Research On The Impact Of Value-added Tax Reformation On The Financial Performance Of Listed Companies In Real Estate Industry

The analysis of this paper focuses on how the real estate enterprise's financial performance represented by the ROE is changed after the “replacing business tax with VAT”,and what is the inherent logic of the financial performance caused by the policy.Firstly,through theoretical analysis,this tax reform will affect the formation of net profit from income,cost,tax and other aspects,thus affecting the return on net assets of enterprises.Next,set up a simple calculation model.The old project adopts the simple tax calculation method,and the new project applies the general tax calculation method to analyze the income statement related subjects such as income,cost and related tax burden,net assets income rate before and after the tax reform.When the old VAT project adopt the simple tax calculation method,after the reform,the net profit shows a positive change,and the change is proportional to the sales income.Under the same net asset level,the ROE indicator increased,showing a final positive change in financial performance.Under the Du Pont analysis,the impact on the net profit margin is affected by operating costs,expenses and income,which affects the return on net assets.If the general taxation method is adopted,the specific direction and magnitude of net profit need to be based on sales income.The input tax amount E and the land price are jointly determined by the value of D.If at the same net asset level,the change in the company's return on net assets depends mainly on changes in net profit.Under the Du Pont analysis,“camp reform” affects the return on net assets by affecting profits and income,thus affecting the return on net assets.The project case analysis found that the old project that was calculated using the simple tax calculation method,the “reform of the camp” will bring about a decline in sales income,land value-added tax,business tax and surcharges,and the net profit after tax and the net profit margin will increase slightly.The financial performance represented by the ROE is positive.Through the calculation of the sample data of 70 listed companies,it was found that the overall turnover tax burden of listed companies in the real estate industry increased in 2016,but the turnover tax burden of most enterprises in the showed a downward trend in 2017.The average income tax burden was slightly lower in 2016 than in 2015,and rose more in 2017 than in 2015 and 2016.At the same time,most real estate companies showed an increase in net profit,an increase in net profit margin,and an increase in corporate return on net assets.Finally,based on the above analysis results,this paper proposes related companies: 1.Improve the awareness of the deductible.On the one hand,it is necessary to select qualified upstream suppliers.On the other hand,it is necessary to strengthen the management of internal invoices.Furthermore,the acquisition and preservation of formal financial instruments when paying land prices is essential.2.Reasonable pricing,although it is now under the general trend of pricing with competitors,if we consider financial performance,companies still have to weigh.3.Strengthen the management and training of corporate finance personnel and actively carry out tax planning.At the same time,it is recommended that the tax bureau improve the existing land value-added tax policy,and further strengthen the invoice control to reduce the risk of collection and management.