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《大行報告》大摩料阿里(09988.HK)2022財年有效稅率調升至23%
阿思達克 08-05 15:25
摩根士丹利發表研究報告指,阿里(09988.HK)(BABA.US)及一眾科技公司2021財年未有被中國當局評為重點軟件企業,預期未來企業所得稅將上升,失去部分減免優惠後,阿里2022財年有效稅率(ETR)將由2021財年的17.7%,升至23%。 該行指,根據中國相關稅務優惠政策,符合條件的軟件企業可享受企業所得稅減免優惠,目前本地及外資公司企業所得稅率為25%,高新技術企業可享優惠所得稅率15%,重點軟件企業則減按10%稅率徵收企業所得稅。 大摩認為,阿里未來仍會嘗試申請重點軟件企業資格,但將取決於政府是否批准,目前集團多家實體仍享有高新技術企業認定,若2021財年撇除相關稅率調整,全財年ETR將升至21%,當中有部分是由於虧損業務未能扣稅。 大摩繼續給予阿里美股「增持」評級,目標價270美元。
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