中交建集团借壳上市的涉税风险研究

作者	潘亚琴
姓名汉语拼音	Pan, Yaqin
学号	2021000004019
培养单位	兰州财经大学
电话	18893487667
电子邮件	1476809145@qq.com
入学年份	2021-9
学位类别	专业硕士
培养级别	硕士研究生
一级学科名称	税务
学科代码	0253
授予学位	税务硕士
第一导师姓名	李永海
第一导师姓名汉语拼音	Li, Yonghai
第一导师单位	兰州财经大学
第一导师职称	副教授
第二导师姓名	姜新录
第二导师姓名汉语拼音	Jiang, Xinlu
第二导师单位	兰州市税务局
第二导师职称	税务干部
题名	中交建集团借壳上市的涉税风险研究
英文题名	Study on tax-related risks of backdoor listing of China Communications Construction Group
关键词	企业重组借壳上市涉税风险
外文关键词	Enterprise reorganization ; Backdoor listing ; Tax risk
摘要	企业重组是对企业的各生产要素进行重新配置，调整优化经济结构，使企业在市场竞争中保持优势的资本操作方式。2020 年 10 月国务院发布的《关于进一步提高上市公司质量的意见》和党的二十大报告中指出要推动国有企业改革和兼并重组，做大做强国有企业。伴随着我国经济社会发展不断向好，企业的营商环境也越来越稳定，大部分企业开始追求更高质量的发展，不断扩大生产规模，积极研发新技术，开拓新市场。为了更好地满足发展的资金需求，企业通常会进行融资上市。借壳上市优势突出，能够减少上市审批时间，降低上市的等待成本，成为多数企业的选择。然而许多企业并没有统筹考虑借壳上市的整体效应，只是将注意力放在财务状况、资金融通方面，忽视上市过程中出现的税收问题，使企业面临涉税风险。因此，企业在选择借壳上市模式时，需要系统性、多角度考虑其中所涉及到的税收问题，做好统筹规划。本文选取中国交通建设集团借壳祁连山水泥集团上市的案例，首先解释了借壳上市的概念、借壳上市的动因、借壳的步骤以及企业涉税风险的概念特征，对企业借壳上市中涉及的可税性理论、税收公平理论以及协同效应理论进行了分析，为后续的案例研究提供理论基础。接着归纳梳理了企业借壳上市中所涉及到的税收政策，为后期的案例分析提供政策依据。在理论和政策的支撑下，对交易全过程进行了涉税分析，分别分析了交易双方在借壳过程中的涉税风险，包括重大资产置换（净壳）的涉税风险、发行股份购买资产（入壳）的涉税风险以及募集配套资金的涉税风险。接着分析了交易中存在的涉税风险点，包括计税基础确定的风险、适用特殊性税务处理的风险以及分步交易存在的风险。同时对借壳上市后的涉税风险进行了整合，包括不再适用特殊性税务处理的风险和借壳上市后补充材料的风险。最后，根据案例中出现的涉税风险提出了防范对策，包括增强税务风险识别能力、谨慎选择优质壳资源、合理规划置换资产公允价值以及保持业绩稳定增长。以期为其他拟借壳上市企业处理涉税风险、强化涉税风险管理提供参考。
英文摘要	Enterprise reorganization is a capital operation mode that reconfigures the production factors of the enterprise, adjusts and optimizes the economic structure, and keeps the advantage in the market competition. In October 2020, the "Opinions on Further Improving the Quality of Listed Companies" issued by The State Council and the report of the Party's 20th National Congress pointed out that it is necessary to promote the reform and merger and reorganization of state-owned enterprises, and make state-owned enterprises bigger and stronger. With the continuous improvement of China's economic and social development, the business environment of enterprises is becoming more and more stable, and most enterprises have begun to pursue higher quality development, constantly expand the scale of production, actively develop new technologies, and open up new markets. In order to better meet the capital needs of development, enterprises usually carry out financing listing. Backdoor listing has outstanding advantages, which can reduce the listing approval time and reduce the waiting cost of listing, and become the choice of most enterprises. However, many enterprises do not consider the overall effect of backdoor listing, but only pay attention to the financial situation and financing, ignoring the tax problems in the listing process, so that enterprises are faced with tax-related risks. Therefore, when enterprises choose the backdoor listing model, they need to systematically and multi-dimensionally consider the tax issues involved and make overall planning. This paper selected the case of China Communications Construction Group backdoor listing Qilianshan Cement Group, first explained the concept of backdoor listing, the motivation of backdoor listing, the steps of backdoor listing and the conceptual characteristics of enterprises' tax-related risks, analyzed the taxability theory, tax fairness theory and synergy theory involved in the backdoor listing of enterprises, and provided a theoretical basis for the subsequent case study. Then it summarizes and sorts out the tax policies involved in the backdoor listing of enterprises to provide policy basis for the later case analysis. With the support of theory and policy, the whole process of the transaction is analyzed, and the tax risks of both parties in the backdoor process are analyzed respectively, including the tax risks of major asset replacement (net shell), the tax risks of issuing shares to purchase assets (shell) and the tax risks of raising supporting funds. Then it analyzes the tax-related risk points in the transaction, including the risk determined by the tax basis, the risk of applying special tax treatment and the risk existing in the multi-step transaction. At the same time, the tax-related risks after backdoor listing are integrated, including the risk that special tax treatment is no longer applicable and the risk of supplementary materials after backdoor listing. Finally, according to the tax-related risks in the case, preventive measures are proposed, including enhancing the ability to identify tax risks, prudently selecting high-quality shell resources, rationally planning the fair value of replacement assets and maintaining stable growth of performance. It is expected to provide reference for other listed companies to deal with tax-related risks and strengthen tax-related risk management.
学位类型	硕士
答辩日期	2024-05-26
学位授予地点	甘肃省兰州市
研究方向	财税理论与政策研究
语种	中文
论文总页数	52
参考文献总数	63
馆藏号	0005709
保密级别	公开
中图分类号	F810.4/70
文献类型	学位论文
条目标识符	http://ir.lzufe.edu.cn/handle/39EH0E1M/36381
专题	财税与公共管理学院
推荐引用方式 GB/T 7714	潘亚琴. 中交建集团借壳上市的涉税风险研究[D]. 甘肃省兰州市. 兰州财经大学,2024.

条目包含的文件		下载所有文件
文件名称/大小	文献类型	版本类型	开放类型	使用许可
2021000004019.pdf（1180KB）	学位论文		开放获取	CC BY-NC-SA	浏览下载