契约型私募基金的税务处理

Tax Treatment of Contractual Private Equity Fund

"契约型私募基金"是资本市场中广泛存在的一种投资模式,对契约型私募基金应如何征税,是一个存在争议的问题。本文从分析契约型私募基金资本募集、投资运作、收益分配过程中的法律关系入手,得出契约型私募基金运作过程中存在"两种应税行为、两个纳税主体"的结论。

Contractual private equity fund serves as a widespread investment mode in capital market, but how to tax it has become a controversial issue.This paper analyzes legal relations of contractual private equity fund in capital raising, investment operations, income distribution, and finally draws a conclusion that the operation of contractual private equity fund involves ＂two taxable acts and two taxable subjects＂.