主权财富基金投资所得的税收处理与国际协调

Taxation and International Coordination of Capital Gain of Sovereign Wealth Funds

主权财富基金的兴起是2007年以来国际金融领域的重要事件之一,至今方兴未艾,也在国际税法领域引发了是否应当以及如何对这种政府性投资机构在东道国的投资所得课税问题的争论。目前,主权财富基金多被视为与政府所有或控制的机构而获得单边豁免、相互豁免或视同私人投资者等三种税收处理方式。从全球金融市场的稳健和可持续发展考虑,应当基于欧盟《利息税指令》的模式,在全球范围内建立主权财富基金税收信息共享机制。

The emergence of Sovereign Wealth Funds（SWF） and their investment sparked the debate on whether their capital gain derived from the host countries should be taxed in the area of international taxation.Currently,being considered as government-owned-or controlled-agencies,the SWF has been unilaterally immunized,or reciprocally immunized or treated like a foreign private investor.The proposal is put forth that the EU Interest Rate Directive-based model should be followed to establish worldwide sharing and exchange system of the SWF＇ tax information to advance the sound and sustainable development of global finance.