How to tax virtual currency
Publish: 2021-04-01 18:08:23
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. 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.
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.
4. If cash withdrawal is reflected, taxes and fees are required, which are all available.
5. 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.
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.
6. The State Administration of Taxation announced on the 28th the "reply on the issue of personal income tax on the income of indivials from buying and selling virtual currencies through the Internet", which means that domestic indivials must pay personal income tax on the income they get from selling virtual currencies to others after they purchase virtual currencies through the Internet
in response to the Beijing Local Taxation Bureau's request for instructions on the issue of indivial income tax on the income derived from the sale of virtual currency through the Internet, the State Administration of Taxation has made the above reply, clearly stipulating that the income derived from the purchase of virtual currency through the Internet and the sale to others after the 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"
at the same time, the State Administration of Taxation emphasizes that the original value of the property of an indivial 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
according to the relevant sources of Beijing Local Taxation Bureau, the tax rate of indivial income tax calculated according to the project of "income from property transfer" is fixed at 20%. Beijing Local Taxation Bureau will also introce relevant measures to verify the original value of virtual currency property sold by indivials, but there is no timetable for the implementation of the policy at present.
in response to the Beijing Local Taxation Bureau's request for instructions on the issue of indivial income tax on the income derived from the sale of virtual currency through the Internet, the State Administration of Taxation has made the above reply, clearly stipulating that the income derived from the purchase of virtual currency through the Internet and the sale to others after the 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"
at the same time, the State Administration of Taxation emphasizes that the original value of the property of an indivial 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
according to the relevant sources of Beijing Local Taxation Bureau, the tax rate of indivial income tax calculated according to the project of "income from property transfer" is fixed at 20%. Beijing Local Taxation Bureau will also introce relevant measures to verify the original value of virtual currency property sold by indivials, but there is no timetable for the implementation of the policy at present.
7. 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.
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.
8. 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
9. A few days ago, the State Administration of Taxation announced an official reply on the issue of personal income tax levied on indivials' income from buying and selling virtual currency through the Internet: the income obtained by indivials from purchasing virtual currency of players through the Internet and selling it after price increase belongs to the taxable income of personal income tax, which should be calculated according to the item of "income from property transfer", and pay 20% personal income tax. This shows that in the future, domestic indivials will have to pay personal income tax when they buy players' virtual currency through the Internet and sell the income to others after price increase
online "virtual property", also known as "online property", generally refers to the accounts of Internet users and game players in online games and the accumulated "money", "equipment", "pets" and other "property"
there is a popular view in economics that "where there is land, there is economy". Now, in the network virtual space, not only the software itself, the right to participate in online games, along with the virtual weapons, equipment inside the game, and even the "plug-in" used for cheating, have become commodities that can be circulated, with the emergence of sellers and buyers and the breeding of profits. But these fictitious "net money" calculate private property? Is the right of network "virtual property" protected by law? It used to be a realistic subject faced by law
previously, several cases of theft and infringement of "virtual property" on the Internet were tried by domestic courts, and the judgments made found that the virtual property on the Internet has value content, which really cheered many people online and offline, because the virtual property was finally determined by the court to have property value, which has a certain exemplary role. There are a lot of "net money" illegal infringement of the game players for the legal judgment results feel great comfort
in view of this, it is necessary to clarify the following issues when collecting personal income tax on virtual net property: on the one hand, does virtual currency belong to the private property of players“ The premise of "property transfer" is that the indivial has the ownership of the property. If the virtual network property is stolen or the game operator server has a problem and the system returns to zero, the player has the right to recover their private property. The game operator must pay for the loss of tens of thousands of yuan of wealth for the player, which is only a string of digital codes for them. Now the law has recognized the private right of virtual network property, which shows that players have the right to obtain "income from property transfer"; On the other hand, since the law has recognized the legitimacy of transactions between online game players, this instry chain has been recognized as legitimate. Therefore, the theft and fraud in online financial transactions should be included in the scope of legal protection
however, there is no clear conclusion on what is virtual currency, whether virtual currency itself impacts real currency, and whether it should be protected by legislation. At this time, the network virtual property tax, may bring controversy in the specific operation. For example, how to identify online game players trading virtual currency behavior? How to supervise and collect the income? These are all thorny details. At the same time, many players in online games are all netizens in private, and most of the transactions can be achieved through mutual verbal commitment. Therefore, in the case of the lack of written records, the tax authorities obviously lack of effective means of authentication and verification to collect personal tax on the sale of virtual currency
although indivial cases of loss and theft of virtual network property have been properly solved in accordance with the law, the state has not yet issued special laws and regulations to regulate the transaction of virtual network property. From the perspective of jurisprudence, under normal circumstances, we should take the lead in recognizing the legitimacy of the ownership of virtual network property, in order to tax the legitimate property transactions. But at present, in the absence of special laws and regulations, we can only refer to the relevant legal provisions. It is obviously too hasty to directly adopt the existing personal income tax rate of 20%. No matter whether the proportion of 20% is reasonable or not, the difference between virtual transaction and real transaction and the effective collection and management of virtual transaction after taxation are still worth improving
on the one hand, the tax base of virtual network finance is undoubtedly assets valued in real currency. Now virtual currency has been regarded as an intangible asset that can be measured by real currency. From this perspective, it is necessary to formulate a transaction standard between virtual network and real life to protect the intangible assets of Internet users, and on this basis, tax virtual goods exchanged by virtual currency; On the other hand, in view of the lack of legal support for the reliability of players' private transactions, it is necessary to clearly determine that the virtual network financial transactions are protected by law. If the players have the right to deal with the virtual network property freely, then in terms of the relevant network management, they should carry out effective supervision and maintenance in accordance with the provisions of the state
in a word, what we need to clarify at present is all kinds of disputes about virtual online finance, and then formulate and introce more practical supporting system measures. On this basis, we can levy personal income tax on the income obtained from online trading of virtual online finance, so as to get more understanding and support from all walks of life.
