必讲后备国际税收环境与转移定价第二十一章

必讲后备国际税收环境与转移定价第二十一章INTERNATIONALFINANCIALMANAGEMENTINTERNATIONALFINANCIALMANAGEMENTEUN/RESNICKFourthEditionChapterObjective:Thischapterprovidesabriefintroductiontotheinternationaltaxenvironment.本章对跨国公司税收筹划很有用，对从事国际金融资产投资也很有指导意义。21ChapterTwenty-oneInternationalTaxEnvironmentChapterOutlineTheObjectivesofTaxationTypesofTaxationTheNationalTaxEnvironments（国别税收环境）OrganizationalStructuresforReducingTaxLiabilitiesBranchandSubsidiaryIncomePaymentstoandfromForeignAffiliatesTaxHavensControlledForeignCorporationTransferPricing&RelatedIssuesBlockedFunds（冻结资金）TheObjectivesofTaxationThetwinobjectivesoftaxationare:1. TaxNeutrality（税收中性）2. TaxEquity（税收公平）TaxNeutralityAtaxschemeistaxneutralifitmeetsthreecriteria:1.

CapitalExportNeutrality:thetaxschemedoesnotincentivisecitizensmovetheirmoneyabroad.好的税制既能为政府有效地筹集收入，又不会对纳税人的经济决策产生负面影响，不会阻碍资源配置到世界任何可获得最高回报率的地方。资本输出中性是建立在实现全球经济效率基础上的。2.

CapitalImportNeutrality:thetaxburdenonaMNCsubsidiaryshouldbethesameregardlessofwhereintheworldtheMNCisincorporated（子公司的税负不因母公司所在地的不同而有所区别）.

无论跨国公司属于哪个国家，东道国对该跨国公司的分公司所征收的税收应该一视同仁且应与本国企业相同。3.

NationalNeutrality:taxableincomeistaxedinthesamemannerbythetaxpayer’snationaltaxauthoritiesregardlessofwhereintheworlditisearned.不论应税所得是在世界哪个国家挣的，各国税收当局都应以同样的方式征税。TaxEquityTaxEquity:regardlessofthecountryinwhichanaffiliateofaMNCearnstaxableincome（无论跨国公司的分公司从哪个国家取得的应税所得）,thesametaxrateandtaxduedateshouldapply（适用相同的税率和纳税日期）.例如，跨国公司的国外分公司所赚到的1美元与国内分公司所赚到的1美元应按相同的规则纳税。Theprincipaloftaxequityisdifficulttoapply;theorganizationalformoftheMNCcanaffectthetimingofthetaxliability.TypesofTaxationIncomeTaxWithholdingTaxValue-AddedTaxIncomeTaxAnincometaxisataxonpersonalandcorporateincome.Manycountriesintheworldobtainasignificantportion（很大一部分）oftheirtaxrevenuefromincometaxes.Anincometaxisadirecttax,thatisonethatispaiddirectlybythetaxpayeruponwhomitislevied（被征收）.CorporatePercentageIncomeTaxRatesinSelectedCountriesCorporatePercentageIncomeTaxRatesinSelectedCountriesWithholdingTaxWithholdingtaxesarewithheld（扣缴）

fromthepaymentsacorporationmakestothetaxpayer.Thetaxesareleviedonpassiveincomeearnedbyanindividualorcorporationofonecountrywithinthetaxjurisdiction（税收管辖权）

ofanothercountry.Passiveincomeincludesinterestincomeanddividends,incomefromroyalties（特许权收入）,patents,orcopyrights.Awithholdingtaxisanindirecttax.U.S.TaxTreatyPercentageWithholdingTaxRates

withSelected

CountriesU.S.TaxTreatyPercentageWithholdingTaxRates

withSelected

CountriesU.S.TaxTreatyPercentageWithholdingTaxRates

withSelected

CountriesValue-AddedTaxAvalue-addedtaxisanindirecttaxleviedonthevalueaddedinproductionofagoodorservice.InmanyEuropeanandLatinAmericancountriesthevalue-addedtaxhasbecomeamajorsourceoftaxationonprivatecitizens.Manyeconomistspreferavalue-addedtaxtoanincometaxbecausetheincentiveeffectsofthetwotaxesdiffersharply.Value-AddedTaxAnincometaxhastheincentiveeffectofdiscouragingwork.Avalue-addedtaxhastheincentiveeffectofdiscouragingconsumption(therebyencouragingsaving).Value-addedtaxiseasiertoadministeraswell.Whiletaxpayershaveanincentivetohidetheirincome,producershaveanincentivetomakesurethattheirupstreamsuppliersintheproductionprocessdeclarethevalueadded(andpaythetax!).Value-AddedTaxCalculation

Inthisexle,thetaxrateis15percent.Supposethatstageoneisthesaleofrawmaterialstothemanufacturer;stagetwoisthesaleoffinishedgoodstoaretailer;stagethreeisthesaleofinventoryfromtheretailertotheconsumer.

