Research On The Impact Of Preferential Tax Policies On The Sustainable Development Capacity Of Listed Agriculture Enterprises

Agriculture is the first basic industry that guarantees and leads China’s economic development.For a long time,the government has paid great attention to the development of agriculture,and since the 21 st century alone,there have been 19 times in the form of the Central Document No.1 issuing instructions on the work of the "three rural areas".As a high-quality representative of China’s agricultural enterprises,listed agricultural enterprises play an important role in leading China’s agriculture to achieve industrialization and modernization.In order to support the stable and healthy development of the agricultural industry,the government has a large number of tax preferences for agricultural enterprises,in addition to financial subsidies,there are also a large number of preferential tax policies,such as value-added tax and income tax relief.At present,the operation and development level of agricultural listed enterprises still needs to be improved,and there are still problems such as low profitability,insufficient solvency and growth ability,and uneven development.Given the complexity of the market environment,there are many factors that can have an impact on the long-term sustainable development of China’s agricultural listed enterprises in the future.Therefore,whether the preferential tax policies implemented by the government play a role,whether the government’s preferential tax policy tilting behavior is feasible,and how should agricultural listed enterprises improve their long-term Sustainable development capabilities,these are all issues worth exploring deeply.Based on this,on the basis of reading a large amount of literature and related economic theories,this thesis summarizes the relevant research conclusions already made by existing scholars,and analyzes the importance of the government’s implementation of preferential tax policies for the sustainable development of agricultural listed enterprises in combination with the actual development status of agricultural listed enterprises.Through the principal component analysis of the financial data of 110 listed agricultural enterprises from 2011 to 2020,three common factors representing the sustainable development ability of enterprises are extracted as explanatory variables,and two are used for enterprise value-added tax and income tax The substitution index is used as an explanatory variable to measure the preferential tax policies of enterprises,plus 7 control variables,and an empirical model of the impact of preferential tax policies on the sustainable development ability of listed agricultural enterprises is established,and empirical analysis is conducted to verify the proposed hypotheses.Through empirical analysis,this thesis draws the following conclusions: First,the preferential tax policies can play a certain role in promoting the comprehensive growth of agricultural listed enterprises,and the promotion effect of VAT tax incentives is greater than that of enterprise income tax incentives;second,the impact of VAT tax preferences and income tax incentives on the short-term profit behavior of agricultural listed enterprises is different.Value-added tax incentives have a promoting effect on it,but income tax incentives have the opposite effect;third,preferential tax policies can positively affect the operating liquidity of listed agricultural enterprises.Overall,preferential tax policies can promote the long-term sustainable development of enterprises.Finally,based on the empirical analysis conclusions,combined with relevant economic theories,literature research results and industry development,this thesis puts forward targeted suggestions from the government level and enterprise level.At the government level,the government should further increase the incentives for the government to enjoy preferential tax treatment for income tax;expand the scope of agricultural tax incentives,and increase the preferential treatment of other related taxes for agricultural enterprises.At the enterprise level,we should strengthen the quality education of fiscal and taxation work and management personnel,as well as the prevention and control of tax risks;increase the investment in innovation of enterprises.