As tax constitutes the biggest sector in the financing cost of securitization, the taxation legal system is scientific or not directly decides the success and prosperity of securitization in China. In the thesis, the author studied and made suggestions on the issues of establishing and improving Chinese taxation legal system of securitization. By doing this, the author wished to do some favor to the development of securitization in China.This paper starts from the introduction of definition, legal relations of the securitization of credit assets, and discusses the factors of taxation in order to validate tax liability. Aimed at the existing problems, the author proposes: 1) For originator transferring assets, the business tax shall not be levied or shall be exempted; 2) levying business tax on SPV, which is one of financing channels for originator, is not in accordance with the basic principal 5of business tax; 3) The income of investors should be defined as bond interest income, and this shall not be levied on business tax.The preferential tax and the tax avoidance can promote the healthy development of securitization of credit assets. These measures should be specifically legislated and should not be abused. In the last part of the paper, the author obtains the summary that China's securitization tax policy should adhere to the neutral and substantive taxation principle.
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