Empirical Study On Manufacturing Listed Companies’ Effective Tax Burden And Influential Factors

At present, the manufacturing industry in China has created more than half ofGDP. The manufacturing output accounted for80%of the entire industry. In recentyears, manufacturing industry has been developing rapidly in our country and becamea strong international competitiveness of industry. Manufacturing enterprises is notonly the mainstay of the national economy, but also a major contributor to the state’stax revenue.Enterprises as the main revenue provider of the state, its actual tax have becomethe most acute and most sensitive issue related to the people’s livelihood. Turnover taxand income tax as the country’s two big main taxes. Among them, the burden ofturnover tax is the final consumer not the enterprise. So the enterprise actual taxburden mainly embodied in the income tax. In recent years the implementation of newAccounting Standards and the new Enterprise Income Tax Law have played a certainregulation role in the quantity and fairness in tax burden and have had a significantimpact in the income tax burden. Researching on income tax burden and itsinfluencing factors could not only offer effective thoughts to tax reform, but also helpguide the optimization and upgrading of industrial structure in our country. Based onthis, this paper selected the manufacturing industry to study the corporate income taxburden and its factors.On the basis of defining the actual tax burden and nominal tax burden, this papereviewed and summarized the relevant research literature at home and abroad, putforward hypothesis, build multivariate regression models, to explore the nature anddegree of factors on the actual tax burden of manufacturing listed companies. Thisarticle selected the data from273manufacturing listed companies from2006to2012as the research sample, adopts the method of descriptive statistics and multivariateregression for the company to empirical research on the influence factors of the actualtax issues.According to the analysis on research data in this paper, we found that the levelof manufacturing ETR was lower than the legal income tax rate which indicated thatsome of the manufacturing companies enjoyed tax preference. Using multipleregression analysis, the results show that since the implementation of the new law on corporate income e tax, ETRs of manufacturing listed companies significantlydecreased; There is no obvious relationship between regional factors and ETRs;Company size and ROA has significant negative correlation relationship with ETRs;Asset-liability ratio has significant positive correlation with ETRs. Through detailedanalysis of empirical results, this paper considered the government and relateddepartments should further improve the corporate income tax policy, accelerate theimplementation of green tax, carry out the change from Business Tax to Value-AddedTax entirely and strengthen tax supervision.