【双语】外商出资新政——国发39号文再放盈利

发布:2017-11-24 19:26 来历: 我国Betway体育网 作者:卢奕 程娱

外商出资新政——国发39号文再放盈利

New Opportunities for Foreign Investment and the Release of Document 39

/卢奕  程娱

By Lu Yi and Chen Yu

88日,国务院印发了《关于促进外资增加若干办法的告诉》(国发〔201739号,下称“39号文”),这是继2017年年头出台的《关于扩展对外敞开活跃利用外资若干办法的告诉》(国发〔20175号,下称“5号文”)之后,国务院为促进外资增加再度发布的又一重磅文件。39号文在5号文的基础上,提出了进一步削减外资准入约束、拟定财税支撑方针、完善国家级开发区归纳出资环境、便当人才出入境和优化营商环境五大方面二十二项详细行动。在放宽外资准入和加大财税支撑两方面,39号文都有清晰指向,既适应了商场开展局势的改变,也回应了外商在华出资的热门诉求。当然,部分方针也有待在施行细则方面做进一步的清晰。

China has been working to improve market access for foreign investorsand an announcement in August was a major step in this direction. On August 8the State Council unveiled its Notice on Measures for the Promotion of Foreign Investment (State CouncilNo.392017). This policy announcementwidely known as Document 39extended greater market access and offered more financial support to foreign investors. The same document built on a foundation put in place earlier in the year with the Notice on Measures for the Promotion of Opening Up with Active Utility of Foreign Investment (State CouncilNo.52017). Document 39 and Document 5 put forward 22 detailed suggestions on reducing restrictions on foreign capitalformulating tax and support policiesfacilitating immigration formalities for foreign employees and improving the overall investment environment of national level development zones. Document 39 gives clear guidance on the relaxation of foreign capital access in response to market developments and demand from foreign investors already in China. Some of the policies will no doubt require further elaboration.

进一步下降外资准入门槛

A Lower Threshold for Foreign Capital Access

39号文清晰指出要进一步扩展商场准入对外敞开规划,并提出了12个将进一步对外敞开的详细范畴,包含专用车和新能源轿车制作、船舶规划、支线和通用飞机修理、世界海上运送、铁路旅客运送、加油站、互联网上网服务运营场所、呼叫中心、表演生意、银职业、证券业和稳妥业。

Document 39 clearly states that it is necessary to expand market accessand proposes 12 specific areas that will be further opened to the outside world. These include new energy vehiclesspecial-use vehiclesship designregional and general aircraft maintenanceinternational maritime transportrailway passenger transportgas stationspremises for Internet access businessescall centersagents for entertainersbankingsecurities and insurance.

依照39号文对这些范畴的敞开要求,20176月刚刚由国家发改委和商务部一起发布的《外商出资工业辅导目录(2017年修订)》(下称“2017版《目录》”)或许面对再次修订。从2004年到2015年的十年间,《外商出资工业辅导目录》(下称“《目录》”)先后修订了四次,长时间保持着三到四年的更新周期。而20176月发布的2017版《目录》与2015年发布的上一版《目录》仅距离两年。假如2017年年末之前依照39号文的布置再次对2017版《目录》进行修订,将是首度在一年中对《目录》进行两次修订,这种更新速度可谓史无前例。

Document 39 may require another revision of the Foreign Investment Industry Guidance Catalog (often referred to as the 2017 Catalog)which was jointly issued by the National Development and Reform Commission and the Ministry of Commerce in June 2017. During the 2004-2015 periodthe Catalog of Foreign Investment Industries had been revised four times. The 2017 Catalog updated a document released two years previously. If the existing Catalog is updated again this yearthat would be unprecedented.

