基础设施公募REITs“单、双SPV结构”的税负比较研究

Comparative Study on the Tax Burden of “Single & Double SPV Structure” for Public Infrastructure REITs

基础设施公募REITs是盘活存量基础设施资产的重要方式,其中税负是直接影响REITs产品收益率的重要因素之一。针对我国仍处于基础设施公募REITs的起步阶段、尚未形成完善有针对性的相关税收法律制度的现状,深入研究了基础设施公募REITs单SPV结构和双SPV结构下的税负差异,并结合国外基础设施公募REITs的税收优惠经验做法,提出了优化国内基础设施公募REITs税制改革的建议措施。

Public Infrastructure REITs is an important way to revitalize existing infrastructure assets.Tax burden is one of the important factors that directly affect the yield of REITs products.China is still in the initial stage of Infrastructure Public REITs,and the relevant tax law system has not been formed and perfected.This paper has studied in depththedifference of tax burden between“Single SPV structure”and“Double SPV structure”,and puts forward some suggestions to optimize the tax reform of Domestic Public Infrastructure REITs based on the experience of foreign REITs in tax incentives.