A Study On Regional Financial Industry 's Tax Policy Affecting Regional Financial Competitiveness

As a major part of the tertiary industry, the improvement of the financial industry represents a higher level of funding and even a higher level of the operating speed of overall economy. It provides a good boost for the development of the secondary and tertiary industries, so that the overall level of regional development has been improved. Therefore, the regional financial competitiveness is a key element for regional development. Tax reform changes the role of taxes at corporates, society and individuals which are in the present economic environment through the designation of the tax system, tax rates and the change of taxation form. As one of an important tools of national macroeconomic regulation, the influence of tax adjustment is particularly impressive. A slight change in tax policy may have an important role in guiding an industry and the whole economy.Thus, the study of the impact of financial tax reform for regional financial competitiveness has a certain practical realistic significance.This paper started from the route of the impact of tax reform to financial competitive combining with the theory of tax reform and analyze the internal mechanism of its effects. Then constructed indicators of tax reform and financial competitiveness index system. Calculated comprehensive evaluation score using factor analysis of the financial competitiveness index as dependent variables. Using the tax reform indicators as independent variables. And building space Dorbin model with economic distance matrix to analyze the impact of tax reform to the financial competitiveness. The results show: Financial tax reform has a strong impact on financial competitiveness; and corporate income tax inhibited on the regional financial competitiveness; corporate income tax has a negative externality, increasing of the tax will lead to financial resources outflow; financial regulatory expenses can promote the regional financial competitiveness, but financial supervision is over the governmentled and there are large gap between the degree of change of each region, and the spatial spillover effect is not obvious; business tax and stamp duty on securities transactions and the competitiveness of the regional finance have a positive relationship in direct and spatial spillover aspects increased "Kaldor- Hicks efficiency", these kind of taxes and their forms are to be continued improvement and development.The innovation of this paper is to explore the different geographical spillover effects of the financial tax system, thus affecting the regional financial competitiveness. Research results suggest that our financial tax in promoting regional financial competitiveness is still have a great room for development. The reform of financial tax system should be continued with the development situation of the times and the economy.