与此一起,39号文提出的赶快在全国推行自由交易试验区试行的外商出资负面清单,也意味着已在自贸区试行的外资准入的敞开,将有或许很快在全国推行。自贸区作为我国的先行先试试验区,享有更高的敞开度。此前,《自由交易试验区外商出资准入特别办理办法(负面清单)(2017年版)》(下称“《自贸区负面清单》”)已于20176月更新并发布,与上一版比较削减了10个条目、27项办法,触及航空制作、医药制作、互联网和相关服务、银行服务及稳妥事务等范畴。能够预见,这些已在自贸区先行敞开的范畴,未来将逐渐在全国规划铺开。笔者在整理要点范畴的对外敞开头绪后以为,未来,我国或许会在轿车、电信及金融等重要范畴加大对外敞开脚步。

Additionallythe so-called negative list for foreign investmentwhich permits investment in any area not specifically placed off limitsshould be promoted on a national scale as soon as possible. This negative list concept was originally employed on a trial basis in free trade areas. These free trade areas (FTAs) enjoy a higher degree of market opening than other parts of the country. The Special Management Measures in Foreign Capital Access in Free Trade Pilot Areas (Negative List) (2017 Edition) was released in June 2017 as an updated version of existing rules. Compared to the previous versionthe 2017 edition eliminated 10 articles and 27 measures related to aviation manufacturingpharmaceutical manufacturingInternet and related servicesbanking services and insurance. It is likely that these business areas will be gradually liberalized on a national scale. China may also move to open up the automotivetelecommunicationsfinancial and other key sectors in the future.

一是轿车制作业。撤销轿车工业外资股比约束,一直以来都是外国在华出资者的激烈呼吁。尽管39号文清晰提出了要放宽专用车和新能源轿车的外资准入,但这好像并不是外国出资者最为重视的问题。2017版《目录》和《自贸区负面清单》中外国出资者在轿车范畴的出资约束,依然连续了外资股比不得超越50%和“2+2”方针(即同一家外商最多只能在国内树立两家乘用车和两家商用车的合资企业)。值得留意的是,2016年,工信部和国家发改委负责人曾先后揭露表明,政府正在考虑撤销中外合资轿车制作企业外方持股50%的上限,短则在35年内施行,长则在8年内施行。本年4月,由工信部、国家发改委和科技部联合发布的《轿车工业中长时间开展规划》也清晰提出要“有序铺开合资企业股比约束”。能够预见,轿车制作业范畴的外资股比约束将会逐渐铺开。

Let us first look at the auto sector. Foreign investors have long sought to remove the restrictions which require joint ventures and limit foreign shareholdings in auto production. Although Document 39 makes it clear that China should relax foreign capital limits on the production of special-use and new energy vehiclesit does not address the key concern of foreign investors - conventional auto production. The 2017 version of the Catalog and the Free Trade Area Negative List continue the restrictions on foreign investment in automobile production. They maintain the limit of 50% equity in any venture as well as the “2+2” structurewhich restricts foreign automakers to two joint ventures for passenger cars and two joint ventures for commercial vehicles. It is noteworthy that in 2016officials of the Ministry of Industry and Information Technology and the National Development and Reform Commission publicly stated that the government was considering canceling the 50% equity ceiling and that would be accomplished in three to eight years. In April this yearthe Ministry of Industry and Information Technologythe National Development and Reform Commission and the Ministry of Science and Technology issued their Long-term Development Plan for the Automobile Industry and made it clear that authorities should relax the share ratio restrictions on joint ventures in a orderly fashion.

二是电信及互联网服务业。2017版《目录》与上一版目录比较,对电信业的约束性办法没有改变,电信业的外资壁垒依然存在。尽管39号文已将互联网上网服务运营场所及呼叫中心等列入本次将详细敞开的范畴,但没有触及外资呼吁较激烈的包含云核算、互联网接入服务等在内的增值电信服务。值得留意的是,早在2014年,上海自贸区就已试水向外国出资者敞开部分增值电信事务的股比约束。上海自贸区内的信息服务事务(仅含运用商铺)、存储转发类事务、呼叫中心事务、国内多方通讯服务事务、因特网接入服务事务的外资股比可打破50%;在线数据处理与买卖处理事务(运营类电子商务)的外资股权份额约束已于2015年撤销,并推行至全国履行。20155月的《中共中央 国务院关于构建敞开型经济新体制的若干意见》也提出,要在保护国家安全的前提下,对电信等基础设施范畴逐渐削减外资约束。当时,已在上海自贸区敞开的部分增值电信事务或可在不久的将来在全国得到逐渐推行。

