| "Replacing business tax with value-added tax" fiscal and tax system reform has exerted profound influence on many aspects of China's social and economic development.As an important part of China's financial industry,industrial and commercial bank of China scientifically evaluates the financial impact of "replacing the business tax with a value-added tax",which is conducive to providing a typical case for the economic research of departments affected by policy shocks and broadening the research scope of relevant fields.In this paper,starting from the connotation of the policy of "camp to increase",based on "camp to gain" policy evolution and characteristics and the development of the industrial and commercial bank of China,constructed the "cost-efficiency-risk" three-dimensional theory analysis framework,based on the connotation of the "characteristics-development-mechanism analysis-impact estimates-path-affect the results and problems-optimization countermeasures" research train of thought,from the tax burden,financial efficiency,financial risk three aspects of scient ific evaluation to add "camp" for the financial impact of commercial Banks.The research results show that :(1)"replacing the business tax with a value-added tax" contributes to the development of industrial and commercial bank of China in terms of system guarantee,production cost,internal division of labor and cooperation,transaction cost,etc.,and at the same time,it also brings the shock of transformation and development.Under the background of "replacing business tax with value-added tax",the financial development of icbc has four advantages,three disadvantages,three opportunities and three challenges.(2)implementation of the "replacement of business tax with value-added tax" policy: the tax rate of industrial and commercial bank of China was increased by 1 percentage point.However,after the banking industry was included in the VAT chain,other financial projects except interest income were subject to differential tax payment to avoid the drawback of double taxation of business tax,and the "replacement of business tax with value-added tax" policy had obvious effect on tax reduction in the banking industry."Replacing the business tax with a value-added tax" affects the income management,cost and expense management,invoice management and supplier management of industrial and commercial bank of China through direct impact and indirect impact,and then affects the tax burden of industrial and commercial bank of China.(3)from 2006 to 2017,the financial super-efficiency,scale efficiency,technical efficiency and pure technical efficiency of icbc all showed an upward trend.The impact of "replacing the business tax with a value-added tax" on the efficiency of icbc was characterized by volatility.In 2016,it showed an inhibitory effect.The influence mode includes quantity influence and quality influence."replacing business tax with value-added tax" exerts timing effect and cumulative effect through virtuous cycle mechanism and fluctuation promotion mechanism,and exerts double-edged influence of efficiency loss in transition period and efficiency improvement in development period.(4)after the implementation of "replacing the business tax with a value-added tax",the risk level of industrial and commercial bank of China is controlled at a med ium level and shows an upward trend."Replacing business tax with value-added tax" influences icbc's asset risk,liquidity risk,profitability risk and market risk by influencing its business structure,operating cost,internal control and asset quality,e tc.,and finally affects its comprehensive level of financial risk through two ways of impact transmission and jump.Based on the above research conclusions,the paper proposes to strengthen tax administration and realize the transformation and development of bank finance.Optimize the risk management and control system,and realize the bank financial advantages and disadvantages;Improve the business development system,strengthen the bank financial development foundation of countermeasures and Suggestions. |
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