The Research On Tax Planning In Enterprises Merger & Acquisition

In order to achieve the scale expansion of the enterprise and resource integration,under the impetus of the rapid economic development,merger,acquisition and reorganization of this economic behavior is more and more used in the process of enterprise development.M&A market both at home and abroad,our country enterprise has showed a strong momentum.In many influence factors of mergers and acquisitions,tax factors restrict the success or failure of mergers and acquisitions.So as to more smoothly completed,merger,acquisition and reorganization must be conducted in accordance with the law in accordance with the rules of tax planning.At the same time,in order to encourage and regulate the market behavior of mergers and acquisitions,a series of preferential policies and regulations in the tax in China.Enterprise how to correctly use the policy,therefore,to design and choose the suitable with its own development of tax planning scheme,is the ultimate can decrease the cost of M&A,the key to the implementation of the enterprise benefit maximization.This paper summarizes the domestic and foreign documents related to tax planning in M&A and recombination,and analyzes the tax planning methods from four aspects,including the selection of target enterprises,the choice of payment method,the choice of financing method and the integration after recombination,in combination with relevant tax policies and regulations in China.Jiu Steel Group Hongxing Iron and Steel Co.,Ltd.(hereinafter referred to as Hongxing company)acquisition of Zhangye Juxinda Technology Development Co.,Ltd.(hereinafter referred to as Juxinda company)of the cases,analyzes the involved in mergers and acquisitions part of income tax,value-added tax,deed tax and stamp duty and other taxes,to described earlier four fords the link tax planning five merger and acquisition scheme was put forward.The two schemes under the cash payment method that will bring greater financial risk to Hongxing company are excluded,as well as the schemes with the highest total cost of tax payment and merger.In the remaining two schemes,the special tax treatment scheme is selected and the tax cost is significantly reduced by using the tax synergies theory.From the case analysis of this paper,it can be seen that the design of tax planning scheme during the merger and reorganization of enterprises should take into account the tax categories of all links involved in tax and take the overall merger cost into consideration.After determining the appropriate M&A target,payment method and financing method can be integrated and planned,which will determinethe size of M&A cost.When selecting M&A plans,the two sides should consider the costs of the two parties,and should not only consider the cost of one party,but also improve the possibility of the success of M&A based on the premise of optimal overall interests.This paper takes the asset merger and acquisition of the target enterprise without control as an example.From the perspective of Hongxing company and Juxinda company,it enriches the literature and case types of asset merger and acquisition in the tax planning of enterprise merger and reorganization,and provides a new perspective for the research on the target selection of tax planning of merger and reorganization.This paper is helpful for the establishment of tax planning framework of enterprise merger and reorganization,and provides reference for tax planning practice of enterprise merger and reorganization.