Influence Of Resource Tax Reform On Profitability Of Coal Listed Enterprises

With the excessive exploitation of coal industry,the inefficient use and waste of scarce resources are common,and the ecological environment is deteriorating.The defects of resource tax collection from the quota of resources are becoming increasingly obvious.The traditional resource tax levied by the quota of quantity can not play the function of promoting resource saving and sustainable utilization.In order to promote the full development and economical utilization of resources,regulate the behavior of coal enterprises,promote the innovation and diversified development of coal enterprises,and build a sustainable economic growth model,China began to implement the reform of coal resource tax on December 1st,2014.The reform includes transforming coal resources tax from quantitative quota to subordinate price tax,with the tax rate of 2%-10%.The tax rate is formulated according to the coal quality of various regions,canceling the fund for coal price adjustment and stopping the collection of mineral resources compensation fee.Coal,as the most important energy source of production and consumption,is of great significance to the economic development of our country.The impact of resource tax reform on coal industry will be transmitted to some coal consuming enterprises in important fields downstream through price transmission mechanism.Therefore,the research on the impact of resource tax reform on coal enterprises is related to the sustainable development of social economy and the overall situation of ecological environment protection.At the same time,the coal industry is constantly impacted by environmental protection policies,such as the recently proposed "carbon peak" and "carbon neutralization" goals.In this context,this paper took the resource tax from the price calculation,clearing the coal related charges as the starting point,from the theoretical analysis and empirical analysis two aspects to study the impact of resource tax reform on the profitability of coal listed enterprises.First,in the theoretical analysis part,this paper established the basic framework of the impact of resource tax reform on the operation performance of coal mining and operating enterprises,analyzed the impact of resource tax reform on the coal sales price and sales,and analyzed the influence of coal resource tax reform on financial performance through the influence on financial performance of coal enterprises,The regional differences of resource tax reform on coal enterprises’ performance were analyzed.Then,based on the theoretical analysis,two hypotheses were proposed.In the empirical part,this paper used the data of qualified coal listed enterprises for 15 years,and used panel measurement model to regression to study the impact of resource tax reform on the profitability of coal listed enterprises.On the basis of empirical analysis of the basic model,the paper tested the robustness of the empirical results to ensure the effectiveness of the empirical results.In addition,this paper also conducted heterogeneity test according to the coal resource tax rate in the region where the coal listed enterprises are located.The paper studied whether there are regional differences in the profitability of coal listed enterprises in the reform of resource tax.Based on empirical analysis,the paper’s preliminary basic research conclusions:1.the reform of resource tax will reduce the profitability of coal listed enterprises.2.the reform of resource tax has more significant influence on the profitability of coal listed enterprises in low tax rate areas.Based on the results of empirical analysis,the paper put forward corresponding countermeasures and suggestions.Conclusion 1 is of great significance to optimize the tax rate setting of resource tax,adjust the development direction and mode of coal enterprises and build a green development model.Conclusion 2 points out a direction for the next step to promote the balance of regional economic development of coal enterprises and to create a fair competition environment.According to the conclusion,this paper put forward some suggestions from the government and the enterprise perspective.