第21章必讲后备-国际税收环境与转移定价课件

1、第21章必讲后备-国际税收环境与转移定价,INTERNATIONAL FINANCIAL MANAGEMENT,第21章必讲后备-国际税收环境与转移定价,INTERNATIONAL FINANCIAL MANAGEMENT,EUN / RESNICK,Fourth Edition,第21章必讲后备-国际税收环境与转移定价,Chapter Outline,The Objectives of Taxation Types of Taxation The National Tax Environments（国别税收环境） Organizational Structures for Reducing

2、Tax Liabilities Branch and Subsidiary Income Payments to and from Foreign Affiliates Tax Havens Controlled Foreign Corporation Transfer Pricing the organizational form of the MNC can affect the timing of the tax liability.,第21章必讲后备-国际税收环境与转移定价,Types of Taxation,Income Tax Withholding Tax Value-Added

3、 Tax,第21章必讲后备-国际税收环境与转移定价,Income Tax,An income tax is a tax on personal and corporate income. Many countries in the world obtain a significant portion （很大一部分）of their tax revenue from income taxes. An income tax is a direct tax, that is one that is paid directly by the taxpayer upon whom it is levie

4、d（被征收）.,第21章必讲后备-国际税收环境与转移定价,Corporate Percentage Income Tax Rates in Selected Countries,第21章必讲后备-国际税收环境与转移定价,Corporate Percentage Income Tax Rates in Selected Countries,第21章必讲后备-国际税收环境与转移定价,Withholding Tax,Withholding taxes are withheld（扣缴） from the payments a corporation makes to the taxpayer. The

5、 taxes are levied on passive income earned by an individual or corporation of one country within the tax jurisdiction（税收管辖权） of another country. Passive income includes interest income and dividends, income from royalties（特许权收入）, patents, or copyrights. A withholding tax is an indirect tax.,第21章必讲后备

6、-国际税收环境与转移定价,U.S. Tax Treaty Percentage Withholding Tax Rates with Selected Countries,第21章必讲后备-国际税收环境与转移定价,U.S. Tax Treaty Percentage Withholding Tax Rates with Selected Countries,第21章必讲后备-国际税收环境与转移定价,U.S. Tax Treaty Percentage Withholding Tax Rates with Selected Countries,第21章必讲后备-国际税收环境与转移定价,Value

7、-Added Tax,A value-added tax is an indirect tax levied on the value added in production of a good or service. In many European and Latin American countries the value-added tax has become a major source of taxation on private citizens. Many economists prefer a value-added tax to an income tax because

8、 the incentive effects of the two taxes differ sharply.,第21章必讲后备-国际税收环境与转移定价,Value-Added Tax,An income tax has the incentive effect of discouraging work. A value-added tax has the incentive effect of discouraging consumption (thereby encouraging saving). Value-added tax is easier to administer as we

9、ll. While taxpayers have an incentive to hide their income, producers have an incentive to make sure that their upstream suppliers in the production process declare the value added (and pay the tax!).,第21章必讲后备-国际税收环境与转移定价,Value-Added Tax Calculation,In this example, the tax rate is 15 percent. Suppo

10、se that stage one is the sale of raw materials to the manufacturer; stage two is the sale of finished goods to a retailer; stage three is the sale of inventory from the retailer to the consumer.,= 100 .15,= 200 .15,= 80 .15,= 380 .15,15,30,12,57,第21章必讲后备-国际税收环境与转移定价,Other Types of Taxation,A wealth

11、tax is a tax levied not on income but on the wealth of a taxpayer. Property taxes are an example. A poll tax（人头税，投票税） is a tax on your existence. It is so called because it was collected from those who wished to vote.,第21章必讲后备-国际税收环境与转移定价,The National Tax Environments,Worldwide Taxation（全球性税制） Terri

12、torial Taxation（地区性税制） Foreign Tax Credits（国外税收抵扣）,第21章必讲后备-国际税收环境与转移定价,Worldwide Taxation,Tax national residents of the country on their worldwide income no matter in which country it was earned.,第21章必讲后备-国际税收环境与转移定价,Territorial Taxation,Territorial taxation tax（征税，这里是动词） residents based upon where

