Virtual currency taxation in Japan

1.

Japan is also the first country in the world to legislate on virtual currency. Just in April last year, Japan's "change of capital payment law" was formally established. Virtual currency is defined as having the function of currency and can be used for monetary payment. Moreover, some time ago, the tycoons of the domestic currency circle also went to Japan one after another to learn from Japan

Finally, the popularity of virtual currency in Japan is also the intentional guidance of the Japanese government. The emergence of virtual currency gives the Japanese government a new "future". The Japanese government hopes to establish a monetary system independent of the U.S. regulation through virtual currency, so as to revive its so-called great power status

however, we should also see that Japan's too loose virtual monetary environment has also led to many negative problems. For example, the frequent theft of virtual currency makes the Japanese government have to intervene in the asset security of the virtual currency market. As a result, Japan has strengthened the supervision of virtual currency, and the virtual currency market has become a bit quiet - exchanges such as hotcoin and BIGone have even given up Japanese language services

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.

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. There are mines in many caves. Sometimes the bare stones on the mountain, as long as they have luster and spots, are also mines, and most of them are in the caves. Can network ancient scroll 5 cave at a glance, there are pictures
there is a pickaxe in the bag. Press e to the ore, or press the left button to the ore with a pickaxe in hand to get daylight twice
when enchanting and dismantling enchanted weapons / equipment, the enchantment level will also increase. The leather belt made of excavated iron ore and the monster's fallen skin will be used to make daggers, and then the enchantment will sell for money. The most valuable thing is to dispel affixes.

5. There are risks in investment. Invest cautiously. Dotcoin is a kind of P2P digital currency. The biggest difference between dotcoin and other currencies is that there is a relatively large amount of money in the world and the prospect is considerable< Decentralization: dotcoin is the first distributed virtual currency, and the whole network is composed of users without a central bank. Decentralization is the guarantee of security and freedom of dotcoin
2. Global circulation: dotcoin can be managed on any computer connected to the Internet. No matter where you are, anyone can excavate, buy or sell dotcoin
3. Global synchronization: since the first day of its birth, dotcoin has been publicized many times around the world, and there is no pre digging behavior of a company or its founder. In particular, publicity through different channels around the world avoids the possibility that dote is just a pet of a few geeks or is hoarded by a few people in the early stage
4. Exclusive ownership: the private key is required to manipulate the dotcoin, which can be stored in any storage medium in isolation. No one can get it except the user himself
5. No transaction costs and hidden costs: the exchange of multi currency is almost zero cost, especially in multinational trade, which can save a lot of costs. As a means of payment from a to B, dotcoin has no cumbersome limit and proceres. If you know the other party's multi currency address, you can pay.

6. Im7w from Shiyan accounting website | problem details & gt& gt; August 19, 2013 [question] how do Internet companies make profits through the Internet? For example, if I customize his virtual business, I need to spend my RMB to buy his virtual money, and then pay it to him. Is this a business? Do you need to pay tax [answer] according to the current business tax policy, it is within the scope of business tax to provide services and obtain business income by collecting virtual coins from customers on the Internet, and business tax should be levied according to regulations. I'll answer anonymity

7. I deeply regret that I came out to work; A year of youth is wasted< It's hard to live a part-time job; Get up early and go to bed late, sleepy and tired
as soon as the alarm goes off, turn off the heat quilt; Stretch, still want to sleep
forced by helplessness, wash quickly; In a hurry, we must sort out the necessary things
steamed bread for breakfast makes people nauseous; Less than noon, gastrointestinal meeting
I have a deep understanding of this kind of life; Rest time, aftertaste
if you want to make a phone call, it's too expensive; Working hours, dare not foul
wild geese are flying and tired of love; Where is the end of the world, exquisite jade
the lover in the dream has no chance to meet; Look up to the sky and sigh, want to cry without tears<
I'm too stupid, not bad at the society... I have no money to buy toothpaste and add grass to the vegetables,
they all say that the environment here is good, cockroaches and ants are running around,
they all say that the foreman here is handsome, with flat heads like pot lids,
every year I work hard, every day I work overtime like a monkey,
there's no reward for working overtime, and there's no reason for being scolded every day,
when I meet the boss, I bow my head, Paid and shook his head< Working life is really bad, grass can be eaten from vegetables,
flies are bathing in the soup, ants are racing on the table,
mosquitoes are biting under the table, and the salary is very low
this article is dedicated to all the villagers, brothers and sisters who are away from home
I hope you can make a lot of money in the future. Family harmony, work smoothly!!!

8. If you collect taxes through the customs, you will be charged 10% ~
taxes: 1200 * 10% = 120RMB
if you have time, you can go for a tour [Huzhu square] and have a look. They are all Chinese in Japan. I hope they can help you!

9. Hello, according to the regulations of the customs, if the amount of import tax is more than 50 yuan, the customs will release it; Personal belongings sent from or to places other than Hong Kong, Macao and Taiwan shall be limited to 1000 yuan each time. If the value exceeds the specified limit, the return proceres shall be handled or the customs clearance proceres shall be handled in accordance with the provisions of the goods; However, if there is only one article in the parcel and it is indivisible, even though it exceeds the prescribed limit, and it is for personal use after examination and verification by the customs, the customs clearance proceres may be handled in accordance with the provisions on personal articles. Import tax = ty paid price * tax rate. According to the actual inspection status of the goods, the customs shall examine and approve the ty paid price and determine the classification and applicable tax rate in accordance with the "classification table of import ty on luggage and personal postal articles of inbound passengers" and "ty paid price table of luggage and personal postal articles of inbound passengers"
the customs shall levy taxes according to the specific value of the goods. If it is necessary to levy taxes, the tax rate shall be 10%, and the tax shall be calculated by yourself

10. Can you remit money directly from the bank? The service charge is only a few thousand yen. It's safe!