【作者】 李时；

【导师】 吴旭东；

【作者基本信息】 东北财经大学 ， 财政学， 2013， 博士

【摘要】 改革开放以来,随着我国企业综合实力的不断提升,走出国门,参与世界竞争的企业不断增多。企业走出国门对于我国实现资源有效利用,改善内部投资结构,利用国内、国际两个市场发展,提升整体实力具有重要意义。国际上的研究成果表明随着经济全球化的不断发展,税收政策对境外投资的导向作用变得越来越显著。投资母国对外投资的税收政策是影响对外投资决策的一项重要因素,对对外投资规模、选址决策、投资形式以及跨境并购等行为具有一定的影响力。研究对外投资所得税制度对于支持我国企业“走出去”参与国际竞争,合理引导企业的投资方向具有重要的现实意义。本文首先从企业所得税制度与对外投资的联系出发,研究所得税因素对对外投资的影响作用。跨国公司的对外投资行为受到多种因素的影响,如商业上的考虑、投资国的政策环境、劳动力市场的特点、产品市场的竞争、成本、原材料的本地可获得性、与销售市场的距离等。税收因素由于对跨国投资税后利润的影响,也是影响对外投资的因素之一。长期以来国内外的专家学者一直在探讨税收因素对对外投资的影响作用。前期的很多研究主要关注投资东道国税收在吸引境外投资方面的影响作用,较少探讨投资母国税收政策对本国企业“走出去”的推动作用。投资母国所得税制度影响对外投资的主要税收要素包括投资母国税率水平、对来源境外所得的确认、避免双重征税以及推动境外投资的激励政策等内容。分析母国各项税收要素影响作用表面,母国税收对对外投资具有一定的影响力,并且随着跨境资本流动的增强,所得税对对外投资的影响作用也在逐渐加大。母国所得税制度对跨国公司的投资行为的影响表现在对外投资规模、选址决策、投资形式、对外并购的方面。第三部分论述全球对外投资的发展状况以及对外投资企业所得税制的需求。近年来对外投资发展迅速,投资总额及投资内容、投资形式都发生了深刻的变化。如何适应对外投资的发展步伐设计相应所得税的制度体系以推动对外投资的发展是各国税务当局不断探讨研究的问题。对外投资发展涉及的企业所得税问题,主要包括国际税收管辖权的确定、国际税收利益的分配、国际双重征税的免除、境外投资亏损的结转与退税、税收饶让以及国际反避税问题等。对这些问题的处理,构成一国对外投资的所得税制度内容。它一般由国内税法中的相关部分与税收协定组成首先税收管辖权的确定对外投资所得税制度首先要解决的主要问题。它决定了各国的征税原则和征税范围。国际税收管辖权主要分为两类,居民管辖权和来源地管辖权。居民管辖权是对本国居民来自全球的所得征收本国所得税。来源地管辖权是仅对来源本国境内的所得征收所得税。两种管辖权原则各有优劣。实践中很少有国家实施完全的居民管辖权或完全的来源地管辖权,通常是一种原则为主的混合管辖权制度。国际税收利益的分配是对外投资所得税制需要解决的另一个问题。跨国公司的对外投资活动会涉及到两个或两个以上国家的资金、业务等往来。各国税收制度的差异可能会导致税务争议的发生,如对所得来源地确认制度不同,对同一项业务活动,相关国家都有可能判断为来源本国境内而征税,导致纳税人的税收负担加大,投资风险增加。国际税收利益的合理分配是对外投资所得税制的重要内容。因此各国应当通过国际协调,确定合理的国际利益分配原则,指导跨国公司在国际业务活动中合理分配归属于各国的税收利益。避免双重征税问题是对外投资所得税制度的重要内容。由于对外投资所得在投资国已经缴纳的所得税款,在所得以股息或利润形式回到投资母国时,如果再按照投资母国税率再征收母国所得税,势必造成同样所得双重征税的问题,增加了投资企业的税收负担,不利于其参与国际市场的竞争。各国根据本国税制对来源境外所得分别规定了抵免法、免税法或扣除法等避免双重征税的方法。对外投资中的避税问题也是税收政策应当着力解决的重点问题。投资母国与投资国之间的税率差异常常会导致跨国公司通过与境外关联子公司的转让定价交易将利润转移到低税率国家。统计数据表明境外投资的选址多集中在低税或无税地区,说明在境外的投资活动中税收筹划行为越来越明显。2007年加拿大境外直接投资的16.5%是在巴巴多斯,巴哈马,百慕大和开曼群岛。而在1997年仅有5.4%是在上述区域投资。我国2010年的对外投资中14%流向了英属维尔京群岛和开曼群岛,这些地区被称为避税天堂或低税率地区。跨国公司实际是在这些高税率国家从事高附加值的业务活动,而将收益转移到避税港地区。随着境外投资活动的不断开展,国际避税活动变得极为普遍。一些跨国公司利用各国间税收制度的差异,通过以债务投资代替权益资本投资、利用避税港避税、集团成本分摊等手段将所得从税负高的国家转移到税负低的国家,或者延迟缴纳税款。跨国公司的税收筹划行为使相关国家的税收利益受到侵蚀。各国在税收制度上不断出台反避税的法律规定,阻止跨国避税行为。根据跨国公司的不同避税方式,相应的法律规定分别为转让定价调整、受控外国公司法(CFC)、反资本弱化规定以及一般反避税条款等。国际税收协定对支持各国间开展贸易投资活动具有重要作用。税收协定主要宗旨就是消除国际双重征税和阻止跨国的偷避税行为。尽管不同国家之间所签订的协定内容各有不同,但大多都以OECD税收协定范本为基本框架,针对不同所得合理划分协定国之间的税收管辖权,并对消除双重征、阻止国际间的避税做出相应规定,提出通过协商程序解决国际间税收争议等。第四部分介绍了我国目前对外投资企业所得税制度的主要内容,存在的问题,以及出现问题的历史原因。我国对外投资所得税制的建立借鉴了西方理论及发展实践,以税收中性原则为基础,结合我国经济的发展状况,确定了以居民管辖权为主同时结合来源地管辖权的征税制度,对我国居民来自全球的所得征收所得税,对非居民来源于我国境内的所得征收所得税,对境外所得已征税款实行分国不分项的限额抵免制度。针对境外投资高新技术所得和资源开发项目所得确定了优惠政策规定。并且针对跨国避税行为我国所得税法中单独设立了特别纳税调整条款,对转让定价、成本分摊、资本弱化、受控外国公司等避税行为明确了处理办法,通过一般反避税条款对一些滥用税收协定、避税港避税等法律没有明确的避税行为作出一般性的规定。国际税收协定是我国对外投资所得税制度的重要组成部分,通过与协定国在跨国税收管辖权的确定、避免双重征税以及反避税等国际税收事项上的共识,支持我国企业的对外投资活动。我国境外投资所得税制的基本框架形成于改革开放之初,当时对外投资业务不多,内容较为单一,主要以出口贸易为主。税收政策的主要导向为吸引外资,提高我国的技术管理水平,对于境外投资未给予足够的关注。近几年来我国对外投资的总体水平不断上升,投资区域不断扩大,跨境重组、并购不断增多,投资行业多元化,并形成了一些境外的经贸合作区。从国际来看看,各国为促进对外投资活动的开展不断改革对外投资所得税制,企业所得税率呈现降低趋势,税收制度逐渐转向对来源境外所得免税制度,对跨国避税活动日益引起关注。尽管从2008年以后随着我国境外投资的发展,境外投资所得税的相关内容得到补充和完善,增加了间接抵免,反避税等内容,但从总体来看,我国境外投资所得税制仍然存在以下几个方面的不足。如对外投资企业所得税制度单一,税收抵免政策过于复杂,跨境重组并购所得税政策不明确,税收协定支持作用不强,反避税规定滞后于对外投资发展。国际税收制度的相互联系相互影响要求我国适时完善我国对外投资所得税制度,减轻对外投资的税收负担,增强我国企业在国际市场上的竞争力。本文最后提出了完善我国对外投资企业所得税制度的建议。随着我国经济实力的提升,企业总体竞争力的增强,我国对外投资水平持续快速增长,投资形式和投资内容都发生了深刻的变化,我国应当适应对外投资的发展变化,不断改革完善我国目前的对外投资所得税制。我国所得税制度设计的总体目标是建立与国际惯例相适应的、税负较为公平合理的、法律制度体系较为完备的、能够满足对外投资发展需要的、体现优胜劣汰导向的企业所得税政策体系,应当实现提高资源配置效率,维护国家税收主权,支持对外投资发展,简化税制等目标。完善我国对外投资企业所得税制的总体思路应当包括完善税收抵免政策并逐步过渡到免税政策,构建支持对外投资的税收激励政策体系,完善有效遏制对外投资避税筹划的反避税政策体系,建立有效支持对外投资的税收协定网络。更多还原

