财税与公共管理学院知识库

破产重整是企业经营中的一个特殊状态，是指企业在资不抵债的情况下已经达到了破产的条件，但是企业仍然拥有优质资产、发展前景良好的业务或者其他重整价值，考虑到该企业继续经营的价值远大于破产清算，所以允许企业先进行破产重整。在破产重整实践中，由于企业的现实情况千差万别，所以个性化的破产重整方案较多，值得进一步研究。

文章首先对我国破产重整政策进行理论分析，基于理论层面从破产重整的制度、经济活动的可税性等方面对我国破产重整的相关内容进行分析，研究得出：破产重整业务从经济、法律以及征管三个方面来看均具有可税性。但是，当前我国破产重整相关的税收法律法规还存在内容分散、效力较弱、范围较小的特点。文章选择对海航集团的破产重整案例分析发现，海航集团在破产重整之前财务状况显著恶化，资金链断裂，已经达到了破产的相关条件，但是海航集团作为我国第四大民营航空集团，其剩余优质资产依然雄厚，主营业务营运价值优良，从社会和经济等多方面来看，海航集团的破产重整均是利大于弊。在对其破产重整计划及相关信息进行分析，通过对我国破产重整相关制度的现实应用，结合税收和法律相关知识，以海航集团破产重整中的“内部股东权益调整、战略投资者进入、各类债务清偿”为主线，进行涉税问题分析发现：首先，《中华人民共和国企业破产法》已经相对滞后，无法应对当前破产领域的实践，应当及时进行相关内容的修订；其次，我国税收法律法规一直以来对于破产领域的重视不足，要对破产重整方面的税收规制进行体系化梳理和全面化完善；最后，税法与破产法之间的冲突需要尽快弥合，从而顺畅税法与破产法之间的衔接。

文章最后从破产重整投资人股权收购直接适用于特殊性税务处理、债权人接受股票受偿时税收制度应当有利于债权人、建立破产信托财产转让税收豁免制度、增加个人债权的个人所得税前损失列支、完善企业纳税信用修复制度以及扩充吸纳税务师进入破产重整管理人团队等方面，对优化我国破产重整的税收制度提出了相关对策建议。

Corporate restructuring in bankruptcy is a special state in business operations, referring to a situation where a company has reached the conditions for bankruptcy due to insolvency, but still possesses high-quality assets, promising business prospects, or other values worthy of restructuring. Considering that the value of continuing the company's operations far exceeds that of liquidation bankruptcy, the company is allowed to undergo bankruptcy restructuring. In practice, due to the vast differences in the actual situations of companies, there are numerous personalized bankruptcy restructuring plans, warranting further study.

The article begins with a theoretical analysis of China's bankruptcy restructuring policy. Analyzing the system of bankruptcy restructuring and the taxability of economic activities, the study concludes that bankruptcy restructuring is taxable from economic, legal, and administrative perspectives. However, the current tax laws and regulations related to bankruptcy restructuring in China are characterized by scattered content, weak effectiveness, and a limited scope. The article selects the bankruptcy restructuring case of HNA Group for analysis and finds that before bankruptcy restructuring, HNA Group's financial situation significantly deteriorated, with a broken capital chain, meeting the relevant conditions for bankruptcy. However, as China's fourth-largest private aviation group, HNA Group still possesses substantial remaining high-quality assets, and its main business operations have excellent value. From social and economic perspectives, the benefits of HNA Group's bankruptcy restructuring outweigh the drawbacks. Analyzing its restructuring plan and related information, and applying China's bankruptcy restructuring system in practice, combined with tax and legal knowledge, the article focuses on "internal equity adjustment, entry of strategic investors, and various debt repayments" in HNA Group's bankruptcy restructuring for tax issue analysis. The findings suggest: Firstly, the "Enterprise Bankruptcy Law of the People's Republic of China" is relatively outdated and unable to address current bankruptcy practices, requiring timely revisions. Secondly, China's tax laws and regulations have historically not given enough attention to the bankruptcy field, necessitating a systematic review and comprehensive improvement of tax regulations in bankruptcy restructuring. Lastly, conflicts between tax laws and bankruptcy laws need to be resolved promptly to facilitate a smooth connection between them.

Finally, the article proposes countermeasures and suggestions to optimize China's bankruptcy restructuring tax system, including: directly applying special tax treatments to equity acquisitions by bankruptcy restructuring investors, ensuring tax policies favor creditors when accepting stock as compensation, establishing a tax exemption system for bankruptcy trust property transfers, increasing the deduction of personal income tax losses for individual claims, improving the corporate tax credit repair system, and expanding the inclusion of tax professionals in bankruptcy restructuring management teams.