TAX PRACTICE웵풼탍쮽쒼믹뷰뗄쮰컱뒦샭훜뫩럥†쇎쿾뚫†퓸뎿폟ꎨ짮?쫐뢣쳯쟸뗘랽쮰컱뻖†맣뚫†짮?†㔱㠰㈸ꎩꆰ쮽쒼믹뷰ꆱ쫇놾쫐뎡훐쓚죝햪튪ꆰ맣랺듦퓚뗄튻훖춶쒣쪽ꆣ쒿:웵풼탍쮽쒼믹뷰ꆱ쫇놾쫐뎡훐맣랺듦퓚뗄튻샮훖뫨춶쿨쒣쪽ꎬ뛔웵풼탍쮽쒼믹뷰펦죧뫎잰ꎬ훐맺ꆰ쮽쒼믹뷰ꆱ퓚램싉짏/춼헷쮰ꎬ쫇튻룶듦퓚헹틩뗄컊쳢ꆣ놾컄듓럖컶웵풼탍뒦폚믒즫뗘듸ꎬ쎻폐쏅뗄램싉쮽쒼믹뷰놾쒼벯ꆢ춶퓋ퟷꆢ쫕틦럖엤맽돌훐뗄쳵뿮살뷧뚨쮽쒼믹뷰뗄램싉뗘램싉맘쾵죫쫖ꎬ뗃돶웵풼탍쮽쒼믹뷰퓋ퟷ맽돌훐듦캻ꆢퟩ횯탎쪽ꆢ램싉맘쾵ꆢ좨샻퓚ꆰ솽훖펦쮰탐캪ꆢ솽룶쓉쮰훷쳥ꆱ뗄뷡싛ꆣ틥컱뗈ꆣ뛔쮽쒼믹뷰죧뫎헷쮰헹맘볼듊ꎺ웵풼탍†쮽쒼믹뷰†믹뷰돖폐죋틩뷏뛠ꎬ폈웤쫇램싉짭럝뷧뚨뷏믹뷰맜샭죋캪몬뫽뗄웵풼탍쮽쒼믹뷰ꎬ놾컄헫뛔웵풼탍쮽쒼믹뷰뗄쮰컱뒦Abstract:Contractual private equity fund serves샭뷸탐첽쳖ꆣas a widespread investment mode in capital market, buthow to tax it has become a controversial issue. This튻ꆢ웵풼탍쮽쒼믹뷰뗄paper analyzes legal relations of contractual private쓚몭뫍뇭쿖탎쪽equity fund in capital raising, investment operations,튻냣뛸퇔ꎬ쮽쒼믹뷰뗄놾훊income distribution, and finally draws a conclusion thatthe opera쫇쿲짙쫽쳘뚨뛔쿳쒼벯뷰ꆢ벯tion of contractual private equity fund involvesÔÔtwo taxable acts and two taxable subjectsÓ.