| The high-end equipment manufacturing industry is one of China's strategic emerging industries,including not only the transformation and upgrading of traditional manufacturing,but also the high-end equipment required for the development of emerging industries.It is located in the core link of the industrial chain,with high added value and capital intensive.The development of high-end equipment manufacturing is conducive to China's industrial transformation.At present,China is already a big country in equipment manufacturing,but the industry is not strong.Compared with advanced manufacturing countries,China's industrial capacity is insufficient,and there are some problems such as weak independent innovation and lack of key technologies,which affects China's transition from "Made in China" to "Created in China".Therefore,in the early stage of the development of high-end equipment manufacturing industry,the government is supposed to play the role of visible hand,and accelerate the promotion of the healthy development of high-end equipment manufacturing industry through taxation.The article is divided into four parts:The first part is the introduction,which introduces the background and significance of the research,the review of the research literature related to this paper,the research purpose and structure,and possible innovations and inadequacies.The second part is the theoretical analysis of the tax policy of high-end equipment manufacturing.This part has three aspects: the first one is the general analysis of the current status of the high-end equipment manufacturing industry;the second one is about partial equilibrium analysis and general equilibrium analysis of the high-end equipment market taxation;the last one introduces the theories of business performance and expounds how the tax policy influences business performance.The third part is about the tax burden of China's high-end equipment manufacturing industry and the empirical analysis of business performance.This part firstly summarizes the tax policies applicable to China's high-end equipment manufacturing industry.Secondly,based on the data of high-end equipment manufacturing listed companies in 2009-2017,the descriptive statistical analysis is carried out after measuring the tax burden level of the industry.Then use principal component analysis to carry out regression analysis on the impact of tax burden on firm performance.The main conclusions are as follows:1.The comprehensive tax burden of high-end equipment manufacturing industry shows a downward trend,but it is still at a relatively high level.In the past nine years,the industry's comprehensive tax burden averaged 46.09%.Generally speaking,under the effect of early structural tax reduction,China's industrial tax burden has dropped significantly.In the latter stage,the industry's tax rate was stable with a slight decline.However the rate is still at a relatively high level,and there is room for further tax reduction.2.There is a significant negative correlation between the comprehensive tax burden and the business performance.That is,the improvement of comprehensive tax burden has a significant inhibitory effect on corporate performance.The fourth part is the policy recommendations.In combination with the international advanced practices,the paper puts forward relevant suggestions from two perspectives for the optimization of China's high-end equipment manufacturing tax policy.The contribution of this paper is mainly reflected in two aspects: 1.The expansion of the research perspective.At present,the academic community lacks empirical research on high-end equipment manufacturing industry.This paper innovatively separates the high-end equipment manufacturing industry from the manufacturing industry and studies it separately.2.The expansion of empirical analysis.In this paper,the principal component analysis method is used in the multivariate regression analysis,and the performance comprehensive evaluation index Y is used as the explanatory variable in the regression analysis. |
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