Analysis On How Tax Policy Affects The Loan Of SMEs

According the economic development of our country since reform and opening-up, SMEs' contribution to social economy rises constantly. However, during the development the problem of financing becomes the biggest difficulty, especially in the approach of bank loan. Therefore, this paper looks forwards to a way out of this problem from a new view of taxation.The heavy tax burden and relaxed tax collection and management lead the SMEs to evade tax and make fake account book. The big banks in China attach importance to the "hard information", which is finance information. Then the big banks will cherish the loan when the SMEs apply for it. It leads the prevalent problem that SMEs have difficulty in lending. First of all, according to the relative research of SMEs loan, this paper finds out the aspects which impact the SMEs' application for loan and builds a basis of building the comprehensive model for the credit rationing of SMEs. Secondly, on the basis of existed model for the credit rationing of SMEs, this paper adds the variable of tax into the model and analyzes tax's impact on credit rationing. Thirdly, comparing with the tax system in foreign countries, the paper finds out whether the level of overall tax burden in China is heavy or not. Fourthly, this paper builds the model for SMEs' operation through the tax evasion or by loan, figures out the equilibrium of tax rate, computes the equilibrium of tax rate according to the economy and tax situation, and compares it with the nominal tax rate in China.At last, some advices on building the reasonable tax system, strict law of tax collection and management and effective favorable tax policy aiming directly to SMEs are put forward to the government. In a good taxation situation, the government could lead SMEs to improve their financial situation and develop themselves by loan.