Tax Governance of Cross-Border Capital Flows:Concepts,Status Quo,and Approaches
Tax governance of cross-border capital flows is crucial to strike a balance between attracting foreign investment and preventing risks.On the one hand,optimizing tax incentives for a business-friendly environment can improve the ability to attract foreign investment,but it is also necessary to strengthen the administration of investors'tax evasion and avoidance behaviors to prevent the risk of tax loss.On the other hand,achieving financial stability objectives in cross-border capital flows requires the financial risk regulatory functions of tax law.At present,bilateral and multilateral international tax coordination mechanisms play an important role in protecting the national tax interests involved in cross-border investment activities and improving the efficiency of capital allocation on a global scale.Meanwhile,various countries have adopted the following practices to achieve the objectives of tax governance of cross-border capital flows,including implementing tax incentives,strengthening anti-tax avoidance administration,and imposing Tobin tax.In recent years,the tax incentives and risk management of cross-border capital flows have also been increasingly developed and improved in China.In the process of promoting high-level financial opening up,it is still necessary to further enhance the target balance,implementation,and system linkage of tax rules,as well as actively participate in the establishment of cooperative and comprehensive frameworks related to cross-border tax governance.
Cross-border capital flowsTax governanceTax incentivesAnti-tax evasion and avoidanceFinancial risk
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