The Research On Tax Related Issues Of Equity Incentive In Listed Companies

In the process of improving the modern enterprise system,the management right and ownership are gradually separated,and the "separation of two rights" model is widely adopted by listed companies,at the same time,there is a "principal-agent problem".Equity incentive is widely recognized as an effective mechanism to alleviate agency problems by awarding the incentive object enterprise shares as a reward,tying the interests of the company and individuals together.In China,with the refinement of the applicable standards of equity incentive by the CSRC and the Ministry of Finance,and the relatively mature governance of listed companies,the number of equity incentive schemes implemented has also gradually increased in recent years.However,due to the underdeveloped capital market in China,the development of equity incentive is still immature,and many companies have unreasonable problems in equity incentive.From the perspective of cost-benefit principle and corporate interests,the related tax-related issues become very important when equity incentives are used more widely.How to identify and avoid various tax-related issues in equity incentives,guard against tax risks and ensure the effectiveness of equity incentives implemented by listed companies on the basis of current policies is the focus of this paper.This paper adopts the combination of theoretical research and case study,summarizes the current research status and theoretical basis,and has a comprehensive understanding of the issue of equity incentive,and on this basis,discusses the deficiencies of the existing literature in terms of tax policy and corporate income tax,so as to analyze different tax-related issues and countermeasures in a more in-depth and comprehensive way.In order to achieve the research purpose,this paper first clarifies the concept and classification of equity incentive,defines two main research models-stock option and restricted stock,and expounds the principal-agent,incentive compatibility and other related theories.Secondly,based on the two models,this paper combs the application of the current accounting rules and tax regulations,and combined with the current situation of the development of equity incentives of listed companies,puts forward three major tax-related issues that will be faced in practice: the risk of the tax commission dealing with differences,the remaining defects of the tax system and the tax problems of the taxrelated subjects.Then,select two representative cases of listed companies under the equity incentive model,Analyze the different tax treatment and different tax problems faced by the company in the implementation process,summarize the tax-related difficulties in the practical treatment,and summarize the measures and enlightenment from the specific problems of the case,providing valuable reference for other listed companies to carry out equity incentives.Finally,this paper gives suggestions from two aspects: on the one hand,further optimize and improve government tax and regulatory policies;On the other hand to improve the listed companies equity incentive tax risk management ability.