- 2022 Central Bank Order No. 1, Strictly Control Personal Cash Transactions
At the beginning of 2022, in order to further improve the anti-money laundering regulatory system and improve the level of anti-money laundering work, the People's Bank of China, the China Banking Regulatory Commission and the China Securities Regulatory Commission issued Order No. " (hereinafter referred to as the "Measures"), the "Measures" will come into force on March 1, 2022.
Article 10 of the "Measures" mentions: "Commercial banks, rural cooperative banks, rural credit cooperatives, village banks and other financial institutions handle cash deposits and withdrawals of RMB 50,000 or more or foreign currency equivalent to more than 10,000 US dollars for natural person customers. , should identify and verify the identity of the client, understand and register the source or purpose of the funds.”
The "Measures" are issued to improve the anti-money laundering supervision mechanism. For customers with the highest risk of money laundering or terrorist financing, financial institutions should conduct audits at least once a year; they should also take measures to strengthen due diligence, such as on-site visits to understand the economic situation of customers.
- Financial institutions supervise individual transactions on a large scale
From 2022 onwards, tax avoidance by private households will really not work, except for the central bank to issue a document to supervise transactions exceeding 50,000 in cash, requiring the source to be registered on a case-by-case basis. Golden Tax Phase IV also fully involved in "non-tax" business.
According to the announcement of the Guangdong Branch of the State Administration of Taxation on June 23, 2021, Guangzhou Nansong Communication System Engineering Co., Ltd. was investigated for tax evasion by using personal accounts to collect money, and it was required to pay back taxes and late fees, as well as fines.
From 2016 to 2020, the company had the following illegal acts, collected payments through personal accounts, and failed to declare taxes:
1. From 2017 to January 2020, a management fee of RMB 1,824,000.00 was collected through personal accounts.
2. From 2016 to 2017, 159,600.00 yuan was collected for the project through personal account.
3.In November 2017, 500,000.00 yuan of security monitoring project income was collected through cash from the legal representative.
The taxation department's penalty decision on the company:
A total of 202,206.47 yuan in taxes and fees were collected from the company.
From the date of late payment of the tax to the date of actual payment, a late payment fee of five ten thousandths shall be imposed on a daily basis.
Penalties for underpayment of taxes by 50%.
- Difficult to use large amounts of cash to hide income
Many companies will use "cash" to hide the trajectory of funds.
Cash transaction is often using to hide the operating income of a company. In order to hide the income, company will require the payers to make payment in the form of "private transfer" or "cash transaction". Because these incomes are not reflected on the company's corporate account, the company can avoid VAT, stamp duty and corporate income tax.
However, in the context of big data regulation, the exchange of private accounts of senior managers and the flow of large amount of cash of enterprises will be strictly regulated. Instead of making money secretly and not being practical, it is better to make a careful calculation before deciding whether some business is worth doing.
- The following 10 behaviors can be defined as suspicious transactions
1. The company’s reported operating income to the tax bureau is very small, but the bank’s turnover is very large;
2. The transfer of funds between the company and executives is abnormal, such as transfer in batches and transfer out in batches, or transfer in batches and transfer out in batches
3. An account that has been idle for a long time is suddenly activated and has a large amount of fund activity;
4. The frequency and amount of fund receipts and payments are obviously inconsistent with the scale of business operations;
5.Public accounts frequently and large amounts of money transfer to individuals in the short term, or public accounts often receive personal remittances that have nothing to do with business in the short term.
6. Frequent receipts and payments of funds between the same payee and payer within a short period of time;
7. Accounts that have been idle for a long time are suddenly activated for unknown reasons, and a large amount of funds are received and paid in a short period of time;
8. The amount, frequency and purpose of cash withdrawals are obviously inconsistent with their normal cash receipts and payments;
9. Personal bank settlement accounts accumulate cash receipts and payments of more than 1 million yuan in a short period of time;
10. Frequent account opening and cancellation, and a large amount of fund receipts and payments occur before account cancellation;
