Contractual private equity funds are not taxpayers themselves. The contract is actually financial management for customers, that is, trust. The trustee is not the real owner of the property, but the real owner of the property is the beneficiary.

At present, China's tax policy on trust is only a pilot tax policy for securitization of bank credit assets. When the income of a trust company is distributed to investors in the current year, no enterprise income tax is levied on the trust link.

Extended data:

The specific operation method of contractual private equity fund is:

(1) As the manager of the fund, the sponsor chooses a bank (not the business department of the brokerage firm) as its custodian;

(2) raise a certain amount to start operation, open it once every once in a while, announce the net value of the fund to the fund holders, and redeem the fund once;

(3) Fund managers charge a certain management fee according to their performance. In order to attract fund investors, the handling fee should be as low as possible.

Of course, if the regulatory situation is relatively loose after the implementation of the future investment fund law, it can also take a flexible form. The specific approach is:

(1) Each fund holder opens a sub-account in his own name;

(2) The fund holders * * * jointly contribute to form the main account;

(3) As the manager of the fund, the securities company manages all accounts in a unified way, and all accounts calculate the net value of fund shares in a unified way;

(4) The securities company tries to make the actual market value of each account equal to the market value calculated according to the net value of fund shares. If they are not equal, the balance will be transferred by the fund difference between the main account and the sub-account at the time of redemption.

Baidu Encyclopedia-Contractual Private Equity Fund