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Chapter 362 Why do corrupt officials like to hoard cash?

After viewing the house with the real estate agent, Liu Yuan set out on the journey back to his rental house in the suburbs with a happy mood.

At this moment, he suddenly received a call from a staff member of Nanhang Collectibles Auction House.

The other party informed Liu Yuan in an excited tone, asking him to go to the auction house as soon as possible to complete the relevant procedures and collect the auction money of the Xuande furnace.

Liu Yuan asked anxiously, "How much did this Xuande furnace sell for?"

The staff member replied: "A full 880 million yuan! Congratulations, sir."

Hearing this number, Liu Yuan was so excited that he was almost speechless.

He immediately decided to change his itinerary, turned the car around, and rushed towards the collectibles market auction house impatiently.

After arriving at the destination, Liu Yuan met with the staff of the auction house.

They explained in detail the circumstances of the auction and the subsequent process.

According to the provisions of the Auction Law of the People's Republic of China, the principal and the buyer may agree with the auctioneer on the proportion of commission to be collected.

If no agreement is made on the commission ratio, then if the auction is successful, the auctioneer may charge the principal and the buyer a commission of no more than 5% of the auction price each.

If the auction fails to close, the auctioneer may charge the client the agreed fees. If no agreement is reached, the auctioneer may charge the client the reasonable expenses incurred for the auction.

Liu Yuan had already studied the relevant legal provisions and agreed with the auction house on a 1% auction commission. If there was no prior agreement, his auction commission would be 5% of the transaction price, which means that he would need to pay the auction house 44 yuan.

With this transaction alone, Liu Yuan saved 35.2 yuan!

This is not a small amount of money. It can almost buy a small second-hand house of about 60 square meters.

You know, in the city of Nanhang, housing prices are high, and it is really not easy to save so much money.

And what about the 8.8 yuan? For Liu Yuan, although this is not a small amount, it is insignificant compared to the transaction price of the Xuande furnace.

After all, the value of the Xuande furnace far exceeds the money. Moreover, this transaction made him realize that he still has a lot to learn and improve.

However, more importantly, Liu Yuan also needs to face the issue of taxation.

According to the provisions of the "Individual Income Tax Law of the People's Republic of my country", the income obtained by individuals from auctioning antiques is regarded as "property transfer income" and the applicable tax rate is 20%.

After calculation, the amount of tax Liu Yuan should pay is as high as 176 million yuan.

Although the amount of tax is not small, it is still something to be thankful for for Liu Yuan who has obtained such a huge profit.

After all, he now has enough money to realize his dream - buying the villa he has always dreamed of.

Liu Yuan quickly handled the relevant tax and commission procedures, and soon received a message on his mobile phone indicating that 695.2 million yuan had been transferred to his bank card.

Liu Yuan knew that according to the People's Bank of China's anti-money laundering regulations: if a personal bank account deposits or withdraws more than 5 yuan in cash on the same day, it will be reported to the National Anti-Money Laundering Center. If a personal bank account transfers more than 20 yuan on the same day, it will also be reported to the National Anti-Money Laundering Center.

In the era of big data, every bank account is under the monitoring of the anti-money laundering system at all times.

As long as there are abnormal transactions in your bank account, the anti-money laundering system will immediately issue an early warning analysis.

The mildest case is that the bank customer service will call you to inquire about the purpose of the transfer. The most serious case is that your bank account will be directly frozen.

Therefore, those corrupt officials who are unaware of the truth are hoarding large amounts of cash. Some even purchase separate villas specifically to store the cash. It is not because they like it, but because they simply dare not deposit the cash into their personal bank accounts.