My company will bank idle funds to buy part of the short-term financial products, financial gains to pay taxes? What kind of tax should be paid. How to do the above accounting entries.

Source: Original Author: People's Bank of China Shenyang Branch? Zhao Runjing Clicks：258 Time：2010-3-11

As a small electronic payment tool, in recent years, stored value card in China's rapid development, different industries, different areas of application is becoming more and more widespread. It can be said that stored value card in stimulating consumption, stimulate domestic demand, reduce social transaction costs and so on has played a certain positive role.

But with the number of stored-value card issuance and scale of the expanding, especially non-financial institutions to issue stored-value card more and more cross-industry participation in the field of micro-payments, to a certain extent, take up the monetary function, which not only on the formulation of monetary policy to bring the impact of the card issuer due to mismanagement or closure and other payment risks, it is very likely that the cardholders to bring economic losses, thus giving the security of the payment system impact. security of the payment system. Therefore, as soon as possible to establish an effective regulatory system to standardize the issuance and operation of stored value cards, to promote the healthy development of stored value card electronic payment is imminent.

First, the application of stored-value cards and problems

1. Initially, stored-value cards were mainly single-purpose, with the card-issuing organization itself providing goods or services, such as telephone cards and campus cards. Single-purpose stored-value cards are limited to the internal use of the industry, and do not involve the clearing and exchange of external funds.

With the development of technology and market demand, multi-purpose stored-value card (generally with a chip IC card or with a built-in chip contactless smart card) gradually appeared and rapid development, penetrate into all aspects of people's social life, Inner Mongolia Postal Savings Bank. For example, the city bus card, not only applied to the bus system, but also widely used in bookstores, theaters, pharmacies, supermarkets and other micro-payment areas, and some of the surrounding cities across the region to achieve a joint common. The use of multi-purpose stored-value cards generally involves card issuers, merchants and consumers. The cardholder delivers a certain amount of money in advance and deposits it into the card, and pays for the goods or services provided by the card issuer or by a third party with the amount in the card. The general transaction process is: the cardholder card consumption to the merchant payment, the card amount transferred to the merchant's sales terminal, the merchant regularly with the card issuer to reconcile the accounts and the cardholder consumption amount from the card issuer to the merchant opened in the financial institutions account,qinghai postal savings bank. Because of the cross-industry use, multi-purpose stored-value card there is a third-party funds clearing problem.

2. Existing problems

(1) the legitimacy of the stored value card there is a question

China's existing laws, the People's Bank of China Law, Article 20 provides that "no unit or individual shall print and sell tokens and coupons to replace the RMB in circulation in the market". Article 29 of the Regulations on the Administration of the Renminbi stipulates that "no unit or individual shall print or sell tokens or coupons to circulate in the market in place of the renminbi." However, there is no strict definition of coupons. Since 1998, the State Council issued the "Emergency Circular on Resolutely Braking the Wind of Issuing and Using All Kinds of Token Shopping Vouchers", the token vouchers have been prohibited by three orders, and in 2001, the Office of the Corrective Action Office of the State Council, the Ministry of Finance, the People's Bank of China issued a document explicitly prohibiting banks from issuing token vouchers. Therefore, such as shopping malls and other non-financial institutions such as the issuance of stored value shopping card has attracted a lot of controversy, whether it belongs to the token coupons has not yet been determined. In recent years, all kinds of stored value cards in all regions of the country in various industries and the rapid development of widely used, but because of the legitimacy of the existence of the question, its existence and development is facing a more embarrassing situation.

(2) card issuance subject to a large number of financial regulatory gaps

At present, the stored value card issuance subject to public transportation, municipal, social security, payment, commodity retailing and other departments or industries. China's current laws and regulations only provide for the approval and supervision of commercial banks to issue bank card business, there is no provision for the issuance of cards and business supervision of non-banking institutions. In addition, multi-purpose stored value card cross-industry multi-discipline payment there is a third-party clearing problem, and there is no clear regulatory provisions on the settlement business of non-banking institutions. It can be said that stored value card issuers from the issuance of cards, acceptance of cardholders prepaid funds (with the nature of the absorption of public **** funds) to the clearing of funds are outside the financial supervision.

(3) the lack of supervision of the issuer's funds, latent credit risk

The issuance of stored-value cards based on credit, the economic strength of the issuer is to maintain the protection of credit. First of all, because the scale of the issuer's own funds is much smaller than the amount of public deposits and prepaid funds absorbed by the community, when the business is not well run or closed down, it is difficult to provide services and goods to the cardholder; Secondly, due to the lack of strict supervision of funds, if the issuer of a considerable scale of capital precipitation operation or management is not appropriate, but also will produce commercial credit risk, resulting in a payment crisis, to the cardholder to bring economic losses.

