfer; Indivial income tax is calculated and paid
2. The original value of an indivial's property selling virtual currency is the price and relevant taxes paid for his purchase of network virtual currency< 3. If an indivial is unable to provide the original value certificate of the property, the original value of the property shall be verified by the competent tax authority<

State Administration of Taxation
September 28, 2008

8. The main points of the official reply of the State Administration of Taxation on Levying Indivial Income Tax on the purchase and sale of virtual currency; Income from property transfer; Indivial income tax is calculated and paid< 2. The original value of a person's property selling virtual currency is the price and relevant taxes paid for his purchase of network virtual currency< (3) if an indivial is unable to provide evidence of the original value of the property, the original value of the property shall be verified by the competent tax authority
small survey

9. Bitcoin trading and trading in China are illegal and non-conforming
now trading is purchased through the non regulatory exchange platform, so there is no need to pay tax for the time being
there is no standard and no place to pay