훐춶ꆢ믱좡늢럖엤쫕틦ꆣ쮽쒼Key words: Contractual-type Private equity fund믹뷰뗄뷰춶죫헟돆캪믹뷰돖Fund holder Fund manager폐죋ꎬ뷰뗄쒼벯뫍퓋ퟷ헟돆캪믹뷰맜샭죋ꆣ퓚훐맺ꎬ쮽쿂쒼벯뷰쫇럇램뗄ꎬ폚쫇탭뛠쮽쒼믹뷰뷨폃쒳킩뫏램ퟩ횯뗄탎쪽돶쿖ꎬ헢뻍쫇쮽쒼믹뷰뗄뇭쿖탎쪽ꆣ쒿잰맺쓚쮽쒼믹뷰뗄뇭쿖탎쪽뿉틔럖캪짨솢웳튵탍ꆢ탅췐탍ꆢ럖즢뗇볇탍ꆢ뚩솢웵풼탍쯄훖ꎬ웤훐잰죽훖뻹틔튻뚨뗄뫏램ퟩ횯탎쪽돶쿖ꆣ뚩솢웵풼탍쫇튻훖ퟮ횱뷓ꆢퟮ풭쪼뫍ퟮ웕뇩뗄쮽샮뫨쿨/춼쒼믹뷰ퟩ횯탎쪽ꎬ쯼늻뷨폃뫏램72INTERNATIONALTAXATION IN CHINA2010-10
INTERNATIONAL TAXATION IN CHINA훷쳥뗄짭럝돶쿖ꎬ믹뷰돖폐죋횱내헕ꆰ쪵훊훘폚탎쪽ꆱ뗄풭퓲ꎬ춬뗄램싉램맦맦랶ꎬ폐늻춬뗄램뷓붫뷰붻뢶룸믹뷰맜샭죋벯믹뷰맜샭죋늻폃싄탐쓉쮰틥컱ꎬ싉쿠뛔죋ꆢ늻춬뗄좨샻뫍틥컱ꎬ훐맜샭뫍춶ꎬ춨맽잩뚩쒳훖탎횱뷓평믹뷰돖폐죋싄탐쓉쮰틥솽룶램싉맘쾵뇘탫럖뇰내쿠펦쪽뗄웵풼살쏷좷쮫랽뗄좨샻틥컱벴뿉ꆣ샭평쫇ꎺ퓚웵풼탍쮽쒼램싉맦랶뒦샭ꎬ늻쓜믬캪튻첸ꎬ컱ꆢ샻틦럖엤뗈램싉맘쾵ꆣ믹뷰뗄춶퓋ퟷ탐캪훐ꎬ믹뷰맜솽룶닣쏦뗄쓉쮰틥컱튲펦럖뇰웵풼탍쮽쒼믹뷰퓚램싉맘쾵샭죋쯤좻쫇춶퓋ퟷ램싉틢틥싄탐ꎬ늻쓜폃웤훐튻훖쓉쮰틥컱짏뇭쿖캪믹뷰돖폐죋뫍믹뷰맜짏뗄춶훷쳥ꎬ떫쪵훊짏볈늻쫇듺쳦쇭튻훖쓉쮰틥컱ꆣ샭죋횮볤뗄쏱쫂뫏춬맘쾵ꎬ헢훖룃춶퓋ퟷ뗄쪵볊돶헟튲늻퓚믹뷰맜샭죋샻폃쮽쒼뷰횱뷓춨맽뫏춬쒼벯뷰뗄랽쪽쫇룃춶퓋ퟷ뗄쪵볊쫕틦죋ꎬ믹뷸탐춶퓋ퟷ헢튻닣쏦뗄램싉폎ퟟ퓚쿖탐램싉탭뿉뗄뇟풵ꆣ떫뷰돖폐죋닅쫇웵풼탍쮽쒼믹뷰탐캪훐ꎬ짦벰뗄춶랽벰놻춶쫇평폚웵풼탍쮽쒼믹뷰뻟폐횱춶퓋ퟷ뗄쪵볊돶헟뫍쪵볊랽뗄램싉맘쾵ꆢ좨샻틥컱ꎬ평춶뷓ꆢ쏷좷ꆢ쇩믮뗄쳘탔ꎬ쯼캪춶쫕틦죋ꎬ틲듋믹뷰맜샭죋뿉틔늻쿠맘뗄램싉램맦뷸탐맦랶ꎬ춶헟쯹맣랺뷓쫜뫍닉폃ꆣ붫룃쮽쒼믹뷰뗄뷰퓋ퟷ죫헋ꎬ룷랽싄탐쮰쫕램싉램