【Abstract】 Since the system reform and opening door policy, our companies become stronger, more and more Chinese domestic companies go investment abroad. The outward investment is helpful for the improvement of our economy by the use of the world resources, adjusting our inner investment system and competes in both the domestic and the world market. The world research indicated that tax influence on the foreign investment is more and more striking with the globalization of the world economy. The mother country tax system for investment abroad not only influences the location decision of outbound investment, but also the investment volume, financing of the investment and cross-border merger and acquisitions. It is worth to make research on our income tax system to support our companies compete in the world market.The effect of corporation tax on outward investment is obvious, because the tax will influence the after tax profit. But the extent of tax influence on investment is still under researching. In the real world, there are many factors the company should considered before making investment decisions, such as the other country’s business environment, political system, labor resources, market future, material available, etc. Some researchers have trying to identify tax effect on outward investment. Previous analysis focus on the host country’s taxation in attracting the foreign investment, pay less attention to mother country’s tax effect. In fact, the impact of mother country taxation is estimated to be relatively large. The mother taxation system influence outward investment volume, financing, location, and merger and acquisitions.The third part discusses the global investment and what mother taxation system should prepared for. International tax system should covered such items as tax jurisdiction, allocation of international profit, double taxation release, loss carry forward or afterward, tax sparing and anti-avoidance of taxation. These items can be find in domestic tax law and international tax treaty. International tax jurisdiction is an important part of tax system. It prescribes the tax principle and tax boundary. It is the rule to protect each country benefit. International tax system is classified into resident jurisdiction rule and source jurisdiction rule. Resident jurisdiction rule requires taxing its resident world wide income. And in order to release double taxation, allow the tax paid in foreign country credit to domestic tax. Source taxation rule only taxes domestic source taxable income. Practically few countries carry the complete resident jurisdiction rule and complete source jurisdiction rule. Many countries take a hybrid jurisdiction rule, relying on one jurisdiction principle and make some exceptions. This article compares the two principles, and introduces tax policies each concerned.The allocation of international revenue is the issue faced by international tax system. Cross border investment will cover more than2countries. International tax system difference may cause dispute on the allocation of cross border revenue, such as different source rule may cause one item to be taxed in both counties. This issue can be solved by countries negotiation. Tax treaty will be helpful, and international tax reconciliation system should be established.Double taxation release is quite important of international taxation. When dividend remits to its mother country, it has already been taxed by the host country. And if the mother country taxes dividend according to resident jurisdiction rule. The same income has bee taxed twice. Double taxation increases tax burden of the investment activity, and discourage its competition in the world market. There are credit method, exemption method and deduction method for releasing double taxation..Taxation avoidance