Research On Tax Problems Of Suning REITs

The real estate industry occupies an important position in China's economic development,and the real estate trust investment funds(hereinafter referred to as "REITs")as a further extension of the investment and financing channels of the real estate industry,play an important role in the long-term and stable development of the real estate industry.Therefore,the development of REITs should also be faced with adequately.REITs should belong to trust fund in nature.However,compared with the traditional funds,REITs involves the treatment of real estate related taxes in the asset transfer and project operation,such as land value-added tax,deed tax,real estate tax,and urban land use tax.Therefore,REITs will be more special and complex in tax related issues.So far,China has not set up special laws and regulations for REITs,so REITs can only be taxed according to fund and other businesses.But from the international experience,perfect tax legislation,especially tax preference is very important for the development of REITs.Therefore,if we want to make REITs develop faster and better in China,it is very important to improve the tax system environment of REITs.At present,the research on REITs in China's tax revenue circle is more focused on the macro tax system framework,discussing the related problems brought to the development of REITs by the defects in China's tax system arrangement,without specific analysis combined with specific REITs cases,which provides the research space for this paper.A complete REITs project includes three links: establishment,operation and distribution.Each link has its own specific tax provisions,which can be described as a wide range of tax related links.First of all,through combing the relevant literature of REITs,this paper finds that the existing REITs have the problems of heavy tax burden,repeated tax collection of value-added tax,SPV tax avoidance disputes,unclear tax recognition and other tax issues.These problems are disadvantageous to the development of REITs.Then through the introduction of "Suning yunchuang REITs" specific case,further verify the existence of these problems.After that,combined with the relevant theoretical research,the paper puts forward some suggestions forimprovement of these problems.As for the heavy tax burden,we can reduce the tax burden by giving specific tax preference;improving the deduction chain of value-added tax is an effective way to reduce the repeated taxation of value-added tax in the operation of the project;making clear the tax deduction to reduce the use of SPV;making clear the essence of the tax payer to solve the problem of unclear tax payer,etc.Through the case study,we can help REITs to improve the tax issues in China,and contribute a little to the development of REITs in China and the construction of tax system.