Research On Influencing Factors Of Income Tax Of Pharmaceutical Manufacturing Enterprises In China

Under the social background of the “healthy China” strategy and the aging of the population,the pharmaceutical manufacturing industry will usher in tremendous development opportunities.But at this stage,the development of the pharmaceutical manufacturing industry is not satisfactory.The tax burden is an important factor affecting the performance of enterprises.Reducing the tax burden of pharmaceutical manufacturing enterprises is an important way to promote their development.In an increasingly competitive market environment,it is increasingly important for pharmaceutical manufacturing companies to reasonably control corporate tax burdens and reduce corporate costs.Since the enterprise turnover tax represented by VAT is likely to be passed on,this paper only selects corporate income tax as the research goal.Corporate income tax is an important means for the state to implement macroeconomic regulation and control,and it is also an important expenditure for enterprises.Therefore,the actual tax burden of pharmaceutical manufacturing enterprise income tax is one of the focuses of this paper.Because the existing research less measures the tax burden and dynamic trends of pharmaceutical manufacturing enterprises from the enterprise level,this paper attempts to supplement the research in this aspect.In addition,there are differences in the development of China's pharmaceutical manufacturing enterprises.Accordingly,their corporate income tax burden will be different.Therefore,this paper also uses this as a research idea to study which enterprises' own factors will have an impact on pharmaceutical manufacturing enterprise income tax.In general,we choose corporate income tax as the focus of this master's thesis,focusing on the following questions:(1)What is the level of corporate income tax in listed companies in China's pharmaceutical manufacturing industry?(2)The corporate income tax of listed companies in the pharmaceutical manufacturing industry is negative in 2009-2017?(3)Factors affecting the negative change of corporate income tax? Based on the above analysis,if the corporate income tax is indeed too heavy,how should the future tax reduction policy be adjusted? On the other hand,if the corporate income tax reduction space is small,where is the new tax reduction?First of all,this paper uses relevant theories to analyze the corporate income tax negative of pharmaceutical manufacturing.Secondly,a statistical analysis of the overall situation of corporate income tax in China's pharmaceutical manufacturing industry was conducted.Finally,empirically assess the impact of the external environment of the enterprise and the internal characteristics of the enterprise on the corporate income tax of listed companies in the pharmaceutical manufacturing industry,and verify whether the research hypothesis is established.In addition,in order to make the research results more stable and substantial,we conducted a robustness test with tax and surcharges as explanatory variables.Based on the above empirical test analysis,the following research conclusions were obtained: First,on the whole,the average corporate income tax rate of listed companies in the pharmaceutical manufacturing industry was 17.8%,and the overall trend showed an upward trend.The negative corporate income tax rate from 2009 to 2013 was the main reason for the rising tax burden of enterprises.Second,through the analysis of multiple linear regression models,we find that asset-liability ratio,net asset profit margin,sales profit margin,high-tech enterprise qualification and central geographic location will have an impact on corporate income tax of listed companies in pharmaceutical manufacturing.Thirdly,in the test of robustness,we found that the taxes and surcharges of listed companies in the pharmaceutical manufacturing industry have increased year by year.The reform of “business reform” in 2013 is an important system for the taxation of listed companies in the pharmaceutical manufacturing industry and the deduction of actual tax burden factors.Based on the above analysis,this paper proposes the following policy recommendations: From the perspective of the external environment of the enterprise,it should further improve the preferential policies for corporate income tax,adopt measures to promote the development of high-tech enterprises and reduce the actual tax burden of enterprises' deductible tax;For pharmaceutical manufacturing enterprises themselves,they should not only develop in the direction guided by corporate income tax incentives,but also adjust the internal characteristics of enterprises to minimize the negative corporate income tax.