Research On The Impact Of Environmental Tax Reform On Transformation And Upgrading Of Heavy Polluting Enterprises

After the reform and opening up,the state’s environmental pollution control of enterprises is mainly through the collection of pollution charges.From "overcharging" to "total charge",the pollutant emissions fee framework has been uninterruptedly improved,and the pollutant emissions fee standards have been gradually increased.However,in the implementation process,such problems as weak law enforcement and outdated charging mechanism have become increasingly notable.Addressing the above issues,the Third and Fourth Entire Seminar of the 18 th CPC Central Council bring up the requirements of "promoting the change from ecological safeguard fees to taxes" and "safeguarding the ecological environment with strict legal system".On January 1,2018,our country officially implemented the environmental protection tax,which realized the reform of fee to tax,basically completed the "translation" of pollutant emission charges into environmental protection and bonded zones in terms of tax rates,and completed the upgrade from "fee" to "tax" in terms of collection and management mode.The implementation of environmental protection tax aims to regulate and control the environment through tax leverage,enhance enterprises’ awareness of environmental protection,reduce pollutant emissions,quicken the metamorphosis and refurbishment of firms,especially weighty pollution,stimulate the building of eco-friendly excellence,and realize the high-fidelity growth of corporations.Since 2018,the environmental protection tax system has operated steadily and the tax administration has been orderly,but whether it has played a part in promoting the metamorphosis and upgrading of heavily polluting enterprises remains to be tested.Therefore,This article examines how the environmental tax restructuring affects the metamorphosis and refurbishment of enterprises from a micro perspective,and explores the influence of the policy on the metamorphosis and refurbishment of listed companies in massively polluting manufacturing.Based on the panel data of 319 massively polluting enterprises in 2010-2019,the article researches the influence of green tax on the metamorphosis and upgrading of heavily contaminated enterprises.The inspection results of the PSM-DID show that the commentary of environmental protection and bonded zones in 2018 has effectively promoted the metamorphosis and upgrading of enterprises in heavily polluting industries.On this basis,this paper divides the explanatory variables into the process and results of transformation and refurbishment,and further explores the impact of policy changes on various aspects of enterprise transformation and refurbishment.In order to solve the endogenous problem,PSM-DID method is also used to test,the results show that the impact of environmental bonded reform on the results of enterprise transformation and refurbishment is significant,but no significant impact on the transformation and upgrading process.This further shows that under the background of fee to tax,the enterprises that vigorously answer to the national policy and implement the transformation and upgrading have got better development results.Then the heterogeneity is analyzed and the robustness of the hypotheses is tested.The conclusion of heterogeneity analysis show that compared with privately owned companies and alien corporations,national enterprises have more prominently rendering in transformation and refurbishment,and compared with enterprises with less competitiveness,enterprises with stronger competitiveness have more significant transformation effects.Based on the above research,the article broadens the study on the force of environmental protection taxation on enterprises,contributes the project on transformation and refurbishment of enterprises in cumbersome polluter industries,and maintains some targeted policy propositions for promoting the construction of green tax configuration.