Turning to telecommunications and Internet servicesthe 2017 version of the Catalog provided almost no changes from the past. Barriers to foreign capital in the telecommunications industry remain in place. Document 39 has listed Internet service corporate premises and call centers as areas for more market accessbut it did not touch cloud computingInternet access services or other value-added services where there is considerable interest from foreign concerns. It is noteworthy thatas early as in 2014the Shanghai Free Trade Area tried to open up equity ratio restrictions on value-added telecom services for foreign investors. The ratio for information service corporationsstorage and forwardingcall centersdomestic multi-party communication services and Internet access services in the Shanghai Free Trade Area can exceed 50%. The share ratio restrictions of online data processing and transactions (including e-commerce operations) were removed in 2015and that has since been promoted on a national scale. In May 2005Some Suggestions from the Communist Party Central Authorities and the State Council on the Construction of an Open Economy also proposed a gradual reduction of restrictions on foreign investment in telecommunications and other infrastructure areas as long as national security requirements are met. At presentsome aspects of value-added telecom services that have been opened up in the Shanghai Free Trade Area may gradually be applied nationally in the future.

三是金融业。关于金融业的出资约束,无论是2017版《目录》仍是《自贸区负面清单》都持慎重铺开情绪。2017版《目录》与上一版目录比较,对金融业的约束性办法没有改变,仅仅将本来存在于职业监管文件中的要求进一步归入负面清单中;而39号文将银行、证券和稳妥业清晰归入了12个本次将详细敞开的范畴,但没有详细清晰哪些有关一切权和运营规划方面的约束将被撤销。从20176月央行行长周小川在“2017陆家嘴论坛”上关于“金融服务业还要进一步扩展敞开”的表态,到2017年年头国务院发布的5号文中关于“要点放宽银行类金融组织、证券公司、证券出资基金办理公司、期货公司、稳妥组织、稳妥中介组织外资准入约束”的清晰指向,都为金融服务范畴的对外敞开释放了活跃信号。能够看到,金融范畴外资准入约束的放宽已被正式列入工作日程。

Lastlywe should examine the financial sector where we can see a cautious liberalization.  The 2017 Catalog has not eliminated the key restrictions on the financial sector. Document 39 clearly states that bankingsecurities and insurance are included in the 12 areas that will be liberalizedbut there is no indication of which restrictions on ownership and business areas will be removed. In June 2017Zhou Xiaochuanthe governor of the central banktold the Lujiazui Foruma major business conferencethat financial services would be gradually liberalized. The State Council's Document No. 5 also said it was necessary to relax curbs on foreign capital in banking and financesecuritiessecurities investment fund managementfutures tradinginsuranceand insurance intermediaries. Both are positive signals on the future opening up of the financial service sector.

拟定财税支撑方针

Formulating Tax and Fiscal Support Policies

为鼓舞境外出资者持续扩展在华出资,39号文提出,关于境外出资者从我国境内居民企业分配的赢利直接出资于鼓舞类出资的项目,凡契合规则条件的,实施递延交税方针,暂不征收预提所得税。

In order to encourage foreign investmentDocument 39 states that foreign investors using profits from enterprises in China to invest in encouraged business areas may be entitled to deferred tax treatmentallowing them to avoid the payment of withholding tax.

早在2008年之前,外国出资者从其出资于我国境内的企业分得的股息所得,一般可免于交纳我国的预提所得税。但200811日起,新企业所得税法撤销了该优惠。自此,除非可享受相应税收协议待遇,外国出资者从我国境内分得的股息所得,一般需向我国税务机关交纳10%的预提所得税。即便相关税后赢利直接用于我国境内再出资,外国出资者的股息再出资仍需承当与赢利分配相对应的预提所得税税负。

Prior to 2008dividends distributed to foreign investors from their investments in China's domestic enterprises were generally exempt from withholding tax. But as of January 12008the corporate income tax law ended this treatment. Since thenunless it can enjoy the corresponding tax treaty treatmentdividend income of foreign investors in China generally requires a 10% withholding tax. Even if after-tax profits were used for reinvestment in Chinaforeign investors were still subject to withholding tax.

