What is Pi Currency? Is buying and selling Pi subject to personal income trực tiếp bóng đá việt nam hôm nay in Vietnam?
What is Pi Currency? How does Pi Network work?
*What is Pi Currency?
Pi Currency is the official cryptocurrency unit within the Pi Network ecosystem. Users can mine, trade, and use Pi within applications of this network.
Pi Network is a blockchain system and mobile application that allows users to mine Pi using their phones. It is developed to build a decentralized financial ecosystem. Unlike traditional cryptocurrencies that require strong hardware for mining, Pi Network enables users to earn PI through a mobile app without consuming significant device resources.
*How Pi Network Operates:
Pi Network operates based on the Stellar Consensus Protocol (SCP) rather than the Proof-of-Work (PoW) mechanism like Bitcoin. This helps the network function more efficiently without consuming excessive energy.
The Pi Network system has four main roles within the network:
(1) Pioneer
This is the main group of users who participate in mining Pi by logging into the app and pressing the “mine” button daily.
This process does not require devices to be continuously operated as in traditional coin mining systems.
(2) Contributor
After using the application for some time, users can build a Security Circle to verify the identities of other participants.
(3) Ambassador
Ambassadors invite new members to join Pi Network via referral codes, helping to expand the community.
(4) Node
These users run the Pi Node software on computers to help maintain and validate transactions within the Pi blockchain system.
Note: Information "What is Pi Currency? How does Pi Network work?" is for reference only.
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What is Pi Currency? Is buying and selling Pi subject to personal income trực tiếp bóng đá việt nam hôm nay in Vietnam? (Image from the Internet)
Is buying and selling Pi subject to personal income trực tiếp bóng đá việt nam hôm nay in Vietnam?
Currently, legislation does not have regulations governing cryptocurrencies and virtual assets.
However, the following regulations can be referenced to determine whether buying and selling Pi requires personal income trực tiếp bóng đá việt nam hôm nay payment:
Based on Clause 1 Article 3 of theLaw on Personal Income trực tiếp bóng đá việt nam hôm nay 2007, amended by Clause 1 Article 2 of theLaw Amending and Supplementing a Number of Articles of the trực tiếp bóng đá việt nam hôm nay Laws 2014, it is provided as follows:
Taxable Income
Taxable personal income includes the following types of income, excluding trực tiếp bóng đá việt nam hôm nay-exempt income as stipulated in Article 4 of this Law:
- Income from business, including:
a) Income from production and business activities in goods and services;
b) Income from independent professional activities of individuals licensed or certified in accordance with law.
Business income defined under this clause does not include individuals with a turnover of 100 million VND/year or less.
...
Additionally, according toCông trực tiếp bóng đá euro hôm nay 5747/NHNN-PCfrom the State Bank of Vietnam, it is guided as follows:
Based on the above regulations,cryptocurrencies in general, and Bitcoin, Litecoin in particular, are not recognized as currencies and are not a legitimate means of payment under Vietnamese law. Issuing, providing, and using cryptocurrencies (as non-legitimate means of payment) as currencies or means of payment is prohibited. Sanctions for this behavior have been provided in Decree 96/2014/ND-CP of the Government of Vietnam on administrative sanctions in the field of monetary and banking activities and the Criminal Code 2015 (revised and supplemented). Moreover, the State Bank of Vietnam has repeatedly warned against the high risks involved in investing in cryptocurrencies.
Simultaneously, based on Clause 6 Article 26 ofDecree 88/2019/ND-CP, amended by point d Clause 15 Article 1 ofDecree 143/2021/ND-CP, regarding violations of payment activities:
Violation of payment activities
...
6. Fines ranging from 50,000,000 VND to 100,000,000 VND for the following violations:
...
d) Issuing, providing, and using non-legitimate payment means without reaching the level of criminal prosecution;
...
Furthermore, according toBản án về khiếu kiện quyết định truy thu thuế, the People's Court of Ben Tre province made the following evaluation:
Decision No. 714/QD-CCT dated May 12, 2016, by the Head of the T Bureau, based on Official Dispatch No. 4356/BTC-TCT dated April 1, 2016, of the Ministry of Finance states: “... the activity of buying and selling digital currency is categorized as the trade of goods and is classified as commercial business activity; digital currency is subject to value-added trực tiếp bóng đá việt nam hôm nay, and individuals conducting such business activities are subject to personal income trực tiếp bóng đá việt nam hôm nay…” exceeds the issuance authority as prescribed by the Law on Promulgation of Legal Documents, meaning that Official Dispatch No. 4356/BTC-TCT dated April 1, 2016, from the Ministry of Finance, provides guidance that surpasses the codes or laws, Decrees, and Decisions of the Prime Minister,implicitly recognizing digital currency (virtual currency) as a commodity that should be traded and categorized as commercial business operation subject to trực tiếp bóng đá việt nam hôm nay is incorrect, infringing on the lawful rights and interests of Mr. C, and also affecting the effectiveness of monetary policy management by the State Bank of Vietnam, facilitating illegal money transfer, payments, and financing illegal transactions.
Thus, it can be understood that Pi Network is neither currency nor a legitimate means of payment as per Vietnamese law and is also not considered a commodity for trading, hence income from Pi Network activities is not subject to personal income trực tiếp bóng đá việt nam hôm nay.
Moreover, if trading Pi Network as a payment means without reaching the criminal accountability threshold, individuals may be fined between 50,000,000 VND and 100,000,000 VND (Clause 6 Article 26 ofDecree 88/2019/ND-CPamended by point d Clause 15 Article 1Decree 143/2021/ND-CP).
How to determine personal income trực tiếp bóng đá việt nam hôm nay period in Vietnam?
Based on Article 7 of theLaw on Personal Income trực tiếp bóng đá việt nam hôm nay 2007as amended by Clause 3 Article 1 of theLaw Amending the Personal Income trực tiếp bóng đá việt nam hôm nay Law 2012, it is prescribed as follows:
(1)The trực tiếp bóng đá việt nam hôm nay period for resident individuals is defined as follows:
- The trực tiếp bóng đá việt nam hôm nay period by year applies to income from business; income from wages or salaries;
- The trực tiếp bóng đá việt nam hôm nay period per income occurrence applies to income from capital investment; income from capital transfer, except for income from the transfer of securities; income from real estate transfer; income from winnings; income from copyrights; income from franchising; income from inheritance; and gift income;
- The trực tiếp bóng đá việt nam hôm nay period for the transfer of securities applies per transaction or annually.
(2)The trực tiếp bóng đá việt nam hôm nay period for non-resident individuals is calculated per income occurrence for all taxable income.
