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根据美国《国内税收法典》,主权财富基金属于外国政府定义下的外国主权者的完整部分或受控制的实体,具有所得税豁免的主体资格。主权财富基金投资美国境内的股票、债券或其他证券等类别的收入享有所得税豁免的机会,但从商业活动中获取的除外。具体而言,首先,构成外国主权者完整部分的主权财富基金从事商业活动的所得或从受控制的商业实体中获取的所得不能免税;其次,作为受控实体的主权财富基金一旦从事商业活动就成为受控商业实体,就不得主张任何外国政府税收豁免。尽管存在如上诸多限制,主权财富基金仍有必要利用美国税法的规定,争取更多的免税机会。
Under the Internal Revenue Code of the United States, sovereign wealth funds are an integral part or controlled entity of a foreign sovereign under the definition of a foreign government and qualify as the subject of income tax exemption. Sovereign wealth funds that invest in stocks, bonds or other securities in the United States have income tax exemptions, except for those acquired from commercial activities. Specifically, first of all, the sovereign wealth funds that form an integral part of the foreign sovereign may not be tax-exempt from the proceeds of commercial activities or from the controlled commercial entities. Second, once the sovereign wealth funds that are controlled entities engage in commercial activities As a controlled commercial entity, you can not claim any foreign government tax exemption. Despite these limitations, there is still a need for sovereign wealth funds to take advantage of U.S. tax laws and seek more tax-exempt opportunities.