Bitcoin tax returns
for example, companies engaged in telecommunications services, telecommunications equipment manufacturing, computer software and hardware, new materials, new energy, aerospace, cable digital TV, biomedical procts and other services and proction are commonly known as science and technology instries. At present, it is difficult to distinguish between the good and the bad.
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 />
1. Independent legal entity; 2< Limited liability: joint and several liability is the maximum amount of guarantee each member undertakes (it is also possible to pay up to S $1)
3. No shares or share capital
4. The maximum liability of each member should be clarified in the articles of association
5. Non profit: initially, it was mainly for non-profit organizations
6. Do not participate in benefit distribution
the company needs at least 2 company officials. At least one director must be Singaporean or permanent resident (Bajie can provide)< (2) ordinary companies in Singapore:
1. At least one shareholder and at most 50 shareholders can be natural persons and companies
2. At least one local director and one legal secretary (not the same person, Bajie can provide them)
3. Limited liability
4
5. Three years before the establishment of the company, the profits of the first 100000 Singapore dollars are exempt from corporate tax, the corporate tax rate is 8.5% within 300000 Singapore dollars, and the tax rate is 17% over 300000 Singapore dollars.
however, Singapore, a magical country, as the largest financial center in Asia, and its highly enlightened policy on blockchain and virtual currency, has become the best choice for blockchain and ICO development instry registration
among all types of companies registered in Singapore, non-profit public foundations are widely favored by the development instry of blockchain ICO virtual currency. Below, Bajie international intellectual property will give a detailed introction to this kind of organization, as well as relevant information such as registration conditions and application materials
Singapore companies or non-profit organizations are registered and managed by acra, among which non-profit public foundations are now widely favored by the blockchain ICO virtual currency development instry, Now let's introce this kind of organization in detail:
how to register Singapore Foundation:
Singapore non-profit organization foundation usually registers public company, this kind of company belongs to non-profit organization, each member bears the guarantee liability, the overseas projects of public welfare foundation do not need to pay tax, and the Singapore tax bureau will not tax the local capital injection and investment<
I. information required for registration of Singapore public company:
1. Articles of association and articles of association
2. Affidavit of compliance with the law
3. Affidavit of appointment and qualification of directors
4. Certificate of identity
5. Report form of registered address and office hours of the company
6 The company secretary's and auditor's scheles and stock issue records are required to be submitted within one month after the establishment of the company
2. Basic conditions of the company:
1. Company name
fill in the English name of the company, ending with PTE. Ltd. / limited
2. Registered capital
has no maximum limit, and there is no strict time limit for paid in capital
3. Business scope
generally has no limit, and customers can fill in it according to their own needs, The words should not exceed 28 characters
three, directors and shareholders of the company:
1, company directors
ordinary companies with at least 1 people, and public companies with at least 2 or more people, must have 1 Singapore registered residence or employment permit holders as directors of
2, company shareholders and share ratio
at least 1 or more as shareholders of the company. The directors and shareholders can be the same person. If more than one person is a shareholder, the proportion of their respective shares should be stated.
4. Other registration conditions:
1. Within six months after the establishment of the company, the legal secretary of the company should be appointed.
2. The registered address of the company should be Singapore.
3 Auditors
within 3 months after the establishment of a Singapore company, a registered accounting firm must be appointed as the auditor of the company
private companies with income less than S $5 million can be exempted from annual audit
5. Registration time:
Bajie foreign intellectual property generally takes about 20 working days. If the company name needs special approval, the time will be postponed< 6. Annual inspection and tax return
after registration, the company must go through the annual inspection every year. If it does not operate in Singapore, it does not need to audit the tax return<
details of registration completion documents:
