M&Aの過程では様々な税務課題が生じます。
M&Aの交渉を進める上で、税務への影響を考慮し、それを基に交渉の大枠を設定することが重要です。
この記事では、M&Aにおける税務の重要性と、M&Aを通じて発生する可能性のある税金の種類について説明します。
税務担当者が把握しておくべき注意点の中から、特に重要な要素を選びまとめています。
これらの情報は、M&Aのプロセスを進める際の有益な参考資料となるでしょう。
M&Aにおける税務の必要性
M&Aでは税務の業務が非常に大きな役割を果たします。
まずはM&Aにおける税務の必要性について確認しておきましょう。
M&Aで発生する取引には税金がかかる
M&Aをするとさまざまな種類の取引が発生します。
株式の譲渡や不動産の売買、配当の支払いや繰越欠損金の計上などが代表的です。
日本の税制では、非課税取引や不課税取引に該当しない限りは税金を納める義務が発生します。
M&Aのプロセスではスキームに応じて複数の取引が発生するため、それぞれに対して適切な税額を算出して納税しなければなりません。
特に譲受側はM&Aによって資産を手に入れることが多いため、税務負担が大きくなりがちです。
全体像を把握して、どのように税務を進めていくかをプレPMIの時点から検討する必要があります。
税務デューデリジェンスは欠かせない
M&Aのプロセスでは、税務デューデリジェンスが欠かせません。
譲受側は、譲渡側が抱えている税務上の問題を理解し、それを基にM&Aを進めるべきか否かを決定するのが一般的な手順です。
譲渡側が税務を適切に処理していなかった場合、それは文書調査だけで明らかになることもあります。
M&Aをしたときは、追徴課税も含めてどのように納税するかを検討しなければなりません。
税務デューデリジェンスを通してM&Aの合理性を評価し、評価価額の決定をするためには税務担当者の貢献が必要です。
M&Aの節税対策ができる
M&Aはスキームによってかかる税金に違いがあります。
株式譲渡、事業譲渡、会社分割、合併などのさまざまなM&Aのスキームがあり、どの方法を選ぶかによってリソースの移動のあり方が変わります。
M&Aのスキームに合わせて節税対策をすることもできるため、譲受側だけでなく譲渡側もベネフィットを生み出すことも可能です。
M&Aを熟知し、スキームによる税金の違いを理解してストラクチャーを構築すると、両社のメリットを最大化できます。
M&Aで発生する税金の種類
M&Aで税務が重要なのは成立時点ももちろんのこと、PMIを進めていくプロセスの中で多岐にわたる税金が発生する場合が多いからです。
M&Aで発生する税金として典型的なものだけでも以下のように多数あります。
- 所得税
- 住民税
- 復興税
- 法人税
- 地方法人税
- 特別法人事業税
- 法人事業税
- 法人住民税
- 贈与税
- 相続税
- 不動産取得税
- 登録免許税
- 印紙税
- 消費税
M&Aでは例えば、個人株主が株式譲渡をすることによって所得税や住民税などがかかります。
法人株主の場合には、法人税や地方法人税、地方住民税などを納めなければなりません。
M&Aによって不動産の取引がある場合には、不動産取得税や登録免許税、印紙税などがかかります。
また、繰越欠損金などが発生する場合にも税金の負担があります。
このように多岐にわたる税務が発生するため、M&Aでは税金の金額と税務業務の負担を考慮して進めるのが重要です。
M&Aの税務で留意すべきポイント
M&Aは税務担当者が広い視野で対応する必要があります。
PMIでどのように進めるかも念頭に置いて、以下のポイントには留意してストラクチャーを検討しましょう。
M&Aのスキームによって発生する税務が異なる
M&Aには株式譲渡、事業譲渡、合併、会社分割などのさまざまなスキームがあります。
M&Aのスキームによって発生する税務が異なるので注意しましょう。
株式譲渡と事業譲渡は国内M&Aでよく選ばれるスキームですが、税率だけ考えると個人株主からの株式譲渡では20.315％で済みます。
しかし、事業譲渡の場合には法人間での株式譲渡や不動産売買を伴うため、34％程度の税率になってしまいます。
対応しなければならない税目も異なるため、スキームに合わせて納税をすることが必要です。
譲受側も譲渡側で税務が必要になる
M&Aでは、譲受側はM&Aによって資産が生まれるので税務対応は必須です。
しかし、税務の負担があるのは譲受側だけではありません。
例えば、譲渡側もM&Aによって税務対応が必要になります。これには株式の譲渡による税負担や、退職者に対する退職金の税務対応が求められます。
M&Aでは両社が納得するスキームにすることが重要なので、税務負担の全体像を明確にしてPMI計画を立てるのが大切です。
まとめ
M&Aの過程では税務は重要な役割を果たし、プレPMIの段階からPMIの期間まで継続的な負担が伴います。
譲受側と譲渡側の双方に利益をもたらすスキームの選択、そして譲受側のM&Aの実行可否の判断においても、税務は不可欠な要素です。
M&Aが成立した後のPMIでの税務対応も考慮に入れ、それを踏まえてM&Aの検討を進めることが重要です。
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