地域性特殊优势之“市场溢价”理论透视：由来、定位、实践与未来趋向

Panorama of the Market Premium within the Theory of Location Specific Advantages: Origin,Position,Practice and Trends

作为处于经济结构转型期的中国,其最新衍生出的地域性特殊优势因素下的市场溢价理论,对于BEPS计划及其传统转让定价规则的本土适用具有重要意义。一方面,因特殊的市场供求关系产生的市场溢价理论,在置于整个中国经济社会特殊发展历史记忆与主体诉求中加以考量,具有历时性;另一方面,将市场溢价视为可比因素,明晰税收与实质经济活动和价值创造相匹配的理念,用市场发展和市场转移理论呼唤国际税收规则的理性回归,具备可行性。继而,综合适用BEPS一揽子计划、系统优化征管制度并提升软实力,是当前解决市场溢价问题的重要基础;而在"一带一路"背景下以"税基重构与利润分享"理念升级BEPS方略,或将成为中国乃至全球国际税收发展的理想方向。

As China has been in the phrase of economic transition,the market premium theory which derives from the location specific advantages has great significance to the Base Erosion and Profit Shifting（ BEPS） plan and the application of traditional transfer pricing rules. On the one hand,based on the special market supply-demand relationship,and by vividly evaluating the particular experience of the economic and social developments in China,the market premium theory has its own truth in this special historical interpretation. On the other hand,by positioning the market premium as a comparable factor in support of the rationale of aligning tax with real economic activity and value creation,it is plausible to induce the rationale return of the international taxation rules against the theory of market development and market transfer. Hence,the overall application of the BEPS plan and the substantial promotion of the soft power in the international tax administration should constitute the important base for materializing the practice of the market premium theory;whereas the replacing and upgrading of the rationale in the BEPS Strategy by the concept of Base Election and Profit Sharing（ BEPS 2） in ＂the Belt and Road＂strategy,shall dictate the ideal future direction for the development of the market premium theory in China and even the whole world.