13、 the taxable event occurred.,第21章必讲后备-国际税收环境与转移定价,Foreign Tax Credits,美国选择的避免双重征税的方式，是对跨国公司来自外国的收入已向外国当局缴纳的税款进行抵扣，即不再对这部分收入按照美国税制征税。外国税收抵扣总额不应高于假设这部分外国收入发生在美国的纳税额。税收抵扣的最高额度以全世界外国来源所得计算，发生在不同国家的损益可以相互冲销，某一税收年度未抵扣完的可以回抵过去1年和未来10年的税收。 Allows taxpayers to recover somewhat from double taxation. Direct fo

14、reign tax credits are computed for direct taxes paid on active foreign-source income of a foreign branch of a U.S. MNC or on withholding taxes withheld from passive income. Indirect foreign tax credits are for income taxes paid by the subsidiary.,第21章必讲后备-国际税收环境与转移定价,Examples of Calculating U.S. For

15、eign Tax Credits for Subsidiary Operations,第21章必讲后备-国际税收环境与转移定价,Organizational Structures for Reducing Tax Liabilities,Branch & Subsidiary Income（分公司及子公司的收入） Payments to and from Foreign Affiliates Tax Havens Controlled Foreign Corporation Foreign Sales Corporation,第21章必讲后备-国际税收环境与转移定价,Branch & Subs

16、idiary Income,An overseas affiliate of a U.S. MNC can be organized as a branch（分公司） or a subsidiary（子公司）. A foreign branch is not an independently incorporated（独立成立的） firm separate from the parent. Branch income passes directly to the parents income statements. A foreign subsidiary is an affiliate o

17、rganization of the MNC that is independently incorporated. Income may not be taxed in the U.S. until it is repatriated（被返回）, under certain circumstances.,第21章必讲后备-国际税收环境与转移定价,Payments to and from Foreign Affiliates,Having foreign affiliates offers transfer price tax arbitrage strategies. The transfe

18、r price is the accounting value assigned to a good or service as it is transferred from one affiliate to another. If one country has high taxes, dont recognize income therehave those affiliates pay high transfer prices. If one country has low taxes, recognize income therehave those affiliates pay lo

19、w transfer prices.,第21章必讲后备-国际税收环境与转移定价,Tax Havens,被称为避税天堂的国家或地区，公司所得税税率和预提税税率都很低。例如，巴哈马、巴拿马、巴林、香港、开曼群岛、百慕大群岛、英属维尔京群岛、海峡群岛等。其中，巴拿马和香港外国来源的所得是免税的。 Tax havens are countries with low corporate income tax rates and low withholding tax rates on passive income. Tax havens were once useful as locations for

20、 a MNC to establish a shell company. The Tax Reform Act of 1986 greatly diminished the need for and ability of U.S. corporations to profit from the use of tax havens. 税收改革法案的目的是防止一定所得在避税国家的税收延迟、并通过减少美国跨国公司从外国税收抵扣中获得的利益来增加税收。,第21章必讲后备-国际税收环境与转移定价,中国对外投资主要目的地,第21章必讲后备-国际税收环境与转移定价,Controlled Foreign Co

21、rporation,美国居民控股的国外公司是指美国股东拥有50%以上表决股份的外国子公司。美国股东可以是任何美国公民、居民、合伙企业、公司、信托或地产商，只要它拥有或间接拥有10%以上居民控股的国外公司具有投票权的股权。即使6个非关联的美国股东各自拥有同一家外国公司10%具有投票权的股权，就可以把该公司视为控股外国公司。美国公司的非控股外国公司的未分配利润会被延期征收，直至以股利形式被汇回。对控股国外公司的所得要立即征税。所得包括：保险所得；国外公司所得（即与销售、运输、和石油相关的被动收入）；来自遭遇国际联合抵制国家的收入；来自美国与之断交国家的收入。收到的非法贿赂、回扣等收入。 The T

