An Empirical Study On The Tax Restructuring On The Tax And Performance Of Listed Companies In Financial Industry

As the economy marketization and globalization,the boundaries of goods and services tends to be fuzzy,the parallel drawbacks of BT and VAT are increasingly serious,seriously hindered the development of service industry.In order to coordinate the tax system and industrial development,the 12 th five-year plan expand the scope of taxation,From the tax reform in 2012 to the comprehensive implementation of BT to VAT reform on May 1st,2016,it means that the BT will be withdrawn from the historical stage of China's tax system.This thesis uses comparative analysis and empirical analysis to research the effect of BT to VAT reform on the tax burden and performance of the financial industry.First of all,the influence of BT to VAT reform on tax burden and operating performance of the financial industry is analyzed from two aspects: small scale taxpayer and general taxpayer.Secondly,the paired sample T test was used to compare the overall tax burden of the financial industry,and the tax burden difference of the banking,securities and insurance industries before and after the tax reform.Finally,a panel regression model was constructed to study the impact of BT to VAT reform on financial performance,and the robustness test was carried out.Through the research found that: After the BT to VAT reform,the financial overall tax burden has increased,especially the tax burden of the banking industry increased significantly.BT to VAT reform has a significant negative impact on financial performance.Based on the above conclusions,this paper puts forward the corresponding measures from the government and enterprises.From the perspective of government,it includes preferential tax policies,strengthening information sharing among departments,tracking the implementation results of tax reform and controlling the risks brought by the policies.From the perspective of enterprise,we should adapt to the new tax system,adjust business model,do tax planning and strengthen personnel training,to promote the smooth implementation of reform,and promote the development of financial industry.