The Transformation Of Value-added Tax To The Influence Of The Enterprises Financial Performance

On July1,2004, our country took the transformation of VAT in eight big industry (equipment manufacturing, shipping manufacture, petrochemical industry, metallurgy industry, automobile manufacture, agricultural product processing industry, military industry and new and high technology industries) in three northeast provinces and dalian city, the income tax of fixed assets purchased after July1,2004was permitted to deduction by the New Year sell tax (the so-called incremental deduction); Then on July1,2007, the VAT transformation pilot promoted in the six provinces of central China of26industrial city, and to accord with the characteristics of these areas, ship manufacturing and military industrial were replaced by mining and electric utility, still executed incremental deduction policy; On July1,2008, the five union city of eastern Inner Mongolia and the area of Wen Chuan earthquake disasters in serious were into the scope, Wen Chuan area was for the first time allowed by a full touch buckle policy; On July1,2009, our country formally implement the standard consumption-based value-added tax in all domestic industry range, the enterprises' income tax was allowed deduction by income tax from the current when sell a duty.This round of VAT transformation not only significant to our country's macro economic and financial tax, but also effect the operation and investment activities of enterprise in the micro level:as a direct object of the transformation policy, the tax levels, investment and financial performance and many other factors of enterprise are bound to change.In order to comprehensively and deeply understand the actual effect of VAT transformation on enterprise financial status, our research base on the predecessor's research achievement, combining the theory analysis and empirical research, firstly discussed the mechanism theory about the influence which enterprise financial effected by VAT transformation, then through the combination of central and northeastern regions during the transformation of enterprise sample data, and by using descriptive statistics, matching sample T test and multiple regression method, we researched the short and long influence of financing performance effected by VAT transformation. From the results of the study we can know that, in the short term, the net assets yield rate and total asset yield level is obvious; Rights multiplier, sales net interest rate declined slightly. And in the long term, the enterprise sales net interest rates, net assets income and the Rights multiplier in different degree of ascension multiplier, and the total assets turn the small scale ascension than short term; by the further help of regression analysis, the result shows that, to enterprises'ROE, the most significant sectors were VATR, CFPS, NPS and INS. Overall, the VAT transformation promoted our country enterprise's financial performance level up.