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1、Study on the Tax Planning of Enterprise Income Tax Hongceng Cao & Xiaohui Xu College of Economics, Shenyang University Shenyang 110044, China Guojie Ao Department of Accounting and Financial Affairs, Shenyang University Shenyang 110044, China Abstract The enterprise income tax occupies is very impor
2、tant status in the tax paying of enterprise, and it has large space of tax planning. Under the background that the new enterprise income tax law was issued, we discussed the problem how to use tax planning to reduce the tax burden of enterprise and realize the maximization of the total profit for th
3、e enterprise. In this article, we studied the tax financing in the stage of enterprise financing from the selectionof financing mode and the confirmation of financing channel, and put forward that the enterprise should select the liability financing mode to the largest extent in the critical risk ra
4、nge of equity structure. We studied the tax planning in the stage of investment of enterprise from three aspects including correctly selecting the investment direc tion, confirming proper enterprise organization form and selecting tax saving investment subject. We studied the tax planning from two a
5、spects such as income and charge deduction. We studied the tax planning in the distribution stage of enterprise management result from first utilizing taxable income to compensate the loss, the loss recovering sequence of domestic investment profit return and the profit distribution strategy in the
6、low tax region. For above aspects, we all put forward our own new theoretical opinions. Keywords: Enterprise income tax, Tax planning, Tax preference Comparing with the old enterprise income law, the new enterprise income law changed in many aspects such as the taxpayer, the pre-tax deduction, and t
7、he tax preference, which put forward new task for the tax planning of the enterprise income tax. Under the background of new enterprise income tax, we will discuss the tax planning in the main stages such as the enterprise financing, investment, management and distribution. 1. Tax planning in the st
8、age of enterprise financing The tax planning of the income tax in the stage of enterprise financing mainly includes the contents about the financing mode and the financing channel. 1.1 Tax planning of financing mode The financing modes of enterprise mainly include the equity financing and liability
9、financing, and two different financing modes will produce different tax results. Generally speaking, under the fixed tax rate level, the liability financing can produce the interest rigid cost which can be reported before tax. When the account profit is adjusted as the taxable income, the tax law al
10、lows that the interest expenditure induced by the liability can be deducted before tax in the same interest rate regulated by the Bank in the same period, which equals that the state finance assumes a quarter of interest cost fro the enterprise. The equity financing is the flexi ble cost of bonus st
11、ock which can be reported after tax. The mode that the enterprise provides bonus stock and dividend to the investors is only one item of the distraction of post-tax profit (net profit), and it must be distributed after tax. The tax saving difference between two financing modes is very obvious. In th
12、e equity structure of enterprise, the proportion of the liability equity is higher, and the saving effectof the tax cost is more significant. So under the prem ise that the rate of or return on inv estment is higher than the liability cost rate, enhancing the proportion of liability financing will b
13、ring extra economic benefits for the owner of the enterprise, and finally increase the value of the enterprise. But we should also pay attention to that will increase the financial risk of the enterprise, and excessive liability will even induce the ab normality of the enterprise equity structure, a
14、nd the liability crisis will make the financial status of the enterprise fall into collapse. Therefore, before the enterprisemakes the tax planning of financing mode, it must ensure that the equity structure is in the critical risk range. 1.2 Tax planning of enterprise financing channel The financin
15、g channels of enterprise mainly include bank loan, self-accumulation of enterprise, inter-enterprise lendinginterior collection of en terprise, bond or stock issuance and commercial credit. Underusual situation, the sequenceof the tax burden from heavy to light is self-accumulation of enterprise, ba
16、nk loan, inter-enterprise lending and interiocollection of enterprise. The prin ciple of tax planning of financing channel is that under the premise that the equitystructure is to select the channel with higher profit and lower harm in the critical risk range, through comparing theadvantages and disadvantages of various financing channels. 2. Tax planning in the investment stage of enterprise For the tax planning in the investment stage of enterprise, we
