The Research On The Effect Of Listed Companies In Petrochemieal Industry Caused By VAT Transformationon

At present, the value-added tax plays an important role in the tax system of our country;it is one of the Chinese main taxes. Value-added tax revenue occupies a large proportion in thetax revenue of the state even in the whole national finance income. In2009January, thenationwide implementation of consumption-based value-added tax realized the transformationof China’s value-added tax from production type of VAT to consumption value-added tax. It isnecessary that we use the financial data of listed company in Petrochemical industry, which isrepresentative, to analyze the influence of VAT transformation in the listed company taxburden, fixed assets investment, operating performance and other aspects.This paper makes the listed companies in petroleum chemical industry as the researchsubject, and ransformation of value-added tax as the object of study.Building on previousresearch and using the method of combining normative research and empirical research, thispaper analyses the impacts of the transformation of value-added tax on the petroleumchemical listed company. Firstly, it introduces the review of domestic and foreign studies ofVAT transformation, and introduces in detail about the basic theory about VAT and VATtransformation, Then, It put forward the research idea. Secondly, through the normativeresearch, this paper theoretically analyses impacts of VAT transformation in tax burden,fixed asset investment and financial performance on the petroleum chemical listed company.Then, through the real data to test this result, this article select84petrochemical industrylisted companies in2006-2011as sample. By selecting the actual tax burden, the growth rateof fixed asset investment, earnings per share and using SPSS17.0, This article makesdescriptive analysis, paired T-test, correlation analysis and multiple regression analysis, todraw the conclusion that the transformation of value-added tax makes effects on listedcompany. In addition, because of the transformation of value-added tax, some othersignificant factors of the listed company performance have changed. At the end of the article,it points out the problems in current value-added tax policy and puts forward relatedsuggestions.