Tax Credit Concession In Bankruptcy And Reorganization

The proper handling of tax claims is an unavoidable obstacle for debtor companies throughout the bankruptcy reorganization process.Most of the existing studies have focused on tax priority and tax incentives,but based on the concept of "joint rescue through concessions" in the reorganization system,the concessions of tax claims in the reorganization process should also be taken seriously.The key part of the restructuring plan is the "debt reduction",i.e.,all creditors negotiate concessions to promote the determination and implementation of the restructuring plan,but the tax creditors are unable to approve the reduction of tax claims due to the tax statutory principle,and the enterprises on the verge of bankruptcy are unable to pay high taxes,which leads to the deadlock of restructuring.The objectives of the reorganization system conflict with taxation principles,and the protection of state taxation interests is in conflict with the right of survival of the enterprise and market protection.Therefore,it is necessary to harmonize the bankruptcy law and the tax law in the first place,so that the conflict between the tax law principles and the concession of tax claims can be resolved,and then to provide a reasonable and legal basis for the concession of tax claims in the reorganization of enterprises through the systematic design of rules based on the balance of interests and the principle of proportionality.This paper is divided into four chapters.The first part of the paper is divided into two parts.The first part starts from the internal logic of bankruptcy reorganization and tax collection,and discusses the frictions between the two in institutional design and practical operation in light of the current practice,which leads to the main issues discussed in this paper.The second part places tax collection in the bankruptcy reorganization process and discusses the special characteristics of tax claims in the reorganization process from the perspective of bankruptcy law,showing that the root of the institutional friction lies in the conflict between the concept of bankruptcy reorganization and the principles of tax law,especially the principle of statutory taxation.Chapter 2 takes the innovation of tax law concept as the background,restates the substance of tax law principles,combines the principle of quantitative taxation and the needs of the overall interests of society,and argues for the harmonization of tax claim concessions and tax statutory principles in bankruptcy reorganization from the value level,so as to lay the theoretical foundation for the design of rules at the institutional level.The third chapter discusses the premise and principles of concession of tax claims in bankruptcy reorganization,taking into account the theoretical and institutional achievements in foreign countries,so as to avoid the reverse imbalance of institutional adjustment.Chapter 4 discusses the design of rules for concession of tax claims in reorganization proceedings,mainly from the perspectives of reorganizing enterprises and institutional regulation of tax authorities.