融券交易在我国晚近发展起来的创新金融业务之一,随之也引发了相关收益的课税问题。税收是重要的经营成本,融券交易当事人所承担的税负高低,将直接影响其最终的收益,进而影响到市场主体投资于该项交易的意愿。融券交易各环节发生的经济活动,包括标的证券在当事人之间的交付与返还、融券费用与补偿费用的支付、融券方转让标的证券等,均有必要考察其是否属于应税交易。 One of the innovative financial businesses recently developed in China is the issue of tax levying on related proceeds. Taxation is an important operating cost. The tax burden borne by parties involved in securities lending transactions will directly affect their ultimate income, thus affecting the willingness of market participants to invest in the transaction. It is necessary to examine whether economic activities such as the delivery and return of the underlying securities between the parties, the payment of the securities lending expenses and compensation fees, the transfer of the underlying securities by the securities lending parties, etc., are all subject to taxable transactions.