我国房地产投资信托的税法困境与改善建议

发布时间：2018-03-19 02:16

本文选题：房地产投资信托　切入点：信托导管理论　出处：《上海交通大学》2013年硕士论文　论文类型：学位论文

【摘要】：房地产投资信托（REITs）是国际社会普遍认可的行之有效的房地产投融资工具。美国是房地产投资信托发展最前沿的国家，这与其每次税制改革的推动有极其密切的关系。我国的房地产投资信托从2002年开始初露端倪，密集发行则在2010年及2011年上半年，目前，由四川信托发布的《复星豫园商旅文基金股权投资1期集合资金信托计划》因其逾20%的预期回报率引起了各方关注。与美国相比，我国房地产投资信托税制存在诸多问题——总体税负较重、重复征税、传统课税要件的非适应性等等，所以建立起能够鼓励房地产投资信托发展的税制显得尤其重要。美国“修正式的导管理论”、“形式转移不课税”、“实质课税”、“有条件的税收优惠”等理念很好地解决了信托公司与投资者之间就信托收益产生的双重纳税窘境，减轻了各方主体的税收负担，为房地产投资信托的发展提供了良好的税法环境。我国应当在吸收美国相关税制的基础上，结合我国房地产投资信托的现实发展模式，参考现有的证券投资基金的税法规定，对营业税、所得税、印花税、契税、房产税、土地增值税等不同税种在房地产投资信托的不同环节做出避免重复征税的规定。
[Abstract]:Real estate investment trust (REITs) is an effective real estate investment and financing tool universally recognized by the international community. The United States is the most advanced country in the development of real estate investment trusts. This is closely related to the promotion of each tax system reform. Real estate investment trusts in our country began to emerge on 2002, and intensive issuance took place in 2010 and the first half of 2011. The "Fosun Yuyuan Business Travel and Culture Fund Equity Investment 1 Collective Fund Trust Plan", published by Sichuan Trust, has attracted attention because of its expected return of more than 20%. Compared with the United States, There are many problems in the tax system of real estate investment trust in China, such as heavy overall tax burden, repeated taxation, non-adaptability of traditional tax elements, etc. Therefore, it is particularly important to establish a tax system that can encourage the development of real estate investment trusts. The American concepts of "revising the formal conduit theory", "formal transfer without taxation", "real taxation", "conditional tax preference" and so on are well solved. The double tax dilemma between the trust company and the investors on trust income, It lightens the tax burden of all parties and provides a good tax environment for the development of real estate investment trust. China should integrate the real estate investment trust development model of our country on the basis of absorbing the relevant tax system in the United States. Referring to the existing tax laws of securities investment funds, different taxes, such as business tax, income tax, stamp duty, deed tax, real estate tax, land value-added tax, etc., are stipulated to avoid double taxation in different links of real estate investment trust.
【学位授予单位】：上海交通大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：D922.282;D922.22

【参考文献】