The Tax Bearing Change And Effects Of Value-added Tax Reform On Banking

The banking industry embraces the new policy of "replacing business tax with value-added tax" program,since May 1,2016,Tax reform has played an important influence on the banking industry."Replacing business tax with VAT" program has brought a series of uncertain factors to it's management and development,especially the tax burden.Whether the bank understanding tax reform plan and the spirit of the policy as well as timely conduct transformation is the key point determines whether or not a beneficiaries.The paper analyzes the change of tax burden based on before and after the"replacing business tax with VAT" program,the deduction and calculation of input and output calculation model for the general tax assessment methods of VAT,and with the first taxation and declaration data about the bank in Ningbo.At the same time,this paper chooses one bank as sample enterprise,getting the conclusion that the policy of"replacing business tax with VAT" has not brought obvious decrease in the tax burden of Banking under the current value-added tax policy.The paper further analyzes the three main reasons for the increase of the bank tax burden:the state defines the broader tax scope and does not fully open up the VAT chain,the banking industry characteristics lead to the less input tax deductible input tax,and the strict tax collection and management of the VAT.The paper also puts forward some suggestions.For the bank itself,they should enhance the ability to apply the VAT policy,optimize the business model and to carry out a reasonable tax planning.From the Macro point of view,the government should further simplify the tax rate,accelerate the reform of loan policies,and promoting information management.