ProductionStageSellingPriceValueAddedIncrementalVAT1€100€1002€300€2003€380€80

TotalVAT=€100.15=€200.15=€80.15=€380.15€15€30€12€57OtherTypesofTaxationAwealthtaxisataxleviednotonincomebutonthewealthofataxpayer.Propertytaxesareanexle.Apolltax（人头税，投票税）isataxonyourexistence.Itissocalledbecauseitwascollectedfromthosewhowishedtovote.TheNationalTaxEnvironmentsWorldwideTaxation（全球性税制）TerritorialTaxation（地区性税制）ForeignTaxCredits（国外税收抵扣）WorldwideTaxationTaxnationalresidentsofthecountryontheirworldwideincomenomatterinwhichcountryitwasearned.TerritorialTaxationTerritorialtaxationtax（征税，这里是动词）

residentsbaseduponwherethetaxableeventoccurred.ForeignTaxCredits

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。Allowstaxpayerstorecoversomewhatfromdoubletaxation.Directforeigntaxcreditsarecomputedfordirecttaxespaidonactiveforeign-sourceincomeofaforeignbranchofaU.S.MNCoronwithholdingtaxeswithheldfrompassiveincome.Indirectforeigntaxcreditsareforincometaxespaidbythesubsidiary.ExlesofCalculatingU.S.ForeignTaxCreditsforSubsidiaryOperationsOrganizationalStructuresforReducingTaxLiabilitiesBranch&SubsidiaryIncome（分公司及子公司的收入）PaymentstoandfromForeignAffiliatesTaxHavensControlledForeignCorporationForeignSalesCorporationBranch&SubsidiaryIncomeAnoverseasaffiliateofaU.S.MNCcanbeorganizedasabranch（分公司）

orasubsidiary（子公司）.Aforeignbranchisnotanindependentlyincorporated（独立成立的）

firmseparatefromtheparent.Branchincomepassesdirectlytotheparent’sincomestatements.AforeignsubsidiaryisanaffiliateorganizationoftheMNCthatisindependentlyincorporated.IncomemaynotbetaxedintheU.S.untilitisrepatriated（被返回）,undercertaincircumstances.PaymentstoandfromForeignAffiliatesHavingforeignaffiliatesofferstransferpricetaxarbitragestrategies.Thetransferpriceistheaccountingvalueassignedtoagoodorserviceasitistransferredfromoneaffiliatetoanother.Ifonecountryhashightaxes,don’trecognizeincomethere—havethoseaffiliatespayhightransferprices.Ifonecountryhaslowtaxes,recognizeincomethere—havethoseaffiliatespaylowtransferprices.TaxHavens

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。Taxhavensarecountrieswithlowcorporateincometaxratesandlowwithholdingtaxratesonpassiveincome.TaxhavenswereonceusefulaslocationsforaMNCtoestablishashellcompany.TheTaxReformActof1986greatlydiminishedtheneedforandabilityofU.S.corporationstoprofitfromtheuseoftaxhavens.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。中国对外投资主要目的地ControlledForeignCorporation

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。TheTaxReformActof1986createdanewtypeofforeignsubsidiary:thecontrolledforeigncorporation.AcontrolledforeigncorporationisaforeignsubsidiarythathasoverhalfofitsvotingstockheldbyU.S.shareholders—eveniftheseshareholdersareunaffiliated（即使这些美国股东间彼此独立）.ControlledForeignCorporationTheundistributedincomeofaminorityforeignsubsidiaryofaU.S.MNCistaxdeferreduntilitisremitted（寄回）

viaadividend.Thisisnotthecasewithacontrolledforeigncorporation—thetaxtreatmentismuchlessfavorable.Theresultisthatforeigntaxcredits（税收抵免）

areunlikelytobecompletelyused.

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。TransferPricing&RelatedIssuesTheTransferPriceisthepricethatforaccountingpurposes,isassignedtogoodsandservicesflowingfromonedivisionofafirmtoanotherdivision.Controversialevenforadomesticfirm.Considertheexleofafirmthathasonedivisionthatmillslumber（加工木材）andanotherthatmakesfurniture.Thetransferpriceofthelumberisapoliticalaswellaseconomicandaccountingissue.TransferPricing&RelatedIssuesForMNC,thereexiststheaddedcomplicationsof:Differencesintaxrates.Importdutiesandquotas.Exchangeraterestrictionsonthepartofthehostcountry.Mostcountrieshaveregulationscontrollingtransferpricing.IntheU.S.,thetaxcoderequirestransferpricestobearmslengthprices（公平价格，独立企业间的交易价格）.ArmsLengthPriceApricethatawillingsellerwouldchargeawillingunrelatedbuyer.TheIRSprescribesthreemethodsforestimatinganarmslengthpriceComparableuncontrolledprice.Resaleprice:thepriceatwhichthegoodisresoldbytheaffiliateisreducedbyoverhead（经常性费用）

andprofit.Cost-plusapproach:anappropriateprofitisaddedtothecostofthemanufacturingaffiliate.

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。EXHIBIT21.5LowversusHighTransferPricingStrategybetweenMintelAffiliateswiththeSameIncomeTaxRateEXHIBIT21.6LowversusHighTransferPricingStrategybetweenMintelAffiliateswithDifferentialIncomeTaxRatesEXHIBIT21.7LowversusHighTransferPricingStrategybetweenMintelAffiliateswithDifferentialIncomeTaxRatesanda5PercentImportDutyEXHIBIT21.8LowversusHighTransferPricingStrategyforMintelwithLowTransferPriceandAdditionalRoyaltyChargewithDifferentialIncomeTaxRatesAdvancePricingAgreement

（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