【作者】 李芳；

【导师】 黄炳艺；

【作者基本信息】 厦门大学 ， 工商管理（EMBA）（专业学位）， 2019， 硕士

【摘要】 随着中国金融市场、资本市场的成熟,中国私募股权基金市场发展迅速,其中有限合伙制是私募股权基金采用的最普遍形式。但不容忽视的是,在税收征管方面,有限合伙制私募股权基金基本照搬合伙企业的管理规定,不尽合理;各地为招商引资又对其出台了五花八门的财税优惠政策,这使得有限合伙制私募股权基金面临的征管环境更为复杂,在实务中易出现与现行税法不符的情况,影响投资者的积极性。本文共有七章。第一章导论主要介绍了选题背景、意义和研究思路与方法;第二章为文献综述;第三章介绍了私募股权基金的概念、组织形式及运作模式;第四章分析了有限合伙制私募股权基金涉税影响、税负现状及[2019]8号文对行业的影响;第五章通过借鉴其他国家税收政策制定的原则,结合目前纳税规定,深入挖掘现行税法的缺陷与不足,指出存在的5个问题;第六章对有限合伙制私募股权基金税收制度提出优化建议;第七章为结论。本文致力于运用税收理论,结合实务,对我国有限合伙制私募股权基金涉税现状进行梳理。在所得税方面,提出出台针对私募投资行业的统一税收制度或政策,加大税收政策统一扶持力度,不断完善激励方式,在时机成熟时开征资本利得税,明确“税收直流体”的概念,实现合伙企业的全穿透,允许跨期跨企业弥补,给予GP更多的税收优惠,针对利润回拨机制补充征退税规定等建议;在增值税方面,提出取消或减轻私募股权基金转让金融商品的增值税税负,明确浮动业绩报酬(Carry)的应税性质等建议。只有进一步完善有限合伙制私募股权基金的税收制度,达到合理税负,有限合伙制私募股权基金才能更健康、更快速的发展。更多还原

【Abstract】 With the maturity of China’s financial market and capital market,China’s private equity fund market develops rapidly,among which limited partnership is the most common form adopted by private equity fund.However,it should not be neglected that in terms of tax collection and management,the limited partnership private equity fund basically copies the management regulations of the partnership,which is not reasonable.In order to attract investment,various fiscal and tax preferential policies have been issued for the limited partnership private equity fund,which makes the tax collection and management environment more complicated for the limited partnership private equity fund.In practice,it is easy to be inconsistent with the current tax law,affecting the enthusiasm of investors.This paper consists of seven chapters.The first chapter introduces the background,significance,research ideas and methods.Chapter two is literature review.The third chapter introduces the concept,organization form and operation mode of private equity fund.The fourth chapter analyzes the tax impact of limited partnership private equity fund,the status quo of tax burden and the impact of article 8[2019]on the industry.The fifth chapter by drawing lessons from the principles of tax policy formulation in other countries,combines the current tax regulations,digging into the defects and deficiencies of the current tax law,pointing out the existence of five problems;The sixth chapter puts forward some suggestions on optimizing the tax system of Limited Partnership Private Equity Fund;Chapter seven is the conclusion.This paper is devoted to the use of tax theory,combined with practice,the limited partnership private equity fund tax-related status of the comb.In terms of income tax,is put forward for the unification of the private-equity industry tax system or policy,intensify unified tax policy support,improve incentives,capital gains tax is imposed when the time is ripe,a clear definition of the concept of "tax straight fluid",the implementation of the partnership full penetration,allowing inter-temporal across the enterprise make up,give GP more tax breaks,for profit the supplementary clawback mechanism regulation and so on;in terms of value-added tax,Suggestions are put forward such as canceling or reducing the value-added tax burden of financial commodities transferred by private equity funds,and clarifying the taxable nature of variable performance reward(Carry).Only by further perfecting the tax system of limited partnership private equity fund and achieving reasonable tax burden,can limited partnership private equity fund develop more healthily and rapidly.更多还原