本文選題：信托業(yè) + 信托稅制　； 參考：《西南財經(jīng)大學(xué)》2013年碩士論文

【摘要】：我國信托業(yè)經(jīng)過不斷發(fā)展,已成為金融市場的重要組成部分。其聚集資金、規(guī)避和分散風(fēng)險的優(yōu)良特性使其在促進(jìn)社會投資方面作用明顯,從而有效推動國民經(jīng)濟的整體發(fā)展。稅收負(fù)擔(dān)作為影響企業(yè)發(fā)展的重要因素,其與信托企業(yè)的發(fā)展必有所聯(lián)系。目前我國對信托稅收的研究多集中于理論研究,主要是分析信托主體間稅收負(fù)擔(dān)的關(guān)系,而單獨針對信托企業(yè)的實證研究則相對薄弱。本文從理論和實證的角度出發(fā),來驗證目前我國信托企業(yè)的實際稅收負(fù)擔(dān)以及其對信托企業(yè)經(jīng)營績效的影響。并在此基礎(chǔ)上,提出改進(jìn)信托企業(yè)稅制的政策建議,以期對我國信托企業(yè)的發(fā)展有所裨益。 在理論分析部分,本文對企業(yè)稅收負(fù)擔(dān)進(jìn)行了定義闡述,計量方法分析,以及影響因素探討。在此基礎(chǔ)之上,研究信托課稅的作用機制以及其對不同信托市場主體行為的影響。隨后,結(jié)合信托運行的三個環(huán)節(jié),對英國、日本、中國臺灣的信托稅制進(jìn)行介紹,并總結(jié)了可供我國借鑒的國外經(jīng)驗。通過理論部分的分析,我們可得出以下結(jié)論： (1)不同征稅情況下,信托企業(yè)工作積極性有所不同。其中,僅對受益人征收所得稅、僅對受托人征收營業(yè)稅,以及對受益人征收所得稅,并同時對受托人征收所得稅,營業(yè)稅時,信托企業(yè)的積極性均會降低。 (2)值得我國借鑒的國外信托稅制經(jīng)驗。主要有：①推進(jìn)營業(yè)稅向增值稅改革。增值稅僅對每個環(huán)節(jié)中增值的部分進(jìn)行課征,而營業(yè)稅則主要以營業(yè)收入為稅基進(jìn)行征收,相比之下,增值稅更為合理；②信托終止時不征收流轉(zhuǎn)稅和所得稅。多數(shù)國家認(rèn)為信托終止時,信托主體就信托財產(chǎn)的轉(zhuǎn)移或其他處分,屬回復(fù)原狀的轉(zhuǎn)移行為,僅是所有權(quán)形式上的轉(zhuǎn)移,因此不征稅；③對公益信托實行稅收優(yōu)惠。公益信托對促進(jìn)一國的公益事業(yè)有很大幫助,各國在信托稅制中均對公益信托設(shè)有稅收優(yōu)惠制度,進(jìn)行流轉(zhuǎn)稅和所得稅的減免,以促進(jìn)公益事業(yè)的發(fā)展。 在實證分析部分,本文以50家中國信托企業(yè)2003年到2010年的數(shù)據(jù)作為研究對象,運用描述性統(tǒng)計分析,考察信托企業(yè)稅負(fù)的變化趨勢,并和非信托金融行業(yè),社會服務(wù)業(yè)進(jìn)行比較分析。此外,結(jié)合上市信托企業(yè)的數(shù)據(jù),運用時間序列回歸分析,研究稅收負(fù)擔(dān)對信托企業(yè)經(jīng)營績效的影響。通過實證部分的分析,我們可得出以下結(jié)論： (1)信托企業(yè)平均實際稅率明顯高于非信托金融業(yè)和社會服務(wù)企業(yè)。其平均實際稅率在2003年到2010年呈下降趨勢,但均高于非信托金融業(yè)和社會服務(wù)企業(yè)。信托企業(yè)對稅收政策的敏感度低于非信托金融企業(yè),高于社會服務(wù)企業(yè)。 (2)稅收負(fù)擔(dān)對利潤增長和資產(chǎn)規(guī)模擴大具有反向效應(yīng),信托企業(yè)稅負(fù)的加重會降低其盈利能力和資產(chǎn)規(guī)模水平。其對信托企業(yè)凈利潤的長期影響小于短期影響,對資產(chǎn)總額的長期影響大于短期影響,因此過重的稅收負(fù)擔(dān)不利于信托企業(yè)的當(dāng)前經(jīng)營情況和未來長期發(fā)展。 在理論和實證分析的基礎(chǔ)上,本文提出了優(yōu)化我國信托企業(yè)稅制的建議。這一部分主要結(jié)論如下： (1)信托企業(yè)營業(yè)稅制優(yōu)化路徑。首先推動全國范圍內(nèi)營業(yè)稅向增值稅改革。在信托行業(yè)中實行增值稅,能從根源上解決營業(yè)稅重復(fù)征稅的問題。信托企業(yè)增值稅的稅基應(yīng)確認(rèn)為信托財產(chǎn)在受托企業(yè)經(jīng)營保管期間的增值部分,稅率定為4%左右較為合理。其次應(yīng)加大信托企業(yè)公益信托營業(yè)稅減免優(yōu)惠幅度。應(yīng)明文規(guī)定需要給予優(yōu)惠的公益信托種類和品種。減免信托企業(yè)經(jīng)營管理公益信托所獲得的信托報酬,對于由信托財產(chǎn)運營帶來的信托收益,繼續(xù)用于原信托的公益目的,則應(yīng)免征營業(yè)稅。為保障制度的全面性,對公益信托所涉及的其他稅種也應(yīng)同時實行稅收優(yōu)惠政策. (2)信托企業(yè)所得稅制的優(yōu)化路徑。首先,在信托各環(huán)節(jié)間引入稅收抵免機制。使信托主體對其在上一環(huán)節(jié)中,已繳納所得稅的部分在信托運行下一個環(huán)節(jié)可進(jìn)行抵免,最終使得信托主體僅對其取得的所得僅繳納一次所得稅。有效降低我國信托企業(yè)稅收負(fù)擔(dān)。其次應(yīng)平衡信托企業(yè)與其他金融行業(yè)所得稅優(yōu)惠。在目前我國明文規(guī)定對證券投資基金管理人運用基金買賣股票、債券的差價收入免征收企業(yè)所得稅的情況下,應(yīng)同時免征投資基金信托所得稅。