美国税制改革方向:基于消费地的现金流量税

The American Tax Reform Approach:A Destination-Based Cash-Flow Tax System

本文全面总结和分析了美国共和党政纲"更好的道路"(A Better Way)中提出的税制改革方案,对使用"基于消费地的现金流量税"(Destination-Based Cash-Flow Tax,DBCFT)代替联邦企业所得税改革方案的性质、可能性及影响进行了研究。认为,方案允许固定资产和无形资产投资在当期全额税前扣除(而非折旧抵税)、基于消费地实行"边境调整"(Border Adjustments)等,将对美国的企业投资和商品出口产生促进作用,同时也会对美国的财政收入和国际税收关系带来潜在挑战。此外,本文还对美国税制改革可能对世界经济和我国投资与税收形势产生的影响进行了展望和剖析,提出我国的应对措施。

This paper provides a comprehensive summary and analysis for the Tax Reform blueprint proposed by the US Republican Party which constitutes part of A Better Wa3~ the Republican policy paper. In research of the proposal to substitute the current US Federal corporate income tax system with a destination-based cash-flow tax system, the paper concludes that the blueprint, which introduces measures such as full and immediate write-off of business investments, and destination-based border adjustments, would create positive incentives for US domestic business investment and export of goods, while could possibly damage US tax revenue and create tension within international taxation arrangements. Moreover, the paper provides an insight for the possible influence the proposed tax reform might have on world economy and Chinese investment and taxation, and explores the potential counter-measures that might be adopted in China.