Study On The Tax-Planning Problems In The Corporate Mergers And Acquisitions

M&A is an important form of capital operation, it is also a mean of corporate strategic development. With the development of economic globalization, more and more companies have chosen to achieve its strategic objectives through M&A. As an important way of regulating the economy, affecting all aspects of social and economical life, tax can't be ignored in the M&A decision-making and implemention process. Effective tax planning can reduce the cost of M&A to achieve the maximum benefit. The boom of M&A market needs the development of tax planning, by combining theory and pratice, to make our M&A behavior more rational and effective. Therefore, the option to the study on tax planning problems in our corporate M&A, focusing on the payment and the subject in mergers and acquisitions, is designed to guide companies to carry out tax planning legally and effectively in the actually M&A activities.This paper can be devided into four parts from the structural arrangement.The first part is an introduction and the theoretical basis. Corresponding to the first chapter and the second chapter, the introduction is mainly about the research background, research status and reseach ideas. And the theoretical basis mainly defines two core concepts, tax-planning and M&A, then focuses on the effective tax planning thery and revenue synergies in the M&A.The second part is the choice of tax treatment. It is devided into three cases, share acquisition, asset acquisition and enterprises merger, corresponding to the third, fourth, and fifth chapters. On the basis of analysis about tax-related matters, calculate after-tax cost and after-tax wealth, and compare them quantitively and analyse the non-tax cost qualitatively, then get the conclusion.The third part is mainl the choice of mergers and acquisitions targets,corresponding to the sixth chapter. Combining the above cases and results, by the quantitative analysis of the tax cost and the qualitative analysis of non-tax cost, get the final conclusion.The last part is the concluding remarks, corresponding to the seventh chapter. It mainly summaries the full text and explains the innovation and weakness of this paper.