從而鼓勵信托業(yè)務(wù)與其他金融業(yè)務(wù)的持續(xù)平穩(wěn)發(fā)展,以降低整體金融風(fēng)險。 本文的貢獻(xiàn)主要在于對信托企業(yè)稅收負(fù)擔(dān)進(jìn)行了實證分析,應(yīng)用統(tǒng)計分析工具和計量回歸分析工具,從計量信托企業(yè)實際稅收負(fù)擔(dān)與其對信托企業(yè)經(jīng)營績效的影響兩方面進(jìn)行深入分析,得到了有應(yīng)用價值的實證結(jié)論：(1)信托企業(yè)平均實際稅率明顯高于非信托金融業(yè)和社會服務(wù)企業(yè),信托托企業(yè)對稅收政策的敏感度低于非信托金融企業(yè),高于社會服務(wù)企業(yè)。(2)稅收負(fù)擔(dān)對信托企業(yè)利潤增長和資產(chǎn)規(guī)模擴大具有反向效應(yīng),過重的稅收負(fù)擔(dān)不利于信托企業(yè)的當(dāng)前經(jīng)營情況和未來長期發(fā)展。拓展了信托企業(yè)稅收研究的深度與廣度。
[Abstract]:After continuous development, China's trust industry has become an important part of the financial market. Its good characteristics of gathering funds, evading and dispersing risks make it more effective in promoting social investment, thus effectively promoting the overall development of the national economy. The tax burden is an important factor affecting the development of the enterprise, and it has the effect on the development of the trust enterprises. At present, the research on trust tax is mainly focused on the theoretical research, mainly analyzing the relationship between the tax burden of the trusts, while the empirical research on trust enterprises is relatively weak. This paper, from the theoretical and empirical point of view, validates the actual tax burden of our trust enterprises and their correspondence from the perspective of theory and demonstration. On the basis of this, we put forward some policy suggestions to improve the tax system of trust enterprises in order to benefit the development of trust enterprises in China.
In the part of the theoretical analysis, this paper defines the tax burden of the enterprise, analyses the method of measurement, and discusses the influencing factors. On this basis, it studies the mechanism of the trust tax and its influence on the behavior of different trust market subjects. Then, it combines the three links of the trust operation to the trust of the United Kingdom, Japan and Taiwan, China. The tax system is introduced, and the foreign experience that can be used for reference by our country is summarized. Through theoretical analysis, we can draw the following conclusions:
(1) under the circumstances of different taxes, the enthusiasm of the trust enterprises is different. Among them, only the beneficiaries are levied on the income tax, only the business tax is levied on the trustee, and the income tax on the beneficiaries is levied, and the income tax of the trustee is levied at the same time. When the business tax is used, the accumulating nature of the trust enterprises will be reduced.
