摘要:企业并购的税收筹划是指在企业兼并与收购过程中，在不违反法律、法规的前提下，通过对并购活动的涉税事项做出事先安排，以达到少缴税或递延纳税目标的一系列谋划活动。合理的税收筹划不仅可以降低企业的并购成本，实现企业并购的最大效益；也能促进企业未来的发展，对合并后企业的生存起着关键作用。因此，并购活动的加速发展迫切需要税收筹划作为其有力的决策工具。
以我国现行的会计、税法法规政策和实际情况来讲，对企业的并购活动进行税收筹划，可以从以下几方面进行。首先，分析目标企业所处行业、财务状况及其享受的税收优惠情况；其次，对并购的支付方式进行分析选择；接着，对企业的资本结构进行规划，从而确定融资方式及其债务比例；最后，对目标企业被并购后的组织形式进行选择筹划。在联想收购IBM时，正是对以上税收筹划策略的正确使用，才大大减少了并购成本，增强了企业并购后的竞争力。
然而，收益与风险是并存的整体，对企业并购活动进行税收筹划会存在政策、操作、成本效益不匹配及执法等风险，这就要求筹划人员应及时、系统学习税收政策，在准确理解的基础上进行合理预测；其次，应注重综合性，全面考虑各个税种之间此消彼长的联系，以及筹划方案对企业并购后经营的整体影响和长远影响；最后，企业应聘请税收筹划专家，以确保筹划方案的权威性和科学性，特别是对企业经营起着决定性作用的并购活动。
关键词：并购；税收筹划；策略；联想收购案
Abstract:Tax planning of enterprise mergers refers to a series of activities, which happens in the process of merger and acquisition, without violating the laws and regulations, through prior arrangements for tax-related matters occurred in the merger and acquisition activities, in order to achieve the goals of less tax or deferred tax. Reasonable tax planning not only reduce the acquisition cost of the enterprise, achieve the biggest benefits of the acquisition, but also promote the future development of the enterprise, play a key role in the enterprise survival after the merge. So, rapid development of Merger activities have an urgent need to make tax planning as its powerful decision-making tools.
To our current policy of accounting, tax law and actual situation speaking, tax planning of enterprise merger activities can be made from the following areas. First, analyze the target enterprise’s industry, financial status and tax benefits; second, analyze and select the payment method of merger; then, plan the enterprise's capital structure, so as to determine the financing ways and the debt ratio; finally, select the target enterprise’s organization form after the merger. It is the correct use of the above tax planning strategies, greatly reduces the merger costs and enhanced the enterprise’s competitiveness when the Lenovo purchased IBM.
However, proceeds and risk is the coexistence of whole. There will be the policy, operation, benefit not matching cost, and law enforcement risks in the tax planning activities. It requires planner studying tax policy timely and systematically, and gives reasonable forecast on the basis of accurately understanding; secondly, should pay attention to the comprehensiveness, consider all the contact between each tax, and the overall and long-term effect after merger by the planning scheme; finally, the enterprise shall invite tax planning experts to ensure that the planning scheme is authoritative and scientific, especially for the mergers, which play a decisive role in the enterprise management.
Keywords: Merger; Tax Planning; Strategy; Lenovo Deal
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