1. Registration license (registration certificate)
2. Detailed registration form (registration paper)
3. Letter of authorization of registered member
4. Announcement of establishment
5. Authorization of commercial secretary
6. First resolution of directors
7. Announcement of registered address
8. Steel seal
9. Official seal
10. Articles of association < B I hope I can help you!
Canada MSB license application process:
a comprehensive and effective compliance plan is the basis for you to fulfill all your obligations under PCMLTFA and related regulations. During the fintrac inspection, it is important to demonstrate that the required documentation is in place and that the employees, agents and all other personnel authorized to act on your behalf are well trained to perform all elements of the compliance process effectively. Senior management must approve the compliance plan and the compliance manager must have the necessary authority to implement the requirements of the plan. You must:
1. Appoint a person in charge of compliance to be responsible for the implementation and supervision of the compliance plan
Develop and apply the latest written compliance policies and proceres approved by senior management Application and recording of risk assessment, including mitigation measures and strategies4. Develop and maintain written training programs for employees, agents and others who have the right to act on your behalf
5. Review your compliance plan (procere, and training plan) every two years to test its effectiveness
license application work
1; Financial business scheme design
2. Prepare and write application materials
3. Submit fintrac MSB license application to the Ministry of finance of Canada
4. Answer questions raised by the Ministry of finance of Canada and fintrac ring the application process
5. If finance Canada and fintrac need us to provide other documents or relevant instructions
Hello, I'm glad to answer your question
1. What information do you need to provide to register a Cayman company
the information to be provided for the registration of a Cayman company is relatively simple. It mainly needs to provide some information about the Cayman company, as follows:
1. The name of the Cayman company (mainly in English)
the name of the Cayman company is relatively free, and can end with the following words: limited, corporation, incorporated, Societe, anonymous Ltd.、Inc.、Corp. S.A
note: sensitive words such as royal, imperial, government and chartered must not appear in the name of the company
2. The business scope of the company is not too limited in principle. Under the legal premise, a company can operate any kind of business. However, the registration of some high-risk instries and gray instries in the Caymans islands will also be restricted, such as oil, blockchain, bitcoin, digital currency, etc., which may not be registered
note: finance, banking, credit, insurance and other special instries need special approval from the government
3. The registered capital of a caymann company does not need capital verification, so it does not need to be paid. The minimum registered capital is US $50000. If it exceeds US $50000, additional tax will be charged. Therefore, the default registered capital of a general registered caymann company is US $50000
4. The registered address of the company must be a real and valid address in the local area of the Caymans islands, and it is not allowed to use a false email address to register the company. Generally, the registered address of the company is provided by the agency
5. Directors and shareholders of the company are required to register with at least one person or more, natural person, no nationality restriction, legal citizen over 18 years old and with independent capacity
directors and shareholders need to provide valid personal identity documents, such as ID card or passport of the people's Republic of China
if the number of shareholders is 2 or more, it is necessary to provide a supplementary explanation of the proportion of shares
2. How to avoid tax reasonably by registering a Caymanian company
there is no income tax, capital gains tax, corporation tax or inheritance tax in the Caymans. At the same time, as the offshore companies in the archipelago category can not carry out on-site operation in the local area, they can only carry out on-site operation in the domestic area. However, it is precisely because there is no need for on-site operation, there will be no tax liability, and there is no need to pay taxes to the government and file tax returns, which makes the islands of caymann a tax haven
the above answers are for your reference, and I hope they can help you
if you have any questions about the registration of the company, you are welcome to discuss with us
The transfer of property from immigrants to overseas needs the approval of safe, and the proof of immigration, such as green card, real estate sales contract and deed tax certificate, should be provided if there is not a lot of money, it can be remitted overseas in the name of an indivial. The amount of an indivial is equivalent to US $50000 per year. The indivial can go to the bank directly with his ID card without submitting a certificate
State Foreign Exchange Administration of the people; S Republic of China / State Administration of foreign exchange (SAFE), China's functional agency for foreign exchange management, is a unit directly under the State Council and is under the centralized management of the people's Bank of China. Established in March 1979, the general administration is located in Beijing. The State Administration of foreign exchange is set up as a state bureau at the vice ministerial level, with seven functional departments and Party committees, namely, the Department of general affairs, the Department of balance of payments, the Department of current account management, the Department of capital account management, the Department of management and inspection, the Department of reserve management, and the Department of personnel (the Department of internal audit). There are four institutions, namely, the central foreign exchange business center, the information center, the government service center and the China foreign exchange magazine
extended data:
broaden the channel of capital flow in and out
steadily promote the convertibility of capital account and broaden the channel of capital flow in and out. We will relax restrictions on foreign exchange management of overseas investment, extend the pilot reform of foreign exchange management of overseas investment to the whole country, increase the auditing authority of branch offices and the amount of foreign exchange purchased for overseas investment, improve the management measures for financing external guarantee, and vigorously implement the "going out" strategy< some foreign exchange insurance funds are allowed to invest in overseas securities markets, and indivials are allowed to transfer assets to other countries
we should implement the system of qualified foreign institutional investors, increase the amount of investment, introce international development institutions to issue RMB bonds in China, and promote the opening up of the securities market. Multinational companies are allowed to carry out foreign exchange fund operation within the group, and gather or transfer regional and global foreign exchange funds. Foreign exchange management policies on foreign capital M & A should be introced to regulate the cross-border M & A of domestic residents and the M & A of domestic enterprises by foreign investors. To standardize the behavior of domestic residents to carry out equity financing and return investment through overseas special purpose companies
floating exchange rate system:
actively cultivate and develop the foreign exchange market, and improve the managed floating exchange rate system. Before the exchange rate reform on July 21, 2005, we should actively develop the foreign exchange market: changing one-way foreign exchange trading to two-way trading, and actively try out the small currency "market maker" system; Expand the banking scope of forward settlement and sales of foreign exchange, and approve China foreign exchange trading center to conct foreign currency to foreign currency trading. On July 21, we will reform the RMB exchange rate formation mechanism and implement a managed floating exchange rate system based on market supply and demand and with reference to a basket of currencies
in line with the reform, under the unified leadership and deployment of the people's Bank of China, the foreign exchange management department timely issued a series of policies to promote the development of the foreign exchange market, including: increasing trading subjects, allowing qualified non-financial enterprises and non bank financial institutions to enter the spot interbank foreign exchange market; Introce the system of US dollar "market maker" and the mechanism of inquiry trading in the inter-bank market; Expand the forward foreign exchange settlement and sales business of banks to customers to all banks, and introce RMB to foreign currency swap business; We will increase the variety of transactions in the inter-bank market and launch forward and swap foreign exchange transactions; We should implement the management of the comprehensive position of foreign exchange settlement and sale, and increase the total limit of the banking system; We should adjust the bank's exchange rate management measures, expand the fluctuation of non US dollar currencies in the inter-bank market, remove the restrictions on the floating range of listed exchange rates of non US dollar currencies of customers, expand the price difference between us dollar spot exchange and cash, and allow more than one price per day