Research On Individual Income Tax Policy Of Stock Ownership Incentive In China’s Listed Companies

As a long-term compensation incentive model,equity incentive has significant advantages compared with the traditional "salary + bonus" incentive model,and has been favored by many listed companies in China in recent years.On the one hand,equity incentive makes the goals of owners and operators of enterprises consistent,constraines the shortsighted behavior of operators who ignore the long-term goals of enterprises for their own interests,and proposes a new thought for optimizing the principal-agent relationship.On the other hand,equity incentive focuses on the long-term incentive effect,which is like a pair of "golden handcuffs" to bind the employee to the enterprise,attract and retain core talents,and improve the efficiency of human capital.With the promotion of the strategy of governing the country by law and the diversification and complexity of equity incentive mode,the personal income tax policy of listed companies in China has been constantly supplemented and perfected.However,due to the restriction of numerous conditions,the current tax policy has not done a good balance between fairness and efficiency,compliance and rationality,which to some extent weakens the incentive object’s enthusiasm for long-term shareholding and hinders the play of equity incentive effect.The introduction of the new individual income tax law has caused a certain impact on the original policy framework system of equity incentive,and the future policy direction is still not clear.Therefore,it is especially indispensable to analyze and optimize the personal income tax policy of equity incentive in China.This thesis focuses on the personal income tax policy of equity incentive of listed companies in China,analyzes the problems of the current tax policy of China through sorting and summarizing the existing policies,and puts forward policy optimization measures with the help of the specific case of Midea Group and the experience of developed countries in Europe and the United States.Firstly,this article introduces the concept and pattern of equity incentive,analyzes the theoretical basis of equity incentive implementation and the theoretical basis of levishing individual income tax on equity incentive,and expounds the action mechanism of individual income tax policy on equity incentive;Secondly,combing our country listed company equity incentive policy to the transmutation of individual income tax,summarizes the equity incentive income for the details of individual income tax tax treatment and the shortage existing in the current policy after the multi-dimensional analysis found that the equity incentive in the practice of personal income tax in the property definition is not reasonable,tax link has shortcomings,lack of preferential tax rate is too high and,At the same time,it exposes the disadvantages of "one-size-fits-all" policy implementation,"blank" area of policy and unclear policy guidance;Thirdly,from the perspective of water-related practice,midea Group,a listed company in China,is selected as the case of analysis.After in-depth research on the implementation of equity incentive,the influence of individual income tax policy on incentive effect is analyzed.Through the small to see the big method to the policy of the inadequacy of the evidence.Finally,this paper studies the equity incentive individual income tax policies of three western countries,and summarizes the experience and enlightenment for China to use for reference.Above the comprehensive theoretical analysis,case analysis and international experience for reference,on the basis of combining with China’s specific national conditions,try to put forward the following possible policy recommendations: first,improve the equity incentive of personal income tax policy framework and guidance,second,optimize the equity incentive elements of individual income tax system,third,perfect the equity incentive system of individual income tax related supporting.In order to exert the long-term incentive effect of equity incentive and promote the healthy development of China’s tax policy.