The Study On Tax Planning Of Listed Company With Different Property

The term "tax planning" comes from the British" Duck of Westminster v.Commissioners of Inland Revenue" case in 1935.In China,from the nineties of the twentieth century,the researches about how to conduct tax management in order to achieve the organization's strategic objectives and the influencing factors of enterprise tax planning behavior have began to spring up in large numbers.Tax planning has been developed rapidly,many theory elites always have been devote themself to related researches,at present many large-scale conglomerates set up tax department to carry out tax planning.Based on the empirical analysis,this article selects the listed companies of Shanghai and Shenzhen A-shares from 2011 to 2015 as a sample,and obtains the required financial data with the WIND database.At the same time,I used the network to collect some missing data and SPSS statistical software for empirical testing.It is divided into two parts:the one is selecting corporate tax burden rate(TB)for the explained variable to explore the tax planning influence factors.TB is mainly related to profitability,financial leverage,corporate size,operating conditions and capital intensity,so it verifies the impact of these factors on the TB through descriptive statistics and regression analysis,and then it will speculate the degree of influencing tax planning aspiration.The other one is choosing the corporate effective tax rate(ETR)and tax economizing(TE)to be the explained variables for researching the different tax planning behaviors between state-owned enterprises and private enterprises,central enterprises and local state-owned enterprises.It divided into two studies to compare the four types of firms,and carry out the descriptive statistics by obtaining the mean value,the maximum value,the minimum value and the standard deviation of each variable.Afterwards,using Pearson-test to determine whether there is a significant correlation between the variables and determine the direction of correction.Next,using T-test to verify whether there is a significant difference among the four kinds of enterprises.And then,based on the theory of property right characteristic and tax planning,it puts forward the hypothesis,model,and uses descriptive statistics and regression analysis to explore the companies' tax planning behaviors.Through the research of this paper,the following conclusions are drawn.First,based on the different nature of property rights,private enterprises will take a positive tax planning behavior.Compared with the state-owned enterprises,the private enterprise's principal-agent relationship is clear and simple,so the financial cost and other non-tax costs are lower,which makes it have a stronger tax planning motivation.The business goals of state-owned enterprises(including central enterprises and local state-owned enterprises)include economic and political goals,private enterprises only have economic goals,so private enterprises have a stronger tax planning motivation;The state-owned enterprises concentrate mainly on monopolized industry,which lead to a weaker competition;The state-owned enterprises(including central enterprises and local state-owned enterprises)have a higher degree of political connection,in the context of the construction of "combat corruption and uphold integrity",enterprises will be concerned by tax regulators and auditing departments that will make them carrying out more conservative tax planning.Second,local state-owned enterprises will carry out more conservative tax planning behavior.The selection and promotion of magistrate is related to performance which brings about fierce competition.Since 2014,"Dividend policy"and delegating tax authority to local government make central enterprises to use of taxation means creating vanity projects.By researching the tax planning behavior under different nature of property right,it gets in the following innovations.(1)This article analyzes the tax burden of state-owned enterprises(including central enterprises and local state-owned enterprises)and private enterprises by theoretical and empirical analysis,further clarifies the relationship between property arrangement and corporate tax burden.This is a major innovation of this article.(2)This article uses ETR and TE to be on behalf of the tax planning behavior that will solve the problems of that tax planning behavior is hidden,not open and difficult to quantify,and then make quantitative analysis of corporation tax planning tendencies.(3)This research validates the influencing factors of tax planning behavior.Following the research of property rights arrangement and tax planning behavior,it is more scientific,rigorous and convincing.There are many theoretical and practical significance:First,based on the empirical analysis,this article draws a conclusion that the influence factors of tax planning,putting empirical study into use in this aspect.Secondly,the study of tax planning on listed company with dififerent property enriches theoretical research.Thirdly,the study provide a model reference for the companies to choose suitable tax strategy.Fourthly,this article goes into the difference effective tax rate(ETR)and tax economizing(TE)of the companies with different property which makes it is clear on the diversity.Finally,this article provides a reference of tax policy-making for supervising or supporting corporate.