Study On The Tax Burden Of Sale-Leaseback Of Movable Property

Financing leasing,as one of commercial transactions,not only benefits for cooperation structure adjustment,equipment iteration but also provides effective way for development of infrastructure and relieves of difficulties and high-expense for SME financing.Since financing leasing is rocket growing in China and sale-leaseback occupied 80%percent in its transactions,sale-leaseback's development is crucial in financial leasing market.In recent years,as a new financing model,sale-leaseback's up and down's development is affected by institutional changes and market economy,but more importantly influenced by changes in taxation policies.China's "replacing business tax with value-added tax" tax reform action started in 2012 and fully implemented on May 1,2016.Premier Li Keqiang has repeatedly emphasized that the tax burden should be decremented.After implemented for more than two years,there were differences voices about the tax policy in the industry.Therefore,the focus of this study is the impact of the new tax policy on sale-leaseback tax,which has positive significance for corporate tax planning and the development of China's entire financing lease industry.Here on the basis of two methods,normative analysis combined with empirical analysis,sale-leaseback is chosen as the research object.Above all,having analyzed and summarized the researching actuality of sale-leaseback from three aspects:theoretical research,normative research and empirical research,the innovation points and deficiencies of this paper are pointed out.Then in chapter 2 elaborates the relevant concepts of sale-leaseback,tax mechanism and related factors triggering tax changes.As to the concrete tax policy related to sale-leaseback chapter 3 compares the tax policies before and after the tax reform and concludes the improvement of the policies and the existing deficiencies.In chapter 4,empirical analysis focuses on verifying the specific impact of"BT Reforms To VAT" on sale-leaseback tax burden.Last but not the least,in view of the existing deficiencies of tax policies,corresponding countermeasures and suggestions are put forward.On the other hand,we should improve relevant supporting measures and pay more attention to talent building.