(2) the experience of the foreign trust tax system worthy of our country's reference. There are: (1) promoting the reform of the business tax to the value-added tax. The value added tax is expropriated only on the value-added part of each link, while the business tax is mainly levied on the operating income tax base. In contrast, the value-added tax is more reasonable; secondly, when the trust terminates, it does not levy the circulation tax and income tax. Most countries think that when the trust is terminated, the trust subject is the transfer or other disposition of the trust property, which belongs to the transfer of the original form, only the transfer of the ownership form, so it is not taxed; (3) the tax preferential treatment is carried out for the public trust. The public trust is of great help to the promotion of the public welfare of a country, and all countries are in the trust tax system to the public. Yi trust has a preferential tax system to reduce the turnover tax and income tax so as to promote the development of public welfare undertakings.
In the empirical analysis, this paper takes the data of 50 Chinese trust enterprises from 2003 to 2010 as the research object and uses descriptive statistical analysis to investigate the change trend of the tax burden of trust enterprises and compare with the non trust financial industry and social service industry. In addition, the data of the listed trust enterprises are combined with the time series regression. By analyzing the effect of tax burden on the performance of trust enterprises, we can draw the following conclusions through empirical analysis.
(1) the average actual tax rate of trust enterprises is obviously higher than that of non trust financial industry and social service enterprise. The average actual tax rate has a downward trend from 2003 to 2010, but it is higher than that of non trust financial industry and social service enterprise. The sensitivity of trust enterprises to tax policy is lower than that of non trust financial enterprises, which is higher than that of social service enterprises.
(2) the tax burden has the reverse effect on the profit growth and the expansion of the asset scale. The aggravation of the tax burden of the trust enterprises will reduce the profitability and the scale of the assets. The long-term impact of the tax burden on the net profit of the trust enterprises is less than the short-term effect, and the long-term impact on the total assets is greater than the short-term effect, so the heavy tax burden is not conducive to the trust enterprises. The current business situation and the long-term development of the industry.
On the basis of theoretical and empirical analysis, this paper puts forward proposals to optimize the tax system of trust enterprises in China.
(1) the optimization path of the business tax system of the trust enterprise. First, promote the nationwide business tax to the VAT reform. In the trust industry, the value added tax can be applied to solve the problem of duplication of tax revenue from the root. The tax base of the trust enterprise value-added tax should be recognized as the value-added part of the trust property during the custody of the entrusted enterprise, the tax rate is set to 4% It should be more reasonable. Secondly, we should increase the range of the discount and exemption of the trust enterprise's public trust business tax. The kind and variety of the public trust trust should be given in the clear article. The trust remuneration obtained by the trust enterprise management public trust is reduced and the trust income from the trust property operation will continue to be used for the public interest list of the original trust. The business tax should be exempted. In order to ensure the comprehensiveness of the system, a tax preference policy should also be implemented at the same time for other taxes involved in charitable trust.
(2) the optimization path of the income tax system of the trust enterprise. First, the tax credit mechanism is introduced between the internodes of the trust. In the last link, the main part of the trust can be set up in the next link of the trust operation, and the trust subject will only pay only one income tax on the income obtained by the trust. The tax burden of the state trust enterprises. Secondly, we should balance the preferential income tax between the trust enterprises and other financial industries. At present, in the present state of our country, the securities investment fund manager should be exempt from the investment fund trust income tax at the same time, and the trust business should be encouraged to encourage the trust business. Continued steady development with other financial businesses to reduce overall financial risks.
The main contribution of this paper is to make an empirical analysis of the tax burden of trust enterprises, analyze the actual tax burden of the trust enterprise and its influence on the management performance of the trust enterprise by using the statistical analysis tools and measurement regression analysis tools, and get the positive conclusions of the applied value: (1) the trust enterprise is flat. The actual tax rate is obviously higher than that of non trust financial industry and social service enterprise. The sensitivity of trust enterprises to tax policy is lower than that of non trust financial enterprises, which is higher than that of social service enterprises. (2) the tax burden has a reverse effect on the profit growth of trust enterprises and the expansion of assets scale, and the excessive tax burden is not conducive to the current Confucian trust enterprises. The situation and future long term development of the business have expanded the depth and breadth of tax research on trust enterprises.

【學(xué)位授予單位】：西南財經(jīng)大學(xué)
【學(xué)位級別】：碩士
【學(xué)位授予年份】：2013
【分類號】：F812.42;F832.49

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