为此,许多外国出资者挑选在华树立出资性公司作为其我国赢利的聚集和再出资渠道,以防止在我国境内再出资时或许会发作的10%的预提所得税。但是,树立出资性公司时对其外国出资者所必需的经济实力的要求(如外国出资者财物总额不低于4亿美元、出资性公司注册本钱不低于3000万美元等),使大多数中小型跨国企业望而生畏。尔后,商务部曾发布规则,答应境外出资者以其持有的我国境内企业的股权作为出资,新设外商出资企业或对现存内外资企业进行增资。此举曾使部分无法满意出资性公司树立条件的中小型跨国企业,能够经过股权出资的方法重组其在华的出资架构。本次新规的出台,对有意进一步在华出资的跨国企业来说,无疑是又一利好。这些跨国企业,未来可适用于传统的包含我国香港、新加坡在内的境外出资渠道,以完成对其我国赢利的聚集和再出资,而无需提早担负相应的预提所得税。

In order to avoid the 10% withholding taxmany foreign investors chose to set up an investment company in China as a platform for the collection and reinvestment of profits. Howeverthere are some requirements for establishing an investment companyand these can be difficult to meet. These include having total assets of not less than US$400 million and registered capital of at least $30 million for the the investment company alone. This has discouraged many smaller multinational companies. Since thenthe Ministry of Commerce has issued a provision allowing foreign investors to invest in Chinese enterprises or increase their investment in existing foreign-funded enterprises. This has allowed some smaller multinational companies that cannot meet the conditions for the establishment of investment companies to reorganize their investment structure in China through equity investment. The introduction of the new regulations is undoubtedly conducive to multinational companies that are interested in making further investments in China. These multinational companies can make use of traditional overseas investment platformsincluding those in Hong Kong and Singaporeto collect and reinvest their profits without paying withholding tax.

该优惠方针的出台,不只显现了我国政府进一步招引外资的力度和决计,也投合了自2016年下半年以来监管组织对跨境资金活动监管的晋级。该方针旨在经过税收优惠的方法使外资赢利更多地留存并出资于我国商场。

The introduction of these preferential policies shows the Chinese government’s determination to attract more foreign investment. It also meets the requirements of revised cross-border capital flow regulations which seek to encourage foreign investors to keep profits in China.

为促进利用外资与对外出资相结合,39号文提出,对我国居民企业(包含跨国公司区域总部)分回国内契合条件的境外所得,研讨出台相关税收支撑方针。

In order to promote the use of foreign funds and foreign investmentDocument 39 introduces relevant tax support policies regarding Chinese resident enterprises (including regional headquarters of multinational companies) so that they return overseas income to China.

我国企业所得税法选用的是属人加属地的两层管辖权,居民企业应就其来历于境内外的悉数所得交纳企业所得税。为防止重复交税,现行企业所得税法选用的是分国不分项的限额抵免准则,其间对股息答应直接抵免。

China’s corporate income tax law employs a dual jurisdiction approach that recognizes the residence of the individual company as well as territorial jurisdiction. Resident enterprises should submit corporate income tax based on total domestic income. In order to avoid double taxationthe current corporate income tax employs limits or exemptions according to nationality rather than specific items of taxation.

我国企业所得税法选用的是属人加属地的两层管辖权,居民企业应就其来历于境内外的悉数所得交纳企业所得税。为防止重复交税,现行企业所得税法选用的是分国不分项的限额抵免准则,其间对股息答应直接抵免。

Howeverjudging from current trends in global taxationmore and more countries (especially developed countries) have begun to adopt tax-free treatment in order to avoid double taxation on the foreign income of resident companies. Tax exemption of foreign income is generally focused on dividends and capital gains from overseas while tax credits are generally applied on interest and royalties. The main reason for such tax exemption lies in the simple calculation method and low tax compliance costs. This is aimed at reducing or eliminating the tax burden of the taxpayer when repatriating overseas income and it can enhance the regulation of domestic enterprises by encouraging the return of investments and profits from overseas.