(4) Lack of industrialized standards, waste of social resources

Stored-value card issuers are different, often using different technical standards. Merchants' card-reading equipment and processing systems have to identify and accept stored value card technical standards from different issuers, and the equipment and systems are likely to face updating or remodeling, and this increase in operating costs is bound to result in a certain waste of resources.

(5) the scope of payment expansion, bank card market share decreased

stored value card from a certain social demand, consumers, merchants, especially for the card issuer obviously has obvious attraction. Stored-value cards are increasingly being used in public transportation, healthcare, food and entertainment, and other small payments, reducing the original share of the bank card market to a certain extent. Bank cards, as "credit payment tools issued by commercial banks to the society with all or part of the functions of consumer credit, transfer and settlement, and cash deposit and withdrawal" (quoted from "Measures for the Administration of Bank Card Business" issued by the People's Bank of China) are more mature and standardized than stored-value cards issued by non-banking institutions in terms of fund management, regulatory rules, industry standards, and security. The stored value card is more mature and standardized, although the stored value card in the function is obviously different from the bank card, but if the stored value card consumption amount and payment range and other elements of the lack of restrictions on the development of the more mature bank card market is extremely unfavorable.

Second, the regulatory strategy

Single-purpose stored-value card use is limited to the industry within, only involves the card issuer and the cardholder, does not involve the external funds clearing and exchanges, the impact on the financial system is limited. Therefore, the single-purpose stored-value card should be from the perspective of convenient management, improve efficiency to encourage the development of the relevant industry management department directly responsible for supervision, including card issuance approval, registration, regular inspection, etc., may not be included in the scope of financial supervision. However, from the perspective of monetary management and the development of monetary policy need to grasp the scale of its issuance of cash flow impact, therefore, should be issued by the issuer of stored-value card business supervision and management department to report the number of cards issued, the size of the funds and the application of the situation.

Multi-purpose stored value card should be in the complete financial regulatory framework, the implementation of strict standardized operation and management.

1. Establish regulations and clear supervision

Improve and introduce appropriate laws and regulations to clearly define "tokens and vouchers", and clearly define the scope of issuance and use of stored value cards. As the central bank, the People's Bank of China (PBOC) is responsible for formulating monetary policy, maintaining financial stability, and supervising and managing the operation of the payment system; therefore, the PBOC's supervisory and management function of the issuance of stored-value cards by non-banking institutions should be clarified. At present, most countries and regions by the central bank to implement the supervision of stored value cards and their issuers.

2. Strengthen the supervision, standardize the operation

(1) the establishment of a strict system of access to the issue. Should be issued by the organization's capital scale, business status, credit status and other qualifications for strict examination, and requires the issuer to establish a strict internal control management system, with risk warning and risk control measures.

(2) Establish a strict capital management system. Firstly, it stipulates the minimum proportion of funds used by issuing organizations to provide services or commodities, and requires card-issuing organizations to pay a certain proportion of deposit to the supervisory authorities as a basic guarantee for the safety of the funds; secondly, it strictly restricts the issuing organizations to the use of deposits and pre-receipts, i.e., the use of deposited funds, and it strictly stipulates the proportion of liquidity and the scope of fund operation to prevent the payment of inappropriate operation of the funds and the operational risks. The company is also a member of the Board of Directors of the National Association for the Prevention of Poverty.

(3) Limit the amount of the card. Strictly limited to the maximum amount of the card, the maximum amount of consumption, the use of elements such as the scope of Jiangsu Industrial Bank, so that non-banking institutions issued by the stored-value card in the function of both different from the banking institutions issued by the bank card, but also to play its transaction fast, low cost, in the bank card can not cover the consumption of outlets easier to popularize the characteristics of the micro-payment field to play an advantage with the bank card to complement each other,hollister france, *** with the development.

(4) Establish a strict daily supervision system. Issuing institutions should regularly provide regulators with information such as balance sheets, number of cards issued, size of funds, use of deposited funds, annual transaction volume, information disclosure, etc., and be ready to accept inspections by regulators.

3. Develop unified standards

Gradually develop unified technical standards and business standards, so that the design of multi-purpose stored value card with sufficient anti-counterfeiting technology, and due to the use of *** the same standards to achieve the multi-purpose stored value card issued by different issuers in the card-reading equipment and service terminals on the common, on the one hand, to reduce the operating costs, reduce the waste of resources, and on the other hand, to make the joint cross-regional common use is easier to realize.