自20世纪90年代中期以来,纳税筹划的观念逐渐受到人们的重视。尤其是随着全球经济一体化趋势的明朗化,各国企业并购的浪潮一浪高过一浪。作为迅速扩大市场份额、形成规模效应、节约经营成本的一个有效手段,并购日益受到跨国公司的青睐。并购是一个相当复杂的过程,而并购成本的高低直接影响到并购能缶成功。并购类型、出资方式和融资方式的选择,是企业并购过程中最重要的三个阶段。 Since the mid 90s of the 20th century, the concept of tax planning has gradually attracted people’s attention. Especially with the trend of global economic integration has become clearer, the wave of mergers and acquisitions in many countries wave after wave. As an effective means to rapidly expand market share, form economies of scale and save operating costs, M & A is increasingly favored by multinational corporations. M & A is a very complex process, and the level of M & A costs directly affects the success of M & A. The type of M & A, the mode of capital contribution and the choice of financing method are the three most important stages in the process of M & A.