An Empirical Study On The Impact Of "Tax Reform In BT Replaced With VAT" On The Tax Burden And Corporate Performance Of Construction Industry

“Tax reform in BT replaced with VAT” is an important decision to deepen the reform of China’s fiscal and taxation system.Business tax has the disadvantage of double taxation,which is not conducive to the development of society and enterprises and aggravates the tax burden of enterprises.For purpose of better tax environment and reduction of construction enterprises’ tax burden,“tax reform in BT replaced with VAT” has become a Chinese necessary selection.Since the national promotion of “tax reform in BT replaced with VAT”,the research on “tax reform in BT replaced with VAT” has gradually become the mainstream.Scholars have gradually enriched their research results on the impact of “tax reform in BT replaced with VAT” on the construction industry,but the research conclusions on the impact of the policy on the tax burden and performance of the construction industry have not been reached.This paper takes listed construction enterprises as the research sample,and the research object is defined,which is “tax reform in BT replaced with VAT”.From the theoretical and empirical perspectives,this paper studies the impact of “tax reform in BT replaced with VAT” on the tax burden and performance of the construction industry before and after the implementation.This paper first classifies and sorts out the Chinese and foreign literatures on “tax reform in BT replaced with VAT” in the construction industry,then briefly describes the concepts related to the construction industry,and theoretically calculates the tax burden of small-scale taxpayers and general taxpayers in the construction industry before and after the reform.The results show that: after “tax reform in BT replaced with VAT”,the turnover tax,urban maintenance and construction tax and additional tax on education expenses of small-scale taxpayers are reduced,and the corporate income tax slightly rise;the tax burden of general taxpayers is mainly determined by the cost of deductible input tax.Based on the calculation results,further theoretical analysis is made on the impact of “tax reform in BT replaced with VAT” on the tax burden and performance of the construction industry.In the empirical study,relevant data of 47 construction enterprises listed in Shenzhen and Shanghai from 2012 to 2017 were collected and sorted out,and the impact of “tax reform in BT replaced with VAT” on tax burden and performance of the construction industry is studied through empirical study.The regression results of the overall tax burden show that “tax reform in BT replaced with VAT” has a significant negative impact on the tax burden.For large enterprises and small enterprises,“tax reform in BT replaced with VAT” has a significant impact on their tax burden,and the tax burden decreases significantly.In the sub-region,“tax reform in BT replaced with VAT” has a significant impact on the tax burden of eastern regions and non-eastern regions,and the tax burden decreases significantly.The policy achieved its purpose and reduces the tax burden of enterprises to a certain extent.The regression results of overall performance show that “tax reform in BT replaced with VAT” has a positive and significant impact on performance.For large enterprises and small enterprises,“tax reform in BT replaced with VAT” has a significant impact on their performance and a significant increase in performance.In the sub-region,“tax reform in BT replaced with VAT” has a significant impact on the performance of construction enterprises in eastern regions and non-eastern regions,but the impact direction is different.It can be seen that the policy has indeed had a positive impact on the performance of some enterprises to some extent.On the basis of the empirical research conclusions,this paper puts forward corresponding suggestions and measures from the two perspectives of the state and enterprises.