online "virtual property", also known as "online property", generally refers to the accounts of Internet users and game players in online games and the accumulated "money", "equipment", "pets" and other "property"
there is a popular view in economics that "where there is land, there is economy". Now, in the network virtual space, not only the software itself, the right to participate in online games, along with the virtual weapons, equipment inside the game, and even the "plug-in" used for cheating, have become commodities that can be circulated, with the emergence of sellers and buyers and the breeding of profits. But these fictitious "net money" calculate private property? Is the right of network "virtual property" protected by law? It used to be a realistic subject faced by law
previously, several cases of theft and infringement of "virtual property" on the Internet were tried by domestic courts, and the judgments made found that the virtual property on the Internet has value content, which really cheered many people online and offline, because the virtual property was finally determined by the court to have property value, which has a certain exemplary role. There are a lot of "net money" illegal infringement of the game players for the legal judgment results feel great comfort
in view of this, it is necessary to clarify the following issues when collecting personal income tax on virtual net property: on the one hand, does virtual currency belong to the private property of players“ The premise of "property transfer" is that the indivial has the ownership of the property. If the virtual network property is stolen or the game operator server has a problem and the system returns to zero, the player has the right to recover their private property. The game operator must pay for the loss of tens of thousands of yuan of wealth for the player, which is only a string of digital codes for them. Now the law has recognized the private right of virtual network property, which shows that players have the right to obtain "income from property transfer"; On the other hand, since the law has recognized the legitimacy of transactions between online game players, this instry chain has been recognized as legitimate. Therefore, the theft and fraud in online financial transactions should be included in the scope of legal protection
however, there is no clear conclusion on what is virtual currency, whether virtual currency itself impacts real currency, and whether it should be protected by legislation. At this time, the network virtual property tax, may bring controversy in the specific operation. For example, how to identify online game players trading virtual currency behavior? How to supervise and collect the income? These are all thorny details. At the same time, many players in online games are all netizens in private, and most of the transactions can be achieved through mutual verbal commitment. Therefore, in the case of the lack of written records, the tax authorities obviously lack of effective means of authentication and verification to collect personal tax on the sale of virtual currency
although indivial cases of loss and theft of virtual network property have been properly solved in accordance with the law, the state has not yet issued special laws and regulations to regulate the transaction of virtual network property. From the perspective of jurisprudence, under normal circumstances, we should take the lead in recognizing the legitimacy of the ownership of virtual network property, in order to tax the legitimate property transactions. But at present, in the absence of special laws and regulations, we can only refer to the relevant legal provisions. It is obviously too hasty to directly adopt the existing personal income tax rate of 20%. No matter whether the proportion of 20% is reasonable or not, the difference between virtual transaction and real transaction and the effective collection and management of virtual transaction after taxation are still worth improving
on the one hand, the tax base of virtual network finance is undoubtedly assets valued in real currency. Now virtual currency has been regarded as an intangible asset that can be measured by real currency. From this perspective, it is necessary to formulate a transaction standard between virtual network and real life to protect the intangible assets of Internet users, and on this basis, tax virtual goods exchanged by virtual currency; On the other hand, in view of the lack of legal support for the reliability of players' private transactions, it is necessary to clearly determine that the virtual network financial transactions are protected by law. If the players have the right to deal with the virtual network property freely, then in terms of the relevant network management, they should carry out effective supervision and maintenance in accordance with the provisions of the state
in a word, what we need to clarify at present is all kinds of disputes about virtual online finance, and then formulate and introce more practical supporting system measures. On this basis, we can levy personal income tax on the income obtained from online trading of virtual online finance, so as to get more understanding and support from all walks of life.
10. 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
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
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