The Research On The Influence Of Reform Of Replacing Turnover Tax With Value-added Tax On The Valuation Of The Undeveloped Land

On January 1,2012,the reform of replacing business tax with value-added tax VAT(hereinafter referred to as "the BT reforms to VAT ")began to be implemented in Shanghai,which represented as a prelude to "the BT reforms to VAT".Until May 1,2016,"the BT reforms to VAT" has been implemented in a full scale nationwide.The four new pilot industries include finance,real estate,construction,and living services.Among them,the newly added pilot industry,the real estate industry,plays a role in the national economy as "a slight move in one part may affect the situation as a whole."The development of the real estate industry is related to the rise and fall of other industries,the level of national living standards,and the scale of local government income.This fully shows the importance of real estate,and we can also see that the country attaches great importance to the development of the real estate industry.Therefore,the impact of "the BT reforms to VAT"on the evaluation of real estate value cannot be ignored.With the full implementation of the pilot program of "the BT reforms to VAT",the measurement of taxes and fees involved in real estate valuation methods has also undergone tremendous changes.The value-added tax(VAT)in China is a kind of VAT for consumption and tax excluded in price,and the general taxpayer needs to implement a purchase deduction.Therefore,the assumption of the development method in the valuation of the development land was impacted in a certain degree.As the asset appraisal industry belongs to appraisal consulting service industry,changes in the tax calculations brought about by the "the BT reforms to VAT" will directly affect the measurement process in the appraisal practice,thus affecting the evaluation results obtained.Based on the background of "the BT reforms to VAT",considering the impact of "the BT reforms to VAT" on real estate developers,this thesis has studied the adjustments that the real estate developers need to make upon taxation method after the "the BT reforms to VAT" reform.And it clarifies the problems that the assessing industry may face in the process of real estate evaluation after the reform.To address these issues,it proposes measures and recommendations on how to adjust the corresponding model parameters while assessing the real estate with traditional measures after the reform.This thesis first describes the related theory of hypothetical development method and "the BT reforms to VAT",and theoretically analyzes the adjustment made when using the hypothetical development method to assess the value of the undeveloped land after the reform.Then,a specific and actual case of land evaluation by hypothesis development method is selected to describe the changes in the assessment process before and after the "the BT reforms to VAT" reform,and to compare the two measuring processes and the differences between the results,thus to analyze the impact of the "the BT reforms to VAT" reform on the assessment methods,and further clarify that the land assessing practices need to be adjusted.