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Non-renewability of petroleum leads to competition among petroleum enterprises. Because of the strategic status of petroleum energy, competition among petroleum enterprises not only impacts on their own development, but also involves nation
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Submitted On: 04-01-2010 | Views:
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Non-renewability of petroleum leads to competition among petroleum enterprises. Because of the strategic status of petroleum energy, competition among petroleum enterprises not only impacts on their own development, but also involves national economic security. So it plays an important role in the development of national economy. At present, a heavy cost burden is imposed on Chinese petroleum enterprises by the sustaining increase in the extent of dependence upon petroleum import. The fulfillment of Chinese commitments, which made upon entrance into WTO, has also led foreign multinational petroleum enterprises to flood into Chinese market. Sustainable development of Chinese petroleum enterprises faces growing pressure and resistance. In the circumstances, Chinese petroleum enterprises speed up process of strategy adjustment, the core of which is reducing cost to increase benefit, recombination, and exploitation of overseas market, and they are paying special attention to revenue and cost of their own. Burden of taxation is an important component of the cost in Chinese petroleum enterprises. Effective tax planning contributes to reduce of business cost, implementation of business strategy, and enhancement of market competitiveness. But until now, the study on tax planning in Chinese petroleum enterprises has not yet formed systematic and mature theories. For these reasons, this dissertation tried to focus on related issues on tax planning in petroleum enterprises in order to outline the general framework of tax planning in Chinese petroleum enterprises.In this dissertation, with the method of theoretical analysis and empirical study, tax planning in petroleum enterprises is studied carefully from a business perspective. Beginning with analyzing meaning and principles of tax planning, this dissertation illustrated necessity and feasibility of carrying out tax planning in Chinese petroleum enterprises, considering features of petroleum enterprises and the tax environment in which the petroleum enterprises live. And then the dissertation analyzed and commented on current taxation policies which are applied in Chinese petroleum enterprises and its direction of reform in order to determine the planning objects and key issues of carrying out tax planning in petroleum enterprises. Finally, on the basis of the above two parts, this dissertation built the general framework of tax planning in Chinese petroleum enterprises, considering the implementation of business strategy. According to different objects of tax planning, this dissertation organized the framework as two levels: the policy planning and the business planning. In the policy planning, this dissertation analyzed methods, effects, and scope of application of policy planning by the case of value-added tax planning in CNPC. This dissertation also indicated that the policy planning, which makes tax policy as planning object, is a high level of tax planning in petroleum enterprises. In the business planning, this dissertation analyzed tax planning issues related to financing, investment, production management, other routine business activities, mergers and acquisitions, and international operation, given characteristics of petroleum enterprises and the existing tax policies.
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