Research On The Impact Of Tax Credit Rating System On Enterprise Commercial Credit Financing

As an important supplement to compulsory tax collection and management,tax payment credit rating system is regarded as a flexible way of tax collection and management,and is an important measure for tax authorities to improve tax compliance,promote taxpayers’ integrity and self-discipline,and promote the construction of tax payment credit system.Under the background of vigorously constructing the social credit system and promoting the "institutionalization of credit construction",the tax authorities actively optimize and improve the tax credit rating system,and the influence of the tax credit rating system,a new tax collection and management mode,has gradually been paid attention to by the academic circles.At present,under the financial system centered on bank credit,the financing difficulties faced by Chinese enterprises have not been effectively improved.If enterprises cannot obtain credit loans from banks,commercial credit financing has become an important alternative financing method,which effectively alleviates the dilemma of "difficult and expensive financing" for enterprises.As a new financing tool,commercial credit financing depends on the cooperative relationship and the degree of trust between the upstream and downstream enterprises in the supply chain.Whether tax credit,as the credit card of enterprises,has the function of commercial credit enhancement.Combined with the background of tax authorities constantly innovating supervision methods and promoting the modernization of tax governance,it is of great significance to study the influence of tax credit rating system on the commercial credit financing of enterprises.This paper firstly reviews the research achievements of domestic and foreign scholars on tax collection and administration,tax credit rating system and influencing factors of enterprise commercial credit financing,then defines the basic concepts of tax credit rating system and commercial credit financing,expounds the relevant basic theories,and explores whether the tax credit rating system will affect enterprise commercial credit financing by reducing information asymmetry and improving the reputation of property rights,market position and regional marketization degree.Thirdly,the construction system of China’s tax credit system is sorted out,and the current situation of tax credit rating and commercial credit financing of China’s listed companies is analyzed.Finally,taking the data of a-share listed companies in 2015-2020 as the research sample,the method of empirical analysis is adopted to analyze the comprehensive impact of the tax credit rating system on the commercial credit financing of enterprises.First,the tax credit rating system can promote the improvement of commercial credit financing level of enterprises rated A;second,the promotion effect of tax credit rating system on commercial credit financing level of enterprises rated A is more significant in non-state-owned enterprises,enterprises with low market position and regions with low marketization degree.Thirdly,in the analysis of channel mechanism,improving enterprise reputation and reducing the degree of information asymmetry are important mechanisms of tax credit rating system on enterprise commercial credit financing.Based on the combing analysis and research results of this paper,The corresponding policy suggestions are put forward: First,Establish and improve the laws and regulations on tax payment credit,Improve the relevant legal level of the tax payment credit system;second,Gradually open up the tax payment credit rating disclosure,Improve the transparency of tax payment credit rating;third,Clear hierarchical management rules,Improve the classification management and service of tax payment credit;fourth,Enterprises shall pay taxes in good faith,Improve tax compliance,Transform the tax payment credit into an important "asset" for taxpayers;Fifth,enterprises should pay attention to the transmission mechanism,improve their reputation,and disclose high-quality information to the outside world,which can help to reduce the financing cost of enterprises.