The Research On Tax Risk Management Of Wanda Group's Merger And Acquisition Of AMC In USA

With the completion of China's market-oriented transformation,Chinese enterprises are playing an increasingly important role in the wave of mergers and acquisitions.In the course of china's short 30 years of mergerand and acquisition,China has promulgated many relevant laws and regulations,with the intention of perfecting the policy system of merger and reorganization activities.But the current policy system is far from mature.In the theory of corporate restructuring tax planning,although many scholars have written a lot of related theories,some enterprises also in practice to sum up the relevant experience to promote the merger and reorganization of tax risk management,but the overall research development is still relatively slow.Therefore,whether we can accurately identify tax risks and control merger stake has become one of the important factors that determine the success or failure of mergers and acquisitions.Chinese enterprises want to continue to grow bigger and stronger in the competition,and stand out,we should make full use of the national tax policy reasonable arrangement of operation,in the process of enterprise restructuring to carry out diversified and effective tax planning,so that enterprises in the future business activities can achieve sustainable and rapid development.This paper takes Wanda Group's acquisition of AMC's tax risk identification and countermeasure as a typical case,combined with the merger before,during and after merger and acquisition of tax risk,proposed how to effectively reduce tax risk measures.First of all,the relevant tax risk stake is identified,through the tax risk index system,the key indicator analysis and identification methods,tax capacity estimation methods and other methods of analysis and identification to explore the establishment of enterprise tax risk identification and response management system.Secondly,combined with the theoretical framework of tax risk management of mergers and acquisitions and the latest tax policy promulgated by the state,the financing methods,payment methods,financial integration after mergers and acquisitions are combed,and the tax risk stakes in the process of mergers and acquisitions are analyzed,and the future tax risk response methods after the merger and acquisition transactions are analyzed.Third,from the motivation of mergers and acquisitions,the internal and external causes of risk formation,the degree of attention paid to tax risks by corporate finance personnel,changes in domestic and foreign market environment,the establishment of enterprise management institutions.Implementation and comparison of different tax risk management measures,according to the effectiveness of risk management evaluation.At present,one of the measures for enterprises to expand their own scale and improve their comprehensive competitiveness is merger and reorganization,but in the process of facing huge tax risks,how to effectively reduce tax risks is a problem that all parties involved in mergers and acquisitions must consider.By analyzing the case of Wanda Group's acquisition of AMC in the United States,this paper concludes that the tax risk runs through the whole process of the merger and acquisition,and its risk is concentrated in the valuation risk,financing and payment risk and integration risk of the acquired enterprise.Through the choice of financing mode,make full use of the relevant tax preferential policies,improve the accuracy of enterprise value assessment,the choice of payment method of merger and acquisition,the human resources of the financial system and the integration of working capital,we can effectively reduce the tax risk in the process of merger and acquisition.Therefore,enterprises must implement relevant solutions to carry out tax risk management,prevent the risk of tax in mergers and acquisitions,and implement risk control strategies.