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Preliminary Study on Legislation of offshore trust tax avoidance

Author: HuZhongZuo
Tutor: ZhangNaiGen
School: Fudan University
Course: Legal
Keywords: offshore trust tax avoidance legislation The Hague Convention
CLC: D922.22
Type: Master's thesis
Year: 2009
Downloads: 57
Quote: 1
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Abstract

Trust is inherently used to circumvent the law, in particular, while the fusion of modern achievement of financial liberalization and economic globalization, offshore trusts are more fully embodies the characteristics of its circumvention of the law. Today, with the vigorous development of multinational group of companies to use offshore trusts in international tax avoidance, it has become increasingly popular. Many multinational taxpayers regard the establishment of offshore trusts in tax havens as the primary means of international tax avoidance. The implementation of offshore trusts tax avoidance has resulted in the rapid loss of national revenue, the dysfunction of government’s macroeconomic regulation and control as well as the chaos of trust market. At the same time also because of the unfair actual tax burden among tax avoidance and legitimate payment, thereby violating the tax laws of justice in real term. As a starting point, the article analyzed regulation of offshore trust tax avoidance trough the legislation in China and put forward anti-circumvent measures and suggestions.The paper is divided into four chapters. The first chapter described the concepts of the offshore trust, focused his remarks on international coordination function of "the Hague Trust Convention" in offshore trust laws section, as well as explained offshore trust tax avoidance methods, hazards and the definition. The second chapter discussed the importance of solving offshore tax avoidance by introducing Substantial tax theory from the perspective of tax law, and made substantial tax law principle to the trust basic principle, that is the real beneficiaries the principle of taxable and forms of transfer taxation the principle of non-taxable. The third chapter compared and analyzed the legislative measures of the main offshore trust industry in developed countries on anti-offshore trust tax avoidance, the basic principle of dealing with offshore trust cases trough the "Hague Convention" and the national legal system and the anti-avoidance provisions of international bilateral tax treaty. The fourth chapter raised the proposals of regulation offshore tax avoidance by legislation in general framework, mainly including the legislative purpose and principles, the offshore trust relationship’s tax liability, anti-tax avoidance laws apply to offshore trust and international cooperation in the bilateral tax treaty and so on.

Preliminary Study on Legislation of offshore trust tax avoidance

Abstract

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