Tax Analysis On Asset Securitization

As an important form of financing,asset securitization can serve as a good way for companies to revitalize existing assets and receive cash in advance.Asset securitization emerged in China's financial market in the 1990 s and continued to develop.In the middle of the period of stagnation,it resumed its development.In the continuous development,the types of asset securitization products have become more and more widespread,from the initial securitization of credit assets to the current corporate receivables,infrastructure income rights,and the securitization of leased assets.The scale of financing of asset securitization is also growing.Financing costs,as an important part of asset securitization,often affect the successful issuance of the entire asset securitization product.The tax cost is an important part of the financing cost,and the taxes involved in the asset securitization business due to the complexity of the issuance chain and the large number of parties involved are also complex.At present,domestic experts have mainly studied the characteristics,significance,and problems of asset securitization.There are also a few experts who have studied the tax treatment of asset securitization.However,they mainly focus on sorting out existing tax policies,and the focus of research area is on the securitization of credit assets.This article focuses on the taxation of corporate asset securitization.Problems,but also focus on the analysis of tax issues arising from the entire business process,this is an innovation in the content of this article.This paper first analyzes the theoretical concept of asset securitization,and then collates the tax policies related to asset securitization of in China and analyzes the existing problems.And compare the taxation of asset securitization in different countries.This is followed by an actual case,namely,Humen Lvyuan assets securitization,one of asset securitization products,to analyze how it works in the asset securitization business.The tax problem analysis wasfinally based on the above theory,then put forward corresponding tax policy recommendations.