論主權財富基金的所得稅豁免－－以美國的實踐為例

On the Income Tax's Exemption of the Sovereign Wealth Funds - Taking the Example of the Practice of USA

根據美國《國內稅收法典》，主權財富基金於外國政府定義下的外國主權者的完整部份或受控制的實體，具有所得稅豁免的主體資格。主權財富基金投資美國境內的股票、債券或其他證券等類別的收入享有所得稅豁免的機會，但從商業活動中獲取的除外。

According to the Internal Revenue Code of USA, the Sovereign Wealth Funds, which constitute integral parts or controlled entities of foreign sovereign in the definition of foreign government, have the qualification of income tax's exemption. The incomes come from stocks, bonds or other securities which have been invested in the USA by Sovereign Wealth Funds have the chance of exempting of income tax, but those come from commercial activities are not qualified.