Revenue recognition of virtual currency

2. It depends on the advantages of virtual currency that people are willing to accept. Let's take bitcoin as an example:

What are the advantages of bitcoin
freedom of payment - you can pay and receive any amount of money anytime and anywhere. No bank holidays, no borders, no imposed restrictions. Bitcoin allows its users full control of their funds
very low fee - at present, there is no or very little fee for the processing of bitcoin payment. The user can include the service charge in the transaction to obtain the processing priority and receive the transaction confirmation from the network faster. In addition, there are also merchant processors to assist merchants in processing transactions, converting bitcoin into legal tender every day and depositing the funds directly into the merchant's bank account. Because these services are all based on bitcoin, they can offer much lower fees than paypal or credit card networks
rece business risk - bitcoin transactions are secure, irreversible, and do not contain customers' sensitive or personal information. This avoids the loss of merchants e to fraud or fraulent chargeback, and there is no need to comply with PCI standards. Where credit cards are not available or where fraud rates are unacceptably high, businesses can easily expand into new markets. The end result is lower costs, larger markets, and less administrative costs
Security and control - bitcoin users have complete control over their own transactions; It is impossible for businesses to impose fees that may occur in other payment methods that should not be or are not easy to find. Payment with bitcoin can avoid binding personal information in the transaction, which provides great protection against identity theft. Users of bitcoin can also protect their funds through backup and encryption
transparent and neutral - all information about the bitcoin funding itself is stored in the block chain and can be verified and used by anyone in real time. No indivial or organization can control or manipulate the bitcoin protocol because it is password protected. This makes the bitcoin core believed to be completely neutral, transparent and predictable
in addition to bitcoin, the more popular virtual currencies are Wright coin, Fuyuan coin, Ruibo coin, dog coin, etc.

3. 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

4. It may be true, and there may be the following situations:

1. In 2013, when bitcoin was hot, bitcoin prices were one price a day, basically rising but not falling, and there were many people who made hundreds of thousands a day, but now it is basically difficult
2. The virtual currency operator, holding a large number of chips in his hand, makes money from his business
3. Invest a lot of money in high-frequency trading to make a small price difference
4. It may be a MLM coin, which is a typical Ponzi scheme. Early entrants may make money.

5. D

6. At this stage, virtual currency has not been officially counted as legal income

7. First of all, define what is money. Money is a kind of value and right. Money can be exchanged for other things in the market by virtue of the money it owns. Money is recognized because of the guarantee of national compulsion. However, if a thing is accepted by all as the medium of exchange within a certain range, then it can be recognized as money within this limited range. I always think that money is a kind of money The biggest possibility of Alipay is to establish its own sphere of influence, exclude the use of RMB in this sphere of influence, and build its own monetary system
secondly, confirm your question, you mean whether you can convert the game currency back to RMB, because if it exists in the form of RMB, it is called withdrawal, and it is impossible to withdraw if it is a virtual currency
back to your question, the reason why the app can't withdraw cash is that if the virtual currency inside can be reversed into RMB, it will impact the real monetary system, which is risky
I remember many online games in which the game currency purchased by RMB is used for gambling, For example, if the game currency (happy beans) can be reverse converted into RMB, what's the difference between this and changing chips in casinos, so in my impression, one of the keys for law enforcement agencies to determine whether it is gambling is whether the game currency can be reverse converted into RMB
hope to adopt, thank you!

8. In short, there are three ways:

9. In fact, you can choose any exchange rate. If you don't want to have exchange gains and losses, you can do the settlement and collection of foreign exchange together. You can do the income as much as you have settled RMB. But if this is not easy to achieve, any exchange rate can be used. I usually use the exchange rate of the first day of the month, and the difference can be transferred into the exchange gain and loss. See more answers & gt& gt;

10. [question] what is the non monetary income in the enterprise income tax law? How to recognize revenue Answer] according to Article 12 of the regulations on the implementation of the enterprise income tax law of the people's Republic of China, "the non monetary forms of income obtained by an enterprise as mentioned in Article 6 of the enterprise income tax law include fixed assets, biological assets, intangible assets, equity investment, inventory, bond investment not allowed to be held to maturity, labor services and relevant rights and interests." Article 13 stipulates: "the amount of income obtained by an enterprise in non monetary form as mentioned in Article 6 of the enterprise income tax law shall be determined according to its fair value. The fair value mentioned in the preceding paragraph refers to the value determined according to the market price.