中国资本弱化规则存疑

Thin Capitalization Rule in China:Questions and Solutions

中国资本弱化规则需加以完善:应及时消除因实施资本弱化规则而导致的重复征税;修改《通知》第2条的规定,以'税率'标准代替'税负'标准;明确财税[2008]121号文件与《企业所得税法实施条例》第37、38条的关系;将小型微利企业和小额利息支付排除在资本弱化规则之外;从长远来看,还应适时调整债权投资和股权投资的固定比例。

The thin capitalization rule in China need to be modified.Double taxation should be avoided.The"tax rate"standard should replace the"tax burden"standard in Article 2 of"Caishui[2008]121".The relationship between"Caishui[2008]121"and Article 37&38 of the Rules for the Implementation of the Income Tax Law on Enterprises should be clarified.The small and medium sized companies and de minimus interest payment should be exempted.In the long run,the fixed debt/equity ratio should also be adjusted in time.