A Study On The Subject Qualification Of Tax Payment Of Special Purpose Trust Under The Framework Of Asset Securitization

The thesis begins with the uncertainty in the qualification of taxation subjects of special purpose trust(hereafter abbreviated to SPT)in asset securitization.Problems can be found through the analysis on present law systems of SPT.Then,the paper applies the taxation model of SPT stipulated in Securities Investment Fund Law to the asset securitization.In the case of SPT not being the subject of tax payment in the tax law,it is been discussed whether the problem of law application and new problems caused by it can be solved by the direct taxation on the investors.After applying the transparent tax model of SPT and coming to a conclusion that the model is not operational,the article probes into the qualification of subject of enterprise income tax of SPT.Using the theory of trust entity,and through the analysis in the tax law,it is concluded that SPT can become legal entity,and has the qualification of being the subject of the taxation in enterprise income tax which conforms to the current legal system(this article mainly refers to Enterprise Income Tax Law).On the basis of analysis above,the thesis discusses the possible problems of SPT and the construction of corresponding supporting system,thus further consolidating the conclusion that SPT has the qualification of taxation subject.In the course of the study,the author mainly used the method of comparative analysis and normative analysis,and so on.The innovation of this paper lies in the author's analysis that SPT has the qualification of being the taxation subject of enterprise income tax under the situation of asset securitization in the context of Chinese law system.This paper is divided into five parts.The first part mainly introduces the basic transaction structure of asset securitization,as well as the issue of the legal status and the qualification of taxation subject of SPT in asset securitization.The second part mainly introduces the dual-taxation system of SPT under present law system and relevant disputes.The third part mainly introduces SPT's transparent taxation model under the background of asset securitization,and rethinks the applicability of it in asset securitization.The fourth part mainly introduces the establishment of SPT's qualification of taxation subject in enterprise income tax,relevant problems,and the construction of corresponding supporting system.The fifth part is the conclusion of the thesis.