The Tax Burden Research On Financial Enterprises Of China

The financial industry is the core of modern economy and has played a decisive role in the whole national economy. The tax burden, which has an impact on taxpayers' management and the running of the macroeconomic, is the core issue of tax policy. Because of the core position of the tax burden and the specificity of the financial industry, it has a very high theoretical value for studying the tax burden of financial enterprises.Meanwhile, it also has an important realistic significance to do some in-depth research work on this issue, especially when we have been facing the challenges after we joined the WTO,and now we are facing the impact of global financial crisis.Until now, the studies on financial enterprises'tax burden in China are more concentrated on qualitative analysis and less focused on quantitative analysis. In this paper, we started our research from two different clues:Theoretical Analysis and Empirical Analysis.From the theoretical perspective, we clarified the economic effects of the tax burden and the successful experience that we can learn from foreign countries.From the empirical perspective, we focused on the listed companies and studied the trends of listed financial enterprises' tax burden. Further, we analyzed the impact that tax burden could have on the business performance of listed financial enterprises.On this basis, we put forward some recommendations on optimizing financial enterprises'tax system.In the theoretical analysis part, we define the Enterprises' Tax Burden first, and then select the research object. On this basis, we emphatically analyze the impact that tax could have on some aspects of an enterprise, such as financial credit, investment, financing and anti-risk ability. After that, we introduce the taxation situation of foreign financial institutions from the two angles of turnover taxation and income taxation. Then, combining with the actual situation in our country, we summarize some experience that can be used for reference.In the empirical analysis part, we firstly set forth financial business tax reform since 1994 in our country. On this basis, we analyze the current situation of turnover tax and income tax that may influence the development of financial enterprises in our country. In the process of this analysis, we fully consider the factors of the new "Provisional Regulations of the People's Republic of China on Business Tax" promulgated on January 1,2009 and the new "Enterprise Income Tax Law of the People's Republic of China" promulgated in January 1,2008.After that, we aim at 28 listed financial enterprises and study their tax burden in detail from 3 different levels, namely aggregate analysis of tax burden, structural analysis of tax burden and tax burden's impact on business performance. In the aggregate analysis part, we did a research work on the overall tax burden trend of listed financial enterprises in our country from 1994 to the first half of 2009; In the structural analysis part, we mainly study the tax burden differences between the bank financial enterprises and the non-bank financial enterprises, as well as the tax burden differences between listed financial enterprises and listed service enterprises;In the tax burden's impact on business performance part, we study tax burden's impact on net profit and total assets of listed financial enterprises further by regression analysis.In this paper, we did some extended and deeper research on enterprises'tax burden. We extended the breadth of research on listed enterprises' tax burden and promoted the depth of research on listed enterprises' tax burden in business scope, time span and the real-time conclusions.