分类号： UDC： 学校代码：10139 学 号：20211251416 The impact of tax planning on corporate value-A case study of Z Corporation 中文摘要 税收筹划在企业财务管理中发挥着关键作用，其主要目的是有效降低企业税 负，进而提升企业价值。然而，税收筹划可能带来一定的成本，这些成本既包括 直接费用，也包括间接费用，对企业价值产生负面影响。另外，企业的并购重组 活动在全球市场竞争中扮演着重要角色，税收因素在并购过程中起着关键作用。 本研究聚焦于半导体信息欧亿·体育（中国）有限公司，结合国内外的并购重组税收筹划理论，深入分析 了中国并购重组的税收政策和法规，探讨税收筹划在并购全过程中的应用，涵盖 动因、融资方案、支付方式和税收风险等方面。以Z公司的并购重组为例，本文 分析了其税收筹划的关键环节，包括支付方式、资产剥离及整合过程中的税务处 理，并提出了相应的策略和建议。通过研究，可以为企业在并购重组过程中选择 合适的税收筹划方案提供指导。因此，本研究旨在深入探讨税收筹划对企业价值 的影响，以期为企业提高税收筹划效益，增强企业价值作出贡献。 关键词：税收筹划；企业价值；并购重组 Abstract Tax planning is important in the financial management of enterprises, its main purpose is to effectively reduce the tax burden. However, tax planning may bring certain costs, which include both direct and indirect costs, and have a negative impact on business value. In addition, the merger and acquisition activities of enterprises play important roles in the global market competition. Tax factors play a key role in the process of merger and acquisition. Focusing on the semiconductor information industry, this study combined with the domestic and foreign M&A tax planning theories, in-depth analysis of Chinas M&A tax policies and regulations. Taking the merger and reorganization of Z Company as an example, this paper analyzes the key links of its tax planning, including payment methods, tax treatment in the process of asset divestiture and integration, and puts forward corresponding strategies and suggestions. Through the research, it can provide guidance f