The Tax Research Of Companies Listed On GEM

Corporate tax has always been a major issue in the current economic. Increasing taxrevenues is in favor of China’s economic construction and social development, butreducing the tax burden on businesses can promote enterprise development. How can weensure that not only guarantee the China’s fiscal revenue, but also reduce the tax burden topromote enterprise development, which is the focus of the government and scholars’research. This paper studies the tax of the companies listed on GEM from thecharacteristics of corporate finance perspective and the example of the companies listed onGEM, aimed to provide recommendations for tax planning and tax avoidance oncompanies listed on GEM.This paper focuses on the relationship of the companies listed on GEM betweenfinancial characteristics and the tax burden. The paper on the basis of the relevant literaturecarding, drawing on research methods developed，using the corporate tax burden, makesassumptions based on corporate financial characteristics from this perspective. Selectwithin the scope of the definition of corporate financial characteristics index, namely firmsize, debt ratio, profitability and capital-intensive research as independent variables, andselect the company integrated tax rate as the dependent variable to establish research model.Make regression analysis by SPSS statistical software for1189companies from2009to2013listed on GEM, and draw the following conclusions：First, descriptive statistical analysis shows that overall tax rate of companies listed onGEM is a downward trend in general;Second, from the perspective of enterprise financial characteristics, draw theconclusions: corporate relationship between size and the company consolidated tax rate iscomplex. To the logarithm of total assets as a result of the scale of measurement methodsshow that the size of the company is positively correlated with the corporate tax rates, inline with the political cost hypothesis. To the logarithm of revenue as a result of the scaleof measurement methods show that the size of the company is negatively correlated withthe corporate tax rate, consistent with the political influence hypothesis. The total assets net profit margin of the company shows a positive correlation with the company integrated taxrate and Asset-liability ratio and capital intensity show a negative correlation with thecompany integrated tax rate.Proposed based on conclusions: enterprises should establish tax consciousness, taxplanning by debt tax shield and non-debt tax shield.