创业投资与资本利得税政策设计

Policy Design of Capital Gains Tax on Venture Capital

分析国际上促进创业投资发展的资本利得税政策设计及绩效,一个良好的资本利得税政策设计必然促进创业投资的发展。而中国如何发展由成熟市场经济制度孕育出创业投资这种创新的金融工具,更是当务之急。目前政府创新扶持政策失效的背景下,资本利得税政策设计是启动中国创业投资发展,进而提升中国经济的增长性和竞争力的突破口。

The paper analyses the international policy design and performance of the capital gains tax (CGT) on venture capital.A welldesigned CGT on venture capital can promote the development of venture capital. It is necessary for China to develop the financial tool from mature market economic system. In the situation of China's disabled creativitysupport polices, the policy design of CGT on venture capital, which can maintain the sustainable growth and upgrade the competitiveness of Chinese economics, is a breakthrough in the development of China's venture capital industry.