is a problem which has attracted tax authority’s great attention. Multinational Corporations can take advantage of tax system difference among nations and move its profit from high tax country to low tax country by related party transactions. Statistic data proved that many outward investments located in low tax or not tax jurisdiction. In2007,16.5%Canada FDI located in Barbados, Bahamas, Bermuda and Cayman Islands. In1997, only5.4%Canada FDI found in that areas.In2010,14%of China investment flow to British Virgin Islands and Cayman Islands, which are called tax heaven. In fact most of value added activities are carried in high tax countries and the revenue is transferred to tax heaven. With the development of outward investment, international tax avoidance has become very common. Some multinational corporations take advantages of international tax system differences transfer profit from high tax country to low tax country by debt investment, tax heaven, cost allocation among group, etc. Tax avoidance plan have eroded related country’s tax base. Many countries have published some rules to deter such activities. The Anti avoidance tax rules many counties have set in laws are transfer prizing rule, CFC rule, thin-capitalization rule and general avoidance of tax evasion rule.Tax treaty is help to release double taxation and anti-avoidance of taxation. Even though the content is not the same among different countries, many treaties are based on OECD treaty model.Our international tax system is based on resident jurisdiction rule, and complys with tax neutrality principle, learning the other countries experience and focus on our country actual conditions. Chinese residences should pay income tax for their world wide income, non-residences should pay Chinese income tax for the Chinese source income. Foreign tax paid will be credit to domestic tax. Our income tax system includes anti-avoidance taxation rules, such as transfer pricing adjustment, cost sharing, control foreign company, thin capitalization and general anti-avoidance of taxation.Our outbound income tax system originated from1980s. At that time we have not many outbound investments. The main purpose of our international tax system was to attract the inbound investment. It did not pay enough attention to the outbound activities. Nowadays our outbound investment increases fast. The investment area are large. Cross-border merger and acquisitions increase. And the other countries income tax system reformed according to the outward development. Since2008, with the increase of outbound investment, some reform has been made on our original tax system, such as the indirect tax credit policy, thin capitalization, control foreign company rule etc. But there are still some problems in our current income tax system for the outbound investment, such as the credit system is too complicated to implementation, no specific tax policy for the cross-border merger and acquisition, treaty did not work efficiently, anti-avoidance of taxation rule is behind the way etc. In order to push the development of our outbound investment, our income tax system should stick to the following principles, keeping tax neutrality, protecting our nation’s benefits, supporting outbound investment, being easy to comply with and carry out. The paper proposes some ideas to improve the current credit system and gradually moving into exemption system, establish the incentive tax system for the outbound investment, propose ways to perfect current anti-avoidance taxation rules along with the cross-border activities’changing and perfect current tax treaty net work..更多还原