Futures and spot are completely different. Spot is actually a tradable commodity. Futures are mainly not commodities, but standardized tradable contracts based on some popular products such as cotton, soybeans and oil and financial assets such as stocks and bonds. Therefore, the subject matter can be commodities (such as gold, crude oil and agricultural products) or financial instruments.
Contents of individual income tax:
Income from wages and salaries refers to wages, salaries, bonuses, year-end salary increase, labor dividends, allowances, subsidies and other income related to employment. That is to say, as long as the income obtained by an individual is related to his position and employment, regardless of the capital expenditure channel of his unit or in the form of cash, physical objects and securities. , are the tax targets of wages and salaries.
The income from the production and operation of individual industrial and commercial households includes four aspects:
1. Income from the production and operation of individual industrial and commercial households in urban and rural areas who have been approved by the administrative department for industry and commerce and obtained a business license and engaged in industries such as industry, handicrafts, construction, transportation, commerce, catering, service and repair.
2 individuals approved by the relevant government departments, obtain business licenses, and engage in paid service activities such as running schools, medical care and consulting.
3 other individuals engaged in individual industrial and commercial production and operation income, including personal temporary production and operation activities.
4. Taxable income related to production and operation obtained by the above-mentioned individual industrial and commercial households and individuals.
The main characteristics of futures:
1. The terms and conditions of a futures contract, such as commodity variety, trading unit, contract month, margin, quantity, quality, grade, delivery time and delivery place, are established and standardized, and the only variable is price. The standards of futures contracts are usually designed by futures exchanges and listed by national regulatory agencies.
2. The futures contract is concluded under the organization of the futures exchange and has legal effect, and the price is generated by public bidding in the trading hall of the exchange; Most foreign countries adopt public bidding, while our country adopts computer trading.
3. The performance of futures contracts is guaranteed by the exchange, and private transactions are not allowed.
4. Futures contracts can fulfill or terminate their contractual obligations through the settlement of spot or hedging transactions.
legal ground
Individual Income Tax Law of the People's Republic of China
Article 2: Individual income tax shall be paid on the following personal income:
(1) Income from wages and salaries;
(2) Income from remuneration for labor services;
(3) Income from remuneration;
(4) Income from royalties;
(5) Operating income;
(6) Income from interest, dividends and bonuses;
(7) Income from property lease;
(8) Income from property transfer;
(9) Accidental income.
Individual residents who obtain income from items 1 to 4 of the preceding paragraph (hereinafter referred to as comprehensive income) shall calculate individual income tax according to the tax year; Non-resident individuals who obtain income from items 1 to 4 of the preceding paragraph shall calculate individual income tax on a monthly or itemized basis. Taxpayers who obtain income from items 5 to 9 of the preceding paragraph shall calculate individual income tax separately in accordance with the provisions of this law.