The Influence Of The Implementation From Replacing The Business Tax To Value-added Tax Of Real Estate Enterprise In Our Country

The policy of “reform by business reform” is an in-depth reform of China’s fiscal and taxation system since the tax-sharing reform.In January 2012,China took the lead in Shanghai to carry out the “Restructuring and Reforming” pilot of the transportation industry and some modern service industries.Starting from this,China gradually expanded from the initial “6+1” industry pilot to the postal service industry,telecommunications industry,and a wider range of modern service industries.In accordance with the fiscal and taxation [2016] No.36 document issued by the State Administration of Taxation,starting from May 1,2016,China will comprehensively promote the trial of “change in business operations” throughout the country,including construction,real estate,financial services and life services.Business taxpayers such as taxpayers will all be included in the scope of the pilot,and the VAT will be changed.Since then,VAT will realize full industry,full-cycle,and full-scale coverage of products and services,and will become the sole subject tax of China’s turnover taxes.In this context,this paper starts with the policy of “reform by increasing business” in the last round,and sorts out and interprets the policy of “restructuring through reform” involving the real estate industry,and explores new policy pairs from both theoretical and empirical perspectives.The impact of real estate tax burden and the specific path,and combined with the analysis results put forward corresponding countermeasures and suggestions.This article examines the specific formulas for the calculation of turnover taxes,land value-added taxes,and other tax burdens in the name of real estate companies under the VAT system.The results of the analysis show that:(1)When the proportion of input tax that can be deducted from the total income exceeds 4.9%,the “reformed by the reform” policy has a tax-reducing effect on the turnover tax of real estate companies.(2)The tax burden of land value-added tax will reverse to the turnover tax burden.In particular,when the land appreciation rate is near the boundary of the two-tier tax rate,the change in the tax liability of land value-added tax will multiply exponentially.(3)The negative change in corporate income tax is 25% of the sum of all kinds of tax changes,and the urban construction tax is roughly 12% of the turnover tax change.This paper estimates the nominal tax burden of the real estate industry after the “Zhan Gai Zeng” on the basis of examining the impact of the VAT system on various tax burden formulas and combining specific industry tax rates,profits,land costs,and other cost structure data.The results show that:(1)Under the general taxation method,the transfer tax rate of real estate enterprises is 5.38%,which is slightly higher than before the reform.Under the simple tax calculation method,the turnover tax burden of enterprises is 4.76%,which is slightly lower than before the reform,but will be affected by changes in pricing.The level of business tax turnover for main commercial real estate will be higher than that for main residential real estate.(2)The land value-added tax has declined slightly before the reform.The higher the rate of land appreciation,the greater the negative rate of decline in land value-added tax.The negative change in land value-added tax of real estate enterprises is generally within the range of(-0.277%,0).(3)The income tax of real estate companies fell slightly before the reform,and the decline was affected by the land appreciation rate of each project.The change in tax burden was roughly within the range of(-0.037%,0).This paper explores the changes and paths of the nominal tax burden of the real estate industry,and analyzes the direction and specific reasons for the real tax changes of the real estate industry after the reform.The author believes that the new tax reform will affect the actual tax changes of the pilot companies in terms of the operability of tax planning,the integrity of the VAT offset chain,and the compliance costs of taxpayers.This article comprehensively analyzes the impact of the policy of “reform by business reform” and uses the data of 60 real estate listed companies in 2016 to conduct empirical analysis.The results show that there is no significant difference in the average value of real estate companies before and after the turnover tax burden,land value-added tax,income tax losses,and comprehensive tax burden reforms,but the standard deviations of tax data for various types of taxation after the reform have all significantly expanded.Through in-depth analysis of the sample companies,this paper concludes that due to the impact of policy implementation time,transitional policies and other factors,the tax burden changes after the tax reform is not yet obvious.However,the company’s own operational and financial management capabilities have a significant impact on its tax changes.Due to uneven business management capabilities in the industry,the standard deviation of tax data for various companies after the tax reform was expanded.For related issues in the process of analysis and research,this paper proposes relevant countermeasures and suggestions.(1)The government should continue to improve the reform of the value-added tax system,especially the related basic system of the financial industry and the relative unification of tax rates and tax burdens of various tax items.(2)Enterprises should optimize development and operation modes,specific purchase and sales methods,and strengthen financial management capabilities,especially reasonable and legal tax planning capabilities.