Study On The Impact Of Transformation Of Business Tax Into VAT Of Relationship Between Listed Construction Enterprises' Scale And Financial Performance

The transformation of business tax into VAT(hereinafter referred to as "policy")is an important measure in China's tax system reform in recent years.Until nowadays,the implementation of the policy of "policy" in the construction industry in recent two years has really reached the goal of reducing the burden and improving the performance of the enterprises,and its effectiveness is yet to be tested.The construction industry is an important part of the national economy,and the construction enterprise is the main force in the construction industry,which is of great significance to the resettlement of the employment population,especially the rural surplus labor force.However,due to the characteristics of the industry and so on,China's construction enterprises are mixed up and competing fiercely.The scale of turnover tax based on operating income is also more prominent than other industries.It is also an indisputable fact that business revenue is high but profit margins are low and capital flow is slow.It remains to be verified whether expanding the scale will help enhance business performance.Therefore,the research on the relationship between the scale and performance of the construction enterprise under the "policy" is not only the exploration of the current tax reform in China,but also the problem to be solved in order to promote the healthy and stable development of the construction enterprises.Based on the analysis of the related literature and the analysis of the related documents in 2015-2017 years,this paper expounded the research theory which was directly related to the "policy",the scale and the performance,including the theoretical basis,the connotation and the goal,the pilot policy of the construction industry,the scale and performance of the construction enterprises.Theory and the theory of the relationship between the two,followed by the theoretical analysis of profitability,cash flow and cash acquisition,and then put forward the research hypothesis,and explained the selection of the sample,and selected the variables to establish the model.Descriptive statistics,factor analysis,correlation analysis and stepwise regression analysis were used to study the impact of the "policy" on the relationship between the scale and performance of the construction enterprises.The study found that,from the point of view of profitability,"policy" significantly added the turnover tax of construction companies,and there was no significant correlation between the scale of construction enterprises and profitability,and the "policy" did not significantly affect the relationship.From the perspective of cash acquisition capability,there was no significant correlation between the scale of construction enterprises and their performance.Meanwhile,"policy" has not significantly affected the correlation.From the point of view of sustainable management,there was no significant correlation between the total size and performance of the construction enterprises before and after the "policy",but there was a significant correlation between the change of scale and the change of performance.Finally,according to the above empirical findings,the research findings were drawn,and corresponding policy recommendations were put forward for government,industry level and enterprise level.