现在,我国现行的境外所得抵免准则核算进程杂乱,交税人在实际操作时很难精确把握,或许会构成境外税收不能充沛抵免,加大交税人海外出资的税负。此外,企业所得税法规则,境外所得抵免层数限于三层外国企业,假如居民交税人在海外树立的出资架构超越三层,三层以外的企业税收则不能归入境外所得抵免的规划,然后构成实际上的两层交税。

At presentChina's current overseas credit system is complicatedand it is difficult for taxpayers to accurately grasp the main tax principles as they apply to their specific operating circumstances. This can lead to inadequate credit for foreign tax and in turn increase the overseas investment tax burden for these taxpayers. In additionthe corporate income tax law stipulates that such credits on foreign income are limited to third-tier foreign enterprises. If resident taxpayers have more than three tiers of offshore investmentscorporate tax for those operations exceeding the three-tier tax limit cannot be included in the credit system. This means such overseas income could be subject to double taxation.

39号文出台之机,主张方针拟定者可考虑在我国境外所得抵免准则中引进免税法,减轻境外出资的税收担负和遵照本钱,鼓舞海外赢利流入国内。与此一起,境内外的本钱高效率活动也有利于招引外国出资者在我国树立区域总部。

With the introduction of Document 39it is suggested that policy makers should consider introducing tax exemptions in the credit system for foreign income of companies in China. That would reduce the tax burden and compliance costs related to overseas investment and encourage overseas profits to flow back to China. At the same timethe efficient flow of capital at home and abroad is also conducive to attracting foreign investors to set up regional headquarters in China.

服务外包技能先进型服务企业所得税优惠方针全国推行

Corporate Income Tax Preferential Policies on a National Scale

为发挥外资对优化服务交易结构的活跃作用,39号文提出,将服务外包演示城市契合条件的技能先进型服务企业所得税优惠方针推行到全国。

In order to play a positive role in foreign investment in optimizing the services trade structureDocument 39 proposes that preferential income tax policies regarding advanced technology services in the demonstration cities will be promoted on a national scale.

现在,全国服务外包演示城市试点区域(31个)根本包括东部滨海大部分中心城市和中西部部分中心城市。树立在上述区域经确定的技能先进型服务企业,可享受15%的企业所得税优惠税率,并可在不超越薪酬薪水总额的8%以内据实扣除其员工教育经费支出。39号文件对该方针的扩围,旨在发挥外资对优化服务交易结构的活跃作用,引导外资更多投向高技能、高附加值服务业。

At presentthe 31 pilot areas for service outsourcing basically cover most of the eastern coastal cities and some central cities. Those enterprises that are identified as advanced technology service companies in the above areas can enjoy a 15% preferential tax on corporate income and a deduction for staff education and training expenses not in excess of 8% of total wages. Document 39 expands the scope of the policyand aims to help optimize the structure of the services trade in order to promote foreign investment in high-tech and high value-added services.

技能先进型服务企业所得税优惠,相较高新技能企业税收优惠方针而言,尽管相同适用15%的优惠税率,但由于不要求对核心技能相关常识产权具有一切权,所以对跨国企业而言有着特别的招引力。对在华的外资跨国企业来说,许多都已经过树立研制中心、同享中心等方法在我国出资树立了研制规划、金融、物流收购及内部办理等我国或亚太甚至全球中心。本次技能先进型服务企业所得税优惠方针扩围后,外国出资者可考虑在高学历人才集聚且基础设施完善的北上广深及东部滨海要点城市持续保存或增设高端研制中心、技能中心,而将部分技能含量较低的同享中心、服务中心,向本钱较低的中西部等二、三线城市搬运。

Service companies using advanced technologies can benefit from a preferential tax rate of 15% -- the same rate applied to high-tech companies. The guiding principle is that it is not necessary to own the intellectual property rights associated with a core technologyand this is highly appealing to multinational enterprises. Many multinationals have set up research and development centerssharing centers and the like in China for designfinancelogistics procurement and internal management purposes for operations in Chinathe Asia-Pacific region or on a global basis. With the extension of these preferential tax policiesforeign investors may maintain or add high-end research and development and technical centers in BeijingShanghaiGuangzhouShenzhen and other key coastal cities where the infrastructure is better and it is easier to find skilled personnel with higher educational levels. Sharing centers and service centers with lower technical requirements might be located in central parts of the country or in second- or third-tier cities where costs are lower.

