The Research On Tax Planning Of Enterprises Backdoor Listing In China

With the increasing frequency of capital market trading activities,raising capital through listing has increasingly become an option for corporate fundraising activities.With the development of Chinese capital market,backdoor listing is the way for companies to access the capital market has increasingly attracted the attention of large companies.Compared to initial public offerings,backdoor listing can save the waiting time in line and provide companies with more convenient and faster ways to obtain financing funds.Therefore,it has received more attention from some large state-owned enterprises and private enterprises recent years,such as the 2016 Shunfeng backdoor JiangNanJiaJie.And in recent years,the price of Shell Capital has become higher and higher,and the SFC’s review of backdoor listings has also become more stringent.In particular,the SFC announced the most stringent new regulations in 2016.With the increasing demand for listing and the increasingly stringent influence of the China Securities Regulatory Commission,it is increasingly important to conduct further research on the key links in the backdoor listing.After analyzing the cases of backdoor listing in recent years,the author finds that companies are mainly concerned with the issue of strategic direction and legal compliance during the planning process of the backdoor listing plan,while paying less attention to taxation issues,although taxation isn’t a constraint on the backdoor,it is still important to balance the interests of all parties.Tax planning analysis in the process of backdoors can select the backdoor model with minimal tax burden on the basis of strategic operation selection,which not only measure the interests of the borrower but also help to avoid the backdoor tax risk.Based on this,the article links backdoor listing and tax planning organically.At the first this paper compares the tax planning methods in different aspects of the backdoor listing process,and then conducts a comprehensive analysis of a backdoor listing case that took place in 2016 to arrive at a case study and revelation.Lastly the paper proposes tax planning advices during the backdoor listing process.This paper has five chapters.The second chapter introduces the enterprise.The theoretical basis for tax planning of backdoor listing includes the motives,steps and options for backdoor listing,the characteristics and main principles of tax planning,and the main means for tax planning of corporate backdoor listing.The third chapter sorts out the taxation policies for backdoor listing.From the perspective of enterprises,tax planning points in the various aspects of the backdoor listing are analyzed;the fourth chapter analyzes tax planning based on the actual backdoor cases in the capital market;and the fifth chapter proposes three suggestions for corporate tax planning under the backdoor listing approach.