| 摘要: | 跨國併購成為國際直接投資最重要的方式，於2006年中國成為亞洲中最大吸引外國直接投資的國家，達694.68億美元，因此中國也逐漸成為未來吸引外資進入併購的目標國；在2006年外資企業併購中國境內企業，達53件，並於2007年外資併購占全國設立外商投資企業總數和實際使用外資金額的比重分別為3.34%和2.78%，雖然其比例不大，但中國已逐漸對外開放後，其外資併購中國境內企業比例也將逐年上年。
本研究目的由於中國對外資併購所涉及到的法規繁雜，以及為了吸引更多的外資，而對外開放市場下，中國持續對法規作改革，故彙整對於外資企業進入中國併購的法規，與併購交易所產生的租稅規範之結合下作為研究。另一方面，外資企業在進行跨國併購時，惟由於忽略租稅規劃之重要性，以致於在併購上增加稅賦上的成本，因併購金額都相當龐大，而產生鉅額的租稅負擔，進而可能成為導致併購成功與否因素之一，故在併購前應進行投資/併購架構及國際租稅劃。
本論文探討外資企業在進入中國併購時，由於各國對租稅規範之不同，可透過第三地的境外公司下的選擇，如免稅天堂、與中國之間的雙邊租稅協定或與中國簽定CEPA的香港，都可享有不同租稅上的優惠；或者是在中國境內設立子公司，並以分析台資企業為例，發現其透過第三地境外公司或中國境內設立子公司，不無一定的租稅優勢，仍須依其各外資企業作租稅規劃分析。
Transnational M & A has become most important ways that one of the FDI in 2006, China became the largest in Asia to attract FDI , amounting to 69.468 billion U.S. dollars, so China is becoming to attract foreign capital into the acquisition of the target country; in 2006 foreign M & A business in China, amounting to 53, and in 2007 the establishment of foreign M & A accounting for the total number of foreign enterprises and the actual use of foreign capital share of 3.34% and 2.78% respectively, although the proportion of small, but China is gradually opening to the outside world, its foreign enterprises in China the proportion of mergers and acquisitions will also be a year every year.
The purpose of this study as a result of China''s foreign M & A rules and regulations involved in complicated, and continued reform of the laws and regulations, the aggregate for the acquisition of foreign enterprises to enter China''s laws and regulations, and M & A norms arising from the combination of the tax as a study. On the other hand, Transnational M & A have a huge amount of tax , which may lead to M & A to become one of the success factors, it should be carried out ex ante investment / M & A and international tax planning structure.
In this paper, explore the foreign enterprises to enter China in the M &A, as the countries of the different norms of tax can be obtained via a third place under the offshore companies, such as duty-free paradise, with China or the bilateral tax agreements with the China''s signing of CEPA, Hong Kong can enjoy various tax concessions; or set up subsidiaries in China, and Taiwan enterprises to analyze for example, found outside the company through a third place or establishment in China subsidiaries, without a certain tax advantages, still according to the analysis of foreign enterprises for tax planning. |
