债务融资与股权融资的税收激励:税收不对称的现状及解决途径

Q4 Social Sciences Acta Universitatis Carolinae Iuridica Pub Date : 2022-12-09 DOI:10.14712/23366478.2022.43
Radek Halíček, M. Karfíková
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引用次数: 0

摘要

从历史上看,通过债务为企业融资的成本降低了缴纳的所得税。通过新股本融资却没有。这种不对称并非没有后果。企业的高负债和相对资本不足造成了对经济冲击的抵御能力下降的风险。一些国家引入了股权税收激励,减少了债务税收激励,或两者兼而有之。2022年6月,欧盟委员会提出了一个统一的解决方案:债务权益偏见削减津贴(DEBRA)。从2024年开始,包括捷克共和国在内的所有欧盟成员国都应为股权提供企业所得税减免,同时进一步限制利息减免。
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Tax Incentivisation of Debt Financing vs. Equity Financing: Present Status and Approaches to Solve the Tax Asymmetry
Historically, the cost of financing business through debt has reduced income tax paid. Financing via new equity has not. This asymmetry has not been without consequences. The high indebtedness and relative undercapitalisation of corporates creates a risk of reduced resilience to economic shocks. Some countries have introduced tax incentivisation of equity, reduced tax incentivisation of debt, or both. In June 2022, the European Commission proposed a harmonised solution: Debt Equity Bias Reduction Allowance (DEBRA). All EU Member States, including the Czech Republic, should provide corporate income tax deduction for equity, whilst further limiting interest deduction, starting 2024.
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0.10
自引率
0.00%
发文量
41
审稿时长
25 weeks
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