22、ax Reform Act of 1986 created a new type of foreign subsidiary: the controlled foreign corporation. A controlled foreign corporation is a foreign subsidiary that has over half of its voting stock held by U.S. shareholderseven if these shareholders are unaffiliated（即使这些美国股东间彼此独立）.,第21章必讲后备-国际税收环境与转移定

23、价,Controlled Foreign Corporation,The undistributed income of a minority foreign subsidiary of a U.S. MNC is tax deferred until it is remitted（寄回） via a dividend. This is not the case with a controlled foreign corporationthe tax treatment is much less favorable. The result is that foreign tax credits

24、（税收抵免） are unlikely to be completely used. 虽然在诸如避税天堂等地交税较少，但是美国控股的国外公司在美国要补缴差额税收。,第21章必讲后备-国际税收环境与转移定价,Transfer Pricing & Related Issues,The Transfer Price is the price that for accounting purposes, is assigned to goods and services flowing from one division of a firm to another division. Controvers

25、ial even for a domestic firm. Consider the example of a firm that has one division that mills lumber（加工木材） and another that makes furniture. The transfer price of the lumber is a political as well as economic and accounting issue.,第21章必讲后备-国际税收环境与转移定价,Transfer Pricing & Related Issues,For MNC, there

26、 exists the added complications of: Differences in tax rates. Import duties and quotas. Exchange rate restrictions on the part of the host country.,Most countries have regulations controlling transfer pricing. In the U.S., the tax code requires transfer prices to be arms length prices（公平价格，独立企业间的交易价

27、格）.,第21章必讲后备-国际税收环境与转移定价,Arms Length Price,A price that a willing seller would charge a willing unrelated buyer. The IRS prescribes three methods for estimating an arms length price Comparable uncontrolled price. Resale price: the price at which the good is resold by the affiliate is reduced by over

28、head（经常性费用） and profit. Cost-plus approach: an appropriate profit is added to the cost of the manufacturing affiliate.,第21章必讲后备-国际税收环境与转移定价,转移定价案例应用,Mintel制造公司生产的产品从母公司输送到海外全资子公司进行销售。产品单位变动成本1500美元，销售子公司卖给最终顾客的零售价为3000美元。EXHIBIT 21.5 Low versus High Transfer Pricing Strategy between Mintel Affiliate

29、s with the Same Income Tax Rate,第21章必讲后备-国际税收环境与转移定价,EXHIBIT 21.6 Low versus High Transfer Pricing Strategy between Mintel Affiliates with Differential Income Tax Rates,第21章必讲后备-国际税收环境与转移定价,EXHIBIT 21.7 Low versus High Transfer Pricing Strategy between Mintel Affiliates with Differential Income Tax

30、Rates and a 5 Percent Import Duty,第21章必讲后备-国际税收环境与转移定价,EXHIBIT 21.8 Low versus High Transfer Pricing Strategy for Mintel with Low Transfer Price and Additional Royalty Charge with Differential Income Tax Rates,第21章必讲后备-国际税收环境与转移定价,Advance Pricing Agreement（预约定价协议）,预约定价协议是跨国公司与某国税收当局之间签订的具有法律约束力的契约。例如，按照预约定价协议，IRS不再根据美国税收法典第482条的要求对某些被称为抵补业务的交易进行转移定价调整。预约定价协议中的具体转移定价方法可提前5年通过协商确定。 预约定价协议既可以是单边的，也可以是双边的，甚至可以是多边的。单边的预约定价协议指纳税人与某国税收当局就在该国的纳税问题进行协商。双边或多边预约定价协议是纳税人与一国或一国以上的税务当局按照税收条约所明确的协议程序所签订的协议。这样，纳税人来自抵补业务交易的收入就不会遭到双重征税。例如，2007年1月，中美两国签订了一份与沃尔玛有关的双边预约定价协议。预期该预约定价协议将成为未来两国间开展这方面合作的翻版。