母国税制对东道国税收优惠政策的影响——基于美国对华直接投资的研究

Influence of Home Country's Foreign Tax System on Host Country's Preferential Tax Policy:A Research Based on America's FDI in China

国际直接投资研究领域,人们普遍认为,当母国对来源于外国的所得实行抵免制以避免国际重复课税时,东道国对外资企业的税收优惠往往转化为母国政府的财政收入,母国的投资者无法获得东道国给予的税收优惠。针对该观点,文章比较了1990～2004年实行抵免制的美国及实行豁免制和饶让抵免制的其它西方发达国家在华直接投资,未发现美国与其它西方发达国家在华直接投资的积极性存在显著差异。由于美国对该国投资者给予税收递延,使得投资者依然能够获得东道国的税收优惠,美国实行的抵免制并未阻碍该国投资者在华投资热情。该结论对预测内外资企业所得税合并对外资流入的影响具有重要的现实意义。

In the research field of FDI, a common opinion is that the host country＇s tax incentives are of no effect due to the home country＇s foreign-tax-credit system. To test this opinion, this paper compares FDI from America which takes tax credit for foreign incomes,and other Western countries which take tax sparing credit for foreign incomes.But we do not find out dramatic differences between America and other western countries＇ FDI in China.The reason is that America＇s investors can use tax deferral to avoid tax obligation and acquire China＇s tax incentives.This conclusion is significant to forecast the influence of two sets of corporate tax systems＇ incorporation on FDI.