Research On The Impact Of Replace Business Tax With Value-added Tax On Rural Commercial Banks

In 2003,the State Council released the "Pilot Program for Deepening the Reform of Rural Credit Cooperatives," and the property rights system and management system of the credit cooperatives and the national help-cooperatives were the focus of the reform of the credit unions.The reform of the market economy system has been promoted step by seep,along with the reform of tax system.After the tax reformed in 1994,business tax and value-added tax were two types of taxes in China's taxation system,and they were two carriages that went hand in hand.The two kinds of tax burdens in parallel have provided some guarantees for the state's finances.However,with the rapid development of the market economy,the drawbacks of the two parallel taxes in China have begun to appear,such as the tax burden is irrational,taxation is repeated.Therefore,in order to change this situation,the State Council formally approved the pilot scheme of the Ministry of Finance and the State Administration of Taxation in 2011.In 2012,it was formally piloted in Shanghai.The financial industry was the last batch of pilot reforms to be included in the reform of the "replace business tax with value-added tax,"which took place on May 1,2016.For rural credit cooperatives,property rights reforms and tax reforms are great news.In recent years,the country has also introduced a series of preferential policies for supporting agriculture,and the strategy of rejuvenating the countryside is the most important task of the whole party.The issue of agriculture,rural areas and farmers has always been a fundamental issue related to the national economy and the people's livelihood.Moreover,the implementation of the country's strategy for rural revitalization will surely depend on the development of rural commercial banks.This paper selects rural commercial banks as the analysis target,First of all,through consulting the relevant literature,field surveys and other means to understand the current problems encountered by rural commercial banks in the "replace business tax with value-added tax".Combined with the differences between the urban rural commercial banks and the county-level rural commercial banks,the influencing factors were summarized and analyzed,mainly from the perspective of tax rate,input offset and accounting.Then taking C Rural Commercial Bank as a case,based on its financial data,work flow and business processing,it analyzed the actual impact of the bank after implementing the "business reform",mainly from operating performance and costs.For a listed rural commercial banks were estimated tax change analysis,class analysis from interest income and fee directly to class.Lastly,it raised the countermeasures and suggestions for improving the ability of rural commercial banks to respond to the "replace business tax with value-added tax," and the impact on them.Mainly including tax planning according to their own conditions,perfecting the deduction of input tax amount,and strengthening the unified supervision and management of VAT invoices.also gave opinions on expanding the scope of tax exemption to the tax collection authorities.