The Impact Of Replacing Business Tax With VAT On The Performance Of Commercial Banks In China

In recent years,with the country's economic downward pressure increase,the party and the state to put forward the strong determination to promote the economic transformation of mode of production,further deepening the reform of economic system,and actively into the international financial market,speed up the marketization of interest rate.In order to support the development of the banking industry to accelerate the speed,to guide the financial capital to take off the virtual to real,positive to promote steady economic growth,the coordinated national tax administration of the ministry of finance,March 24,2016 issued a "about comprehensive change opened the business tax paid VAT pilot notice([2016]NO.36),comprehensive camp to increase policy officially kicked off across the country,make all the industry in the national economic system into the VAT system after the tax reform.In this regard,it is effective to avoid the double taxation caused by the previous business tax,and to reduce the tax burden on enterprises;On the other hand,it can effectively stimulate the self-monitoring of enterprises,further cut the channel of tax evasion,and may increase the tax cost of enterprises.So,did the banking industry increase or decrease the tax burden after the overall tax reform?Will there be new impact on the performance of the banking sector?Answering these questions is the main thrust of this study.This paper following the theoretical analysis,empirical analysis,empirical analysis and countermeasure analysis of the basic train of thought,first discusses the change and affect the performance of banking mechanism,proposed to increase the camp through cost mechanism,pressure mechanism,innovation mechanism influences the performance of the banking sector three ways.Secondly,in view of the camp to increase the actual situation of China's banking industry,examines the specific change of tax policy,banking battalion to increase tax changes,as well as the camp to increase after the change of banking business performance indicators.Again,to the camp to affect banking performance has carried on the empirical analysis,with 16 within the territory of listed commercial Banks as the bank sample,for a longer time for the 2016 model of the actual operating conditions,the results showed that although "camp to add" policy to reduce the total tax burden,also reduced the total profit at the same time,led to the tax rate increase.Camp at the same time in order to verify the change degree of policy impact on the performance of commercial Banks,this article USES the 2014 first quarter to the third quarter of 2017 the bank panel data as samples,builds the corresponding panel regression model to carry on the empirical analysis,the empirical results show that the comprehensive policy of camp to increase performance of 16 listed Banks exist significant negative effects,on the analysis of the causes and mechanism,it may be that the camp to increase policy to increase the operating costs of listed Banks,management and operation to bring a lot of pressure,the related policy system also has certain problem,the relevant VAT deduction of commercial Banks is less,resulting in a decline in performance of listed Banks.Finally,the article according to the analysis and discussion on the results of the previous section,combining the influence mechanism and reform background,for commercial Banks in the value-added tax system,how to improve performance level corresponding operation and management Suggestions are put forward.In this paper,the characteristics and innovations of similar research at home and abroad are distinguished.First,the three main mechanisms that influence the performance of banking industry are proposed,namely,cost mechanism,pressure mechanism and innovation mechanism.The second is that the empirical analysis adopts the panel data model,which confirms the negative relationship between the effect of the VAT reform on the performance of the banking industry,and puts forward some countermeasures and Suggestions accordingly.