跨国公司的税收筹划【外文翻译】Word文档格式.docx

跨国公司的税收筹划【外文翻译】Word文档格式.docx

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AFrameworkforInternational 

TaxPlanningforManagers

Creatingabalancebetweenminimizingalloftheapplicabletaxessubject 

toadditionalconstraintsrequiresataxplanningframeworkwhichrecognizes 

thecoordinationoflegalmethodstominimizetaxes.LeitchandBarrett（1992） 

assertthatamultinationalfirmexiststoexploitavarietyofadvantageswhich 

occurduetodifferentialsinownership,location,andinternationalizationfactors 

acrosscountryboundaries.Thesesamesortsofadvantagescanbeconsidered 

relatedtotaxminimization.Themultinationalmanagerinthehypotheticalfirm 

ofGlobalCo.mustconsidertaxplanningstrategiessubjecttodifferencesin:

（1） 

jurisdiction;

（2）timeperiods;

（3）entities;

（4）contractualforms;

and（5）activities.

Jurisdiction

Inaregulatorysense,taxationexiststoaccomplishavarietyofsocietal 

objectives.Consequently,theseobjectivesaremanifestedindifferingtaxrates 

andschemesamongnations.Somenationsofferataxholidaytocorporateentities 

tostimulatelocalinvestmentandemployment,whileothersoffernoincentives. 

Similarly,allowableexclusionsanddeductionsusedindeterminingtaxable 

incomemaydifferamongcountries.GlobalCo.mustconsideralloftheseelements 

whenselectingcountriesforoperations.Themultinationalfirmisinaposition 

toexploitthesedifferencestolegallyavoidtaxesandminimizetheoveralltax 

burden.Complicationsarisewhenmanagersmaketaxpolicydecisionsinisolation 

fromtheoverallbusinessneedsofthefirm.Theoptimalstrategyincludes 

internationaltaxpolicyinconjunctionwithbusinessstrategy.’IfGlobalCo. 

selectscountriesforoperatingactivitiessolelyfortaxconsiderations,thenthe 

firmmayfailtoderivethemaximumbenefitfromamultinationalstrategywhich 

seekstoexploitavarietyofadvantages.

TimePeriods

Sincethemultinationalfirmoftenproducesgoodsorservicesinavarietyof 

placesoverdifferenteconomiccycles,therearechoicesavailablewhichallowthe 

firmtodeferpaymentoftaxorrecognitionoftaxableincome.Theobjectiveof 

thissortofplanningistoallowincometobetaxedatthelowestpossiblerate.For 

example,GlobalCo.mightvaryproductionschedulesatlocationsindifferent 

countriestotakeadvantageofdifferingtaxrates. 

Thecross-jurisdictionaldifferencesineffectivetaxratesforamultinational 

enterprisemaychangeovertime.Duringlowpointsinabusinesscycle,anentity 

inonecountrymayhavenetoperatinglosseswhichresultinanetincometaxrate 

ofzero.Ifthatentityisunabletoimmediatelyapplythenetoperatinglosses,then 

theparentfirm’sstrategymightbetoshiftincomeintothatcountrytotakeadvantage 

ofthenetoperatinglosses.Theparentcouldshiftincomebyraisingthetransfer 

pricespaidonproductsfromthatcountry,orbyreducingtheroyaltypayments 

thatthesubsidiary.paystootherentities.Acceleratingrecognitionoftaxable 

incomecouldalsobeadvantageousifafirmexpectsfavorabletaxincentiveswill 

beexpiringinthenextyear. 

Duringhighpointsinabusinesscycle,themultinationalenterprisecould 

attempttodeferrecognizingincomeinhigh-taxcountries.Forexample,installment 

salescontractscouldbewrittentodeferincomerecognitiontofutureperiods. 

Thesalescontractcouldberevisedtolowerthepriceoninitialpurchases, 

andincreasethepriceonfuturemaintenanceandupgrades.Theycouldaccelerate 

expenserecognitionbyperformingmorecurrentlydeductiblemaintenancethan 

constructingfacilitiesthatmustbedepreciatedoverlongtimeperiods.

ChoiceofEntity

Themultinationalmayselectavarietyoforganizationalformswithwhichto 

conducttransactionswithdistributedunitsinothercountries.Thischoicehas 

legalaswellastaximplicationsforthecombinedentity.Ifforeignunitsareorganized 

assubsidiaries,theparentmaybeallowedtodeferrecognitionofincome 

fromthesubsidiaryuntildividendsaredistributedtotheparent.Organizingunits 

asbrancheswillresultintheinclusionofallbranchincomeintheworldwide 

incomeoftheparent.Insomecountries,theparentmayelecttoformpartnerships 

whereanyincomeorlosswillflowdirectlythroughtothepartnerswithouttaxing 

theforeignentity.Ahybridentityalsomaybeformedwhichresultsinonejurisdiction 

taxingtheunitasapartnershipandanotherasacorporation.Thesechoices 

willaffectGlobalCo.incharacterizingtheincomereceivedintheventureas 

active,passive,ortriggeringcapitalgains.Eachresultyieldsdifferingtaxeffects. 

Inanyevent,thechoiceofentityfromataxplanningperspectivemustbe 

balancedwiththeneedsofthefirmoverall.Taxregulationsareratherfluid,and 

themultinationalmustbepreparedtofacechangingsituationsovertime.More 

importantly,itmaybedifficulttochangetheorganizationalform