Can wages be paid in virtual currency
special reminder: according to the "measures for economic compensation for violation and termination of labor contract" promulgated by the Ministry of labor in 1994, if the employer fails to pay the wages of the laborer without any reason, the employer shall pay the laborer the wages they deserve and an additional economic compensation equivalent to 25% of the wages.
Wage refers to the labor remuneration paid directly by the employing unit to its employees in the form of currency in accordance with the relevant provisions of the state or the labor contract. It generally includes time wage, piece rate wage, bonus, allowance and subsidy, wage remuneration for extending working hours and wages paid under special circumstances. Wages can only be paid in the form of money and can not be replaced by anything. Because the employees pay their labor in expectation of monetary reward, if they use the material object instead of money, it means to let the employees sell their procts by themselves, which is tantamount to transferring the risk of operation to the employees, which is obviously unreasonable
in addition, there are few enterprises paying wages in cash, except for small companies with few employees, because paying wages in cash is easy to make mistakes and the workload increases a lot
if you don't want to pay personal income tax, you can use part of it in Bank (public account) and part in cash (private account)
You can pay in cash, but you still have to keep accounts and pay personal income tax
According to the relevant regulations of the state, cash can be used in the following areas:1. Personal wages and various wage subsidies for employees
2. Personal labor remuneration
3. Various pensions, student scholarships and funeral subsidies
4. Travel expenses that must be carried by business travelers
5. Scientific and cultural services awarded to indivials according to the national regulations Technology, culture, ecation, health, sports and other bonuses
6, all kinds of labor insurance, welfare costs and other expenditures of the state on indivials
7, sporadic expenditures below the starting point of settlement, the current starting point of settlement is 1000 yuan
8, the people's Bank of China determines other expenditures that need to be paid in cash
Personal income tax is the general term of legal norms to adjust the social relations between tax authorities and natural persons (residents and non residents) in the process of personal income tax collection and managementBritain was the first country to levy indivial income tax. In 1799, Britain began to levy indivial income tax at different rates, and it became a fixed tax in 1874
The taxpayers of indivial income tax include both resident taxpayers and non resident taxpayers. Resident taxpayers have the obligation to pay full tax and must pay indivial income tax on all their income from inside and outside China; However, non resident taxpayers only pay indivial income tax on their income originating in China Indivial income tax is a kind of income tax levied by the state on the income of its citizens, indivials living in its own country and overseas indivials from its own country. In some countries, personal income tax is the main tax, which accounts for a large proportion of fiscal revenue and has a great impact on the economy On June 19, 2018, the draft amendment to the indivial income tax law was submitted to the third meeting of the Standing Committee of the 13th National People's Congress for deliberation, which is the seventh overhaul of the tax law since its introction in 1980