但值得留意的是,首要,跨国企业在适用该方针时,需求特别重视其关于离岸服务外包收入不低于总收入35%的要求,因此所树立的同享服务中心不只需掩盖我国大陆区域,一起还应至少辐射亚太区域甚至全球规划。一起,在向中西部等二、三线城市搬运的进程中,还应留意员工总数50%以上应具有大专以上学历的要求。

It is noteworthy that in the application of policies towards multinational companiesspecial attention should be paid to the fact that offshore service outsourcing revenue should not be less than 35% of total revenue. That means a service sharing center would need to cover mainland China and should also have a reach that covers the Asia-Pacific region or even be global. At the same timeas operations shift to the second- and third-tier cities of central Chinacorporate executives should note the requirement that more than 50% of all workers should have a college education.

其次,跨国公司还需特别重视技能先进型服务企业所得税优惠与其集团内部转让定价方针之间的平衡。一般来说,跨国企业倾向于以为境内研制或技能中心在总部或其他集团内企业的托付下进行的研制或技能活动,仅应取得惯例赢利报答。但事实上,被确定的技能先进型服务企业有必要具有选用先进技能供给相关服务的才能或许具有较强的研制才能,税务机关或许会要求其取得较之一般的服务外包企业更高的赢利报答,尤其是假如该企业还一起请求享受了研制加计扣除的税收优惠。

Multinational companies need to pay special attention to the balance between preferential corporate income tax incentives and intra-group transfer pricing policies. In generalmultinationals tend to believe that research and development or technical activities undertaken by domestic research and development/technical centers on behalf of corporate headquarters or other group member companies should report a normal profit return. But in factsuch service enterprises must have the ability to employ advanced technology or have strong research and development capabilities. Tax authorities may therefore require them to obtain a higher profit return than average in the outsourcing business segmentespecially if the company also applies for research and development tax deductions.

从世界商场来看,服务外包范畴竞赛日趋激烈,许多国家都将接受兴旺经济体的世界服务外包事务确立为战略要点。印度和爱尔兰一直在服务外包范畴保持着竞赛优势位置,马来西亚、墨西哥、越南及菲律宾等国的接受才能也正在快速提高。15%技能先进型服务企业的所得税优惠,以及“营改增”后外包服务的出口免税但不退税的方针晋级为可交还一切进项税的零税率方针。此举有利于招引跨国企业出资我国服务外包工业,一起也提高了我国国内内资服务外包企业的世界竞赛力。但由于人力本钱增加等其他非税要素,现在,我国服务外包工业的世界竞赛优势并不显着。未来,我国政府是否会进一步出台服务外包范畴的其他鼓舞办法,如高端人才鼓舞、财政资金支撑等,仍需拭目而待。

From the international marketcompetition is becoming increasingly intense in the field of service outsourcing. Many countries are making international service outsourcing from advanced economies their strategic focus. India and Ireland have competitive advantages in this field while MalaysiaMexicoVietnam and the Philippines are also becoming increasingly competitive. There is more that could be done. These include the shift from business tax to a value-added tax where there is a prospect of reimbursement of all input taxotherwise known as a zero taxation policy. This will help attract multinational enterprises to invest in China's service outsourcing sector and enhance the international competitiveness of China's outsourcing enterprises. Howeverdue to the increase in labor costs and other non-tax factorsChina's competitive advantages are not all that obvious. In the futureit remains to be seen whether the Chinese government will introduce other incentivessuch as in encouraging the creation of high-end talent pools or offer greater financial support.

作者卢奕系毕马威我国税务服务主管合伙人,作者程娱系毕马威我国税务常识办理中心高档司理

Lu Yi is partner of the China Tax Services Management Department at KPMG

Cheng Yu is senior manager of the China Tax Knowledge Management Center at KPMG.

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