The Research On The Tax Burden Of Financial Listed Companies Under The Background Of Replacing Business Tax With VAT

Since May 1,2016,the value-added tax has been fully implemented in all industries,including the financial industry,construction industry,real estate industry and living service industry,which is referred to as "replacing business tax with VAT",indicating that the business tax has been completely replaced by VAT.Compared with business tax,value-added tax can avoid duplication of taxation in principle and has the advantage of neutral taxation.Due to the complexity of the business,the financial industry has been widely concerned in the promotion of the "replacing business tax with VAT" pilot project.How to treat and deal with the impact of "replacing business tax with VAT" on the financial industry is a major problem facing the financial sector in the face of tax reform.The financial industry is the key industry in the national economy.It is of great significance to the healthy development of the financial industry to do a study of the "replacing business tax with VAT" in the financial industry,to understand the impact of the reform,and to conscientiously do a good job of the value added tax of the financial industry.It is not only the inevitable choice to improve our tax system,but also the urgent need to promote the development of the related industries and promote the sustainable development of the financial industry.Under the background of comprehensive "replacing business tax with VAT",this paper aims to analyze the impact of this tax reform on the tax burden of listed companies in the financial industry.This paper first reviews the current research status of "replacing business tax with VAT",expounds the basic theory of tax related,interprets the relevant policy content of the financial industry "replacing business tax with VAT",and then calculates and analyses the influence of "replacing business tax with VAT" on the listed companies in the financial industry by the method of regression analysis.The study found that the tax burden of the listed companies in the financial industry was significantly lower than that before the "replacing business tax with VAT".At the subdivision level,the tax burden of the non bank financial industry,including the securities and futures industry and the insurance industry,was significanty reduced,but only the banking tax negative change was not significant.The practical case of ICBC is studied,explaining why the listed banks on behalf of the bank fail to achieve the tax reduction expectations.Finally,according to the new tax policy changes,this paper puts forward the corresponding suggestions from the perspective of tax subject and the subject of collection,and looks forward to the related research.The innovation of this paper lies in the combination of empirical analysis and case study,which not only explains the direction and degree of the impact of the tax burden on the "camp to increase" policy in the financial industry as a whole,but also studies the reasons for the failure to achieve the expectation of the tax reduction in the subdivision industry,and selects the latest data after the "increase of the camp" in the financial industry to make the results more timeliness.