Research On Income Tax Policy Of Enterprise M&A In China

M&A is an important way to realize the leap-forward development strategy of the enterprise,and it is also an important way for China to deepen the structural reform of the supply side.M&A can not only improve the efficiency of resource allocation,optimize the industrial structure,but also promote social and economic development.M&A market development is inseparable from the norms of the system.China has established M&A income tax system,but because of the short establishment time,China's M&A income tax system is still not clear enough and not reasonable.This not only hinders the real M&A for reasonable business purposes,but also difficult to limit tax avoidance.As property rights transactions,corporate M&A process will involve a lot of taxes,of which income tax has greater impact.It is of great significance to study how to further improve the current corporate M&A income tax system,both in theory and at the realistic level.From the theoretical point of view,the study of M&A corporate income tax policy will help enrich the theoretical framework of M&A income tax system,and provide theoretical reference for further guidance on M&A practice.From the practical point of view,discussing the shortcomings of M&A income tax policy and putting forward suggestions for improvement,is conducive to promoting China's M&A market norms and healthy and rapid development.After analyzing the evolution of M&A income tax system and the current application of tax policy,this paper explores the existing problems of M&A income tax policy through case analysis and puts forward some suggestions on how to improve it.In addition to the first chapter,the rest are as follows.The second chapter elaborates the theory of M&A tax,laying the theoretical foundation for the case analysis below.The third chapter gives a brief analysis of the development process of China's M&A income tax system and the current tax policy.In China's M&A market,the corresponding income tax preferential policies to promote regional development is less obvious.The introduction of the fiscal and taxation[2014]No.109 will help to enable more enterprises to enjoy special tax treatment.In the fourth chapter,through the tax analysis of Sinopec Oilfield Service Corporation,it shows that the current M&A tax policy has problems in the specific tax treatment judgment,the M&A fee processing and the legislative level.In addition,there are problems in terms of loss-making period,and so on.The fifth chapter is the policy recommendations.In the determination of the criteria for the determination of reasonable commercial purposes,it should be based on the existing terms,given the authority of the specific quantitative criteria,so that the parties in the determination of a unified easy to operate the standard can be followed to eliminate the existence of the decision divergence.In view of the diversity of M&A transactions,it is difficult to quantify all to maintain the existing refinement criteria.The relevant departments can be based on work experience and extensive public opinion on the basis of the introduction of reference cases which listed in line with reasonable business purposes and do not meet the commercial purpose kind of case.Optimize the owners of the continuing criteria for determining the interests of the acquisition of the acquisition of the acquisition of enterprises acquired assets or equity ratio.Taking into account the real situation of the market supply and demand of goods and other real conditions,companies will inevitably change the original business content will be adjusted,so the business can not be defined as the business content which must be kept 100%unchanged.The relative maintenance of its continued should be defined as a substantive business.In the case of a acquirer,regardless of whether the transaction in which it participates meets the specific tax treatment standards,the costs incurred shall be treated as capital expenditures.In addition,it is recommended to gradually raise the level of legislation on income tax policies.