A Research On Tax Planning Of Chinese Listed Companies Mergers And Acquisitions

Merger activity is not only an important form of enterprise capital operation, but also is one of the important measures of enterprise strategic investment and a powerful tool for business decision making. Effective tax planning can reduce spending on mergers and acquisitions, is conducive to the realization of enterprise value maximization. This paper researches the problems in China listed company merger restructuring in the course of tax planning, aims at helping companies to carry out a legal, scientific and general tax planning activities in full consideration, and aims at fully utilize relevant tax policies of the country, in order to avoid unnecessary merging cost and to increase the possibility of success of merger and acquisition.Based on China listed companies’ merger and acquisition events, this paper uses theories and empirical method to fully illustrates relevant theories and policies, systematically analyzes the environment of merger and tax planning of China listed companies, analyzes the tax burdens in different processes and relevant tax planning strategies, and further refer to specific merger and acquisition case to enable the paper more convincible.The paper is divided into six parts. The 1st part is introduction. The 2nd part is the introduction of company merger and tax planning, including basic merger theories, tax planning theories and their relations, as well as the feasibility of merger and tax planning. The 3rd part is the current situation and environment analysis of merger and tax planning of China listed companies, illustrates the tendency of China listed companies’ mergers and acquisitions, introduces the internal and external environment of the tax planning in mergers and acquisitions of China’s listed companies. The 4th part is the tax planning of merger and acquisition of China listed companies, explored the selection of acquisition target, acquisition payment terms and acquisition financing instruments, based on examples to pose specific implementation planning of China’s listed companies. The 5th part is the practical application. It utilizes S Petrochemical Company’s acquisition and reorganization practice to make an empirical research. The 6th part goes to conclusion.