Research On The Impact Of"Replacement Of Business Tax With Value Added Tax" On The Construction Industry Tax

The “ replacement of business tax with value added tax” is a powerful measure to promote the reform of the fiscal and taxation system,and it also provides important support for the supply-side structural reform.On May 1,2016,the construction industry,as the last link in the full implementation of“ replacement of business tax with value added tax”,was included in the pilot project along with the real estate industry,the financial industry and the life service industry.In theory,the implementation of the “ replacement of business tax with value added tax”in the construction industry will help eliminate double taxation,reduce corporate tax burdens,optimize business operations,so as to promote the steady growth of the entire industry.However,in reality,due to the relatively short implementation time of this,the particularity and complexity of the construction business itself,and the different business conditions of different enterprises,the specific impact of the reform on the tax burden of construction enterprises is Consistent with theoretical estimates? Based on this,this paper attempts to conduct an empirical study to analyze the impact of this new policy on tax burden of construction enterprises.In this paper,when analyzing the impact of reform on tax burden of construction enterprises,45 construction companies that meet the requirements of A-share listings are selected as research objects,and their semi-annual data for 2015-2017 are selected.It performs measurement analysis.First of all,this paper uses the turnover tax negative effect,the income tax negative effect and the total tax negative effect as the explaining variables,the tax policy as the explained variable,the enterprise size,the asset-liability ratio and other control variables to establish the regression model of the panel data for the construction industry.We regress and analyse the tax burden before and after the replacement of business tax with value added tax.The regression results show that the tax credit effect of the input tax after the implementation of the policy has not been fully exerted,and the turnover tax of the construction enterprises has not declined,and the corporate income tax has shown a downward trend.On the whole,due to the lack of VAT input deduction,the total tax burden of construction enterprises has increased after the “replacement of business tax with value added tax”.From the perspective of specific construction enterprises,the tax burden of construction enterprises after “replacement of business tax with value added tax” will be significantly related to the amount of input tax that can be deducted by enterprises.Moreover,the ratio of deduction costs to total cost will ultimately determine the actual tax burden of VAT.Finally,this paper proposes corresponding solutions from the government and enterprise levels.On the one hand,the government needs to continue to introduce policies and measures that are conducive to enterprises to increase revenues and reduce burdens,accelerate the improvement of the industrial chain and upgrade the structure;on the other hand,construction companies need to constantly improve their business practices and better adapt to the replacement of business tax with value added tax.