Research On The Tax Burden Differences Of Listed Companies And Its Influencing Factors

Since the new century,reform policies in the taxation field have been intensively introduced.In 2009,the value-added tax was fully transformed,and the business tax to the value-added tax was fully implemented in 2016.The structure of corporate tax and the overall tax burden of the enterprise has changed.In recent years,our country has reformed the fiscal and taxation system and intend to reduce tax and fee.There are large differences in tax burdens between enterprises in different industries or in different regions,and there are also significant differences between different types of taxes.Recently,the Sino-US trade war has become a hot spot,and the downward pressure on the economy is greater.Studying the tax burden problem can further reduce the tax burden of enterprises and improve their profitability.In theory,there are few studies on corporate tax burden and its influencing factors.Studying it helps us to recognize the main source of corporate tax burden and its impact mechanism.Therefore,the study of the tax burden has both practical and theoretical significance.This paper firstly combs,reviews and summarizes the research results of related literatures at home and abroad,and concludes the research content and research methods of this paper.Then,the concept of tax burden is defined.The measurement of tax burden is proposed,and the relevant theories of tax burden are summarized.On the basis of previous studies,this paper divides the influencing factors of corporate tax burden into two categories: macro and micro.Macro factors include industry characteristics,regional characteristics,property rights and taxation policies.Micro-influence factors include company size,capital structure,profitability and capital intensity.This paper selects the listed companies in China's Shanghai and Shenzhen stock markets as samples from 2009 to 2018.The descriptive statistics and multiple regression analysis methods are used to obtain the tax burden of enterprises,and empirical research on the influencing factors of corporate tax burden is carried out.In the descriptive statistical analysis,the overall tax burden of the enterprise is first obtained.After that,corporate tax burden is decomposed into tax differences in industries,regions,and taxes.The results show that the tax burden of listed companies is still high,and the tax burdens of enterprises in different industries and regions are quite different,and there are also significant differences among different taxes.Listed companies in the eastern region have the highest tax burden,followed by the central region and the western region.With the passage of time,the tax burden of listed companies has been declining year by year,and the tax burden differences in various regions are gradually decreasing,indicating that cut taxes and administrative fees reduction has been fruitful.The tax burden varies greatly among different taxes,with corporate income tax accounting for the highest proportion,followed by value added tax and business tax.The analysis of the tax burden of major tax types shows that the Change from Business Tax to Value-Added Tax and cut taxes and administrative fees have increased the profitability of enterprises and significantly reduced the overall tax burden of enterprises.In the empirical research stage,the research hypothesis is first proposed,and the model is established to conduct multiple regression analysis to study each influencing factor on corporate tax burden.The results show that the tax burden of listed companies is significantly negatively related to company size,asset-liability ratio,and nature of equity,and significantly positively related to total net asset interest rate.The tax burden of a listed company is related to its industry,and there is no significant correlation between its location and capital intensity.The robustness tests showed that the positive and negative characteristics of the coefficients of each variable did not change,but the significance level changed slightly.In order to reduce the corporate tax burden and improve the business environment,this article recommends: adjusting tax preferential policies,optimizing tax design,strengthening tax supervision,providing financing services,and promoting corporate ownership reform.