Empirical Study And Optimization Suggestion On The Tax Revenue Of Enterprise Income Tax

National Equities Exchange and Quotations is the capital market providing the innovative small and medium micro enterprises with equity transfering facilities and other financial accommodations, expanding financing channels for SMEs to establish a multi-level capital market.This paper introduces the characteristics, the industry and region distribution of the NEEQ, calculates the effective tax rate of the enterprises listed on the NEEQ, and compares the ETRs of the enterprises classified by industry and region, finding that generally the ETRs of the enterprises listed on the NEEQ are lower than nominal tax rate, and the tax incentive policy has some effect, however, there are still some industries like service industry, and some regions, like west region, didn’t benefit from the tax incentives fully. This paper then selects the enterprise’s size, ROA, debt to assets ratio, and CAPINT as variables, to regress the ETRs of the enterprises, the results of the regression reflect that the size variables have positive relationship with ETRs, the ROA and debt to assets ratio have negative relationship with ETRs, the CAPINT doesn’t have significant correlation with ETRs. The regression results reflect that considering the enterprise’s figure and reputation, the bigger the enterprise is, the higher tax compliance the enterprise has, the higher the ETR of the enterprise is; the enterprise with high profitability, can has low ETR; the financial leverage can reduce the ETR effectively, but the fixed assets accelerated depreciation policy doesn’t have significant effect in the NEEQ market. Financially, this paper provides suggestions on stimulating the development of the NEEQ from the aspects of policy designing and enterprise’s inner management. The suggestion including enriching the tax incentive policy, heightening the tax levy service, optimizing the tax levy system, extending financing channel of the enterprise from the aspect of policy designing, and heightening the tax designing and profitability capability, arrange the financial structure reasonably from the aspect of enterprise’s inner management.