맦맘폚뛾ꆢ웵풼탍쮽쒼믹뷰뗄튲늻폃뻍룃쮽쒼믹뷰뗄춶퓋춶탐캪뗄쓉쮰틥컱ꎨ죧춶튵짦쮰컊쳢ퟷ뷉쓉룷훖쮰뿮ꎬ벴믹뷰맜샭죋컱뗄펪튵쮰ꆢ춶쯹뗃뗄쯹뗃쮰늻쫇쓉쮰훷쳥ꎬ늻폃싄탐쓉쮰틥뗈ꎩꆣ퓚믹뷰맜샭죋뫍믹뷰돖폐쒿잰ꎬ뛔웵풼탍쮽쒼믹뷰맜컱ꎬ횱뷓평믹뷰돖폐죋싄탐쓉쮰죋횮볤뗄뚩솢벯뫍럖엤뗄웵샭죋뫍돖폐죋죧뫎헷쮰쫇헹싛틥컱벴뿉ꆣ풼헢튻닣쏦뗄램싉탐캪훐ꎬ퓲평뷏뛠뗄컊쳢ꆣ죕잰ꎬ컒쏇퓸폶떽쇭췢튻훖맛뗣죏캪ꎬ퓚웵풼뫏춬램뷸탐맦랶ꆣ쮫랽싄탐벯튻룶뗤탍낸샽ꎺㄱ캻춶헟ꎨ웤탍쮽쒼믹뷰뗄춶퓋ퟷ훐ꎬ뿉틔뫍럖엤뷰튲믡닺짺폐맘뗄쓉훐폐ퟔ좻죋튲폐램죋웳튵ꎩ붫뮮럖캪솽룶닣쏦뗄램싉맘쾵뫍쮰틥컱ꎬ죧믹뷰돖폐죋좡뗃쮽쒼뷰뫏볆풼ㄮ?틚풪틔잩뚩웵풼뗄램싉탐캪ꎺ뗚튻룶닣쏦뗄램싉탐럖뫬뗄룶죋쯹뗃쮰믲웳튵쯹뗃탎쪽붻뢶쒳춶릫쮾ꎬ평룃릫쮾캪쫇믹뷰맜샭죋샻폃쮽쒼뷰쮰뗈ꆣ틔ퟔ벺뗄쏻틥짪릺솽볒짏쫐릫뷸탐춶퓋ퟷꎬ뗚뛾룶닣쏦뗄램틲듋ꎬ듓램싉맘쾵뗄뷇뛈살쮾뗄럇릫뾪뚨쿲랢탐막욱ꎬ쯸뚨싉탐캪쫇믹뷰맜샭죋뫍믹뷰돖뾴ꎬ늻쓜컞쫓믹뷰맜샭죋뗄듦웚싺뫳엗쫛ꎬ믱뗃닮볛쫕틦풼폐죋횮볤뗄뚩솢벯뫍럖엤뗄퓚ꎬ죏캪퓚웵풼탍쮽쒼믹뷰훐믹㈮?틚풪ꎬ평룃릫쮾퓙붫좫늿춶웵풼ꆣ믹뷰맜샭죋뫍믹뷰돖폐죋뷰맜샭죋늻쫇춶퓋ퟷ탐캪뗄쫕틦럖엤룸ㄱ캻춶헟ꆣ뚼쫇쓉쮰훷쳥ꎬ펦내늻춬뗄탐캪ퟮ훕돶뫍쫕틦죋ꎬ뻍늻폃돐떣퓚놾샽훐ꎬ룹뻝횤볠믡엺ힼ싄탐쿠펦뗄쓉쮰틥컱ꆣ춶쿠맘뗄쓉쮰틥컱ꆣ뇘탫돐솽볒짏쫐릫쮾ꆰ럇릫뾪뚨쿲랢탐막욱ꆱ뗄폐맘컄볾ꎬ솽볒짏쫐릫죽ꆢ웵풼탍쮽쒼믹뷰맜죏ꎬ퓚램싉맘쾵짏ꎬ믹뷰맜샭죋샭죋뗄쓉쮰훷쳥뗘캻뻍쫇웵풼탍쮽쒼믹뷰뗄춶퓋쮾럇릫뾪뚨쿲랢탐막욱뿉틔쏦ퟷ훷쳥ꎬ늢돐떣춶탐캪쿠펦뗄쿲믺릹춶헟ꎬ떫늻쓜쏦쿲룶죋컒쏇죏캪짏쫶뗚뛾훖맛뗣뇈쓉쮰틥컱ꆣ춶헟ꎬ쟒랢탐뛔쿳늻뗃뎬맽뷏럻뫏쿖탐뗄램싉맦뚨ꆣ웤듎ꎬ듓틀램훎쮰뗄뷇뛈살룶ꆣ믹뷰맜샭죋쒼벯쇋ㄱ캻춶쫗쿈ꎬ듓램싉맘쾵짏뾴ꎬ죧뾴ꎬ쮰뿮헷쫕뇘탫퇏룱틀헕쮰쫕헟ꎨ믹뷰돖폐죋ꎩ뗄뷰ꎬ샻폃잰컄쯹쫶ꎬ믹뷰맜샭죋샻폃쮽쒼램싉램맦뗄맦뚨뷸탐ꎬ벴쮰쫕쫇웤횤좯춶믺릹뗄램싉뗘캻춳뷰뷸탐춶퓋ퟷ뫍믹뷰맜샭뻟폐램싉룕탔뗄램뚨탐캪ꎬ뇘탫튻짪릺솽볒짏쫐릫쮾뗄럇릫뾪죋폫믹뷰돖폐죋춨맽벯웵풼폐퇏룱뗄램싉틀뻝ꆣ럱퓲ꎬ죧맻뚨쿲랢탐막욱ꆣ뷸탐럖엤쫇솽룶늻춬뗄램싉탐붫믹뷰돖폐죋에뛏캪믹뷰춶뛔룃낸샽ꎬ튻훖맛뗣죏캪ꎬ캪ꆣ헢솽룶닣쏦뗄램싉맘쾵평늻퓋ퟷ뗄횱뷓훷쳥ꎬ컞쫓믹뷰맜샭INTERNATIONAL73TAXATION IN CHINA2010-10
TAX PRACTICE죋뗄듦퓚뫍좨샻틥컱ꎨ냼삨쓉쮰햹뗄폅믝헾닟살뒦샭뗄ꎬ평듋캪쫕죫ퟜ뛮ꆱ뗄맦뚨ꎬ믹뷰맜샭틥컱ꎩ틔벰믹뷰맜샭죋믺릹춶뿉볻ꎬ믹뷰맜샭죋쫕틦놾쫇펦죋춶퓋ퟷ쯹믱뗃뗄쫕틦펦떱헟뗄램싉훊ꎨ믹뷰돖폐죋늻뻟쮰쫕죫ꎬ웵풼탍쮽쒼믹뷰맜샭볆죫믹뷰맜샭죋쯹쫴웳튵뗄웳폐춶솽볒릫쮾럇릫뾪뚨쿲랢죋뗄춶쫕틦춬샭튲펦쫇펦쮰튵쯹뗃쮰펦쓉쮰쯹뗃뛮ꎬ틀램뷉탐막욱뗄램싉훊ꎩꎬ붫틽랢튻쫕죫ꎬ웵풼탍쮽쒼믹뷰맜샭죋쓉웳튵쯹뗃쮰ꆣ쾵쇐뗄램싉컊쳢ꆣ샄폃ꆰ쪵훊훘펦떱틀램싄탐쓉쮰틥컱ꆣ뗚죽ꎬ믹뷰맜샭죋내쮫랽웵폚탎쪽ꆱ풭퓲늢틔듋뷸탐쓉쮰뒦ퟛ짏쯹쫶ꎬ듓램싉맘쾵ꆢ틀풼쿲믹뷰돖폐죋럖엤뗄춶쫕샭쫇뫁컞쮰램룹뻝뗄ꎬ쪵볊쫇튻램훎쮰ꆢ춶뗄뿘훆좨ꆢ틑폐뗄틦ꎬ쓜럱쫓캪믹뷰맜샭죋뗄돉훖캥램뗄탐캪ꎬ듓놾훊짏캥랴쇋쮰램맦뚨뗈뷇뛈살뾴ꎬퟷ캪뛀솢놾럑폃퓚쮰잰쇐횧뿛돽ꎿ컒쏇틀램헷쮰풭퓲ꆣ뗄램싉훷쳥ꎬ웵풼탍쮽쒼믹뷰맜죏캪ꎬ믹뷰맜샭죋쿲믹뷰돖폐뗚죽ꎬ듓웵풼탍쮽쒼믹뷰뗄샭죋뗄쓉쮰훷쳥뗘캻쫇돉솢뗄ꎬ죋럖엤춶쫕틦쫴폚쿲좨틦탔춶퓋ퟷ탐캪뿘훆좨뫍샻틦럖틀램펦떱뻍웤춶퓋ퟷ탐캪싄춶헟럖뫬뗄탐캪ꎬ늻쫴폚ꆶ웳엤솴쳵살뾴?믹뷰맜샭죋뻍쫇웵탐쿠펦뗄쓉쮰틥컱ꆣ죏캪웵풼탍튵쯹뗃쮰램ꆷ뗚냋쳵맦뚨뗄ꆰ웳풼탍쮽쒼믹뷰뗄횱뷓뿘훆죋ꆢ춶쮽쒼믹뷰맜샭죋뗄쓉쮰훷쳥뗘튵쪵볊랢짺뗄폫좡뗃쫕죫폐맘퓋ퟷ훷쳥ꆣ웵풼탍쮽쒼믹뷰캻늻돉솢ꆢ늻뇘싄탐쓉쮰틥컱뗄뗄ꆢ뫏샭뗄횧돶ꎬ냼삨돉놾ꆢ럑뷰뗄춶퓋ퟷ평믹뷰맜샭죋뿘맛뗣ꎬ훷튪쫇믬쿽쇋웵풼탍쮽쒼폃ꆢ쮰뷰ꆢ쯰쪧뫍웤쯻횧돶ꆱꎬ룹훆ꎬ믹뷰맜샭죋샻폃ퟔ벺뗄뺭펪믹뷰뗄솽닣램싉맘쾵ꎬ뫶쫓쇋쮰뻝ꆶ웳튵쯹뗃쮰램ꆷ뗚쪮쳵맦쓜솦ꆢ춶훊뗈폅쫆춶퓋ퟷ뿮틀램헷쫕뗄램싉룕탔ꎬ놾훊짏뚨ꎺ늻뗃퓚쮰잰뿛돽ꎬ뛸펦쿈췪쮽쒼믹뷰틔믱좡쫕틦ꆣ뿉틔뾴쫇튻훖캥랴쮰쫕램싉램맦맦뚨쮰ꆢ뫳럖뫬ꆣ돶ꎬ좡뗃쫕틦뗄맽돌뿉틔뮮럖캪뗄캥램탐캪ꆣ믹놾룮쇑뗄솽룶늽훨?튻쫇믹뷰컥ꆢ웵풼탍쮽쒼믹뷰돖맜샭죋춶믱좡쫕틦?뛾쫇믹뷰쯄ꆢ웵풼탍쮽쒼믹뷰맜폐죋뗄쮰컱뒦샭맜샭죋붫믱좡뗄춶쫕틦쿲믹샭죋뗄쮰컱뒦샭뗚튻ꎬ죧맻믹뷰돖폐죋쫇램뷰돖폐죋럖엤ꆣ볈좻쫇쿈평믹뷰뗚튻ꎬ퓚웵풼탍쮽쒼믹뷰죋웳튵ꎬ룹뻝ꆶ웳튵쯹뗃쮰램ꆷ맜샭죋믱좡춶쫕틦퓙쿲믹뷰훐ꎬ믹뷰맜샭죋퓋폃쯹쒼벯뗄뗚쇹쳵ꎬ믹뷰돖폐죋펦붫좡뗃뗄돖폐죋럖엤춶쫕틦ꎬ샭펦죏뚨뷰뷸탐춶ꎬ튪뻍웤춶뺭펪탐춶쫕틦볆죫웳튵뗄펦쓉쮰쯹믹뷰맜샭죋ퟷ캪춶퓋ퟷ뗄춶캪뷉쓉춶뮷뷚뗄쇷쮰ꆣ뇈뗃뛮ꎬ틀램뷉쓉웳튵쯹뗃쮰ꆣ훷쳥ꎬ췪쮰뫳퓙쿲믹뷰돖폐죋죧ꎬ쮽쒼믹뷰춶막욱ꆢ햮좯뗈뗚뛾ꎬ죧맻믹뷰돖폐죋쫇룶럖엤춶쫕틦ꆣ뷰죚짌욷뗄ꎬ룹뻝ꆶ펪튵쮰퓝탐죋ꎬ룹뻝ꆶ룶죋쯹뗃쮰램ꆷ뗚뛾뗚쯄ꎬꆶ닆헾늿?맺볒쮰컱ퟜ쳵샽ꆷ뗚컥쳵뗚쯄뿮맦뚨ꎬ펦틔쳵ꎬ믹뷰돖폐죋쯹믱뗃뗄춶뻖맘폚웳튵쯹뗃쮰죴룉폅믝헾싴돶볛복좥싲죫볛뫳뗄폠뛮캪쫕틦펦룃내ꆰ웤쯻쯹뗃ꆱ뷉쓉룶닟뗄춨횪ꆷꎨ닆쮰嬲〰㡝?뫅ꎩ맦펪튵뛮뷉쓉펪튵쮰ꆣ퓙뇈죧ꎬ쮽죋쯹뗃쮰ꎬ평믹뷰맜샭죋듺뿛뚨ꎺ뛔횤좯춶믹뷰듓횤좯쫐쒼믹뷰춶랿뗘닺뗄ꎬ튪룹뻝랿듺뷉ꆣ뎡훐좡뗃뗄쫕죫ꎬꆭꆭ퓝늻헷컝쫛볛뷉쓉펪튵쮰ꎻ춶풭폍ꆢꆡꆡ쫕웳튵쯹뗃쮰ꎬꆭꆭ뛔횤좯춶쳺뿳쪯뗈폐탎뚯닺뗄ꎬ틀램뷉쓉ꆡꆡ퓰죎뇠벭ꎺ훜†폅믹뷰맜샭죋퓋폃믹뷰싲싴막퓶횵쮰ꎻ춶짏쫐릫쮾막좨뗄ꎬ욱ꆢ햮좯뗄닮볛쫕죫ꎬ퓝늻헷쫕틀램늻탨뷉쓉쇷쮰ꆣ웳튵쯹뗃쮰ꆣ헢쫇냑뛔릫쒼믹뗚뛾ꎬ틀뻝ꆶ웳튵쯹뗃쮰램ꆷ뷰맜샭죋뗄춶쫕틦ꆰ퓝늻헷뗚쇹쳵ꆰ웳튵틔믵뇒탎쪽뫍럇믵쫕ꆱퟷ캪맄샸횤좯춶믹뷰랢뇒탎쪽듓룷훖살풴좡뗃뗄쫕죫ꎬ74INTERNATIONALTAXATION IN CHINA2010-10
