“营改增”对物流企业税负和业绩的影响

发布时间：2018-05-14 02:16

本文选题：“营改增” + 企业税负　；参考：《浙江财经大学》2017年硕士论文

【摘要】：2012年1月1日,“营改增”改革试点首先在上海的部分行业实施,到2016年5月1日,全国范围内的所有行业全面推开“营改增”试点。“营改增”的基本目标是为了消除重复征税,并在此基础上实现结构性减税和产业结构调整的目标。“营改增”的减税效果究竟如何是社会关注的焦点。物流业作为最早进行改革的几个行业,其税负情况可以很好地反映“营改增”的减税效果,而且物流业在经济发展中有着重要的作用,因此研究“营改增”对物流企业的影响显得更有意义。论文以物流行业上市公司为研究主体,以“营改增”为研究对象,从理论和实证两个角度分析了改革对物流企业税负和业绩的影响。本文首先介绍了相关理论和“营改增”政策,相关理论中介绍了税收负担理论和业绩评价理论。然后,分析了物流企业所涉及的税种,并分析了“营改增”对这些税种的影响。分析认为“营改增”使物流企业的增值税、营业税和企业所得税发生变化,物流企业由缴纳营业税变为缴纳增值税,企业所得税也发生变化,但变化方向不确定。在理论分析的基础上,测算了“营改增”前后物流企业小规模纳税人和一般纳税人的税负,测算表明:小规模纳税人税负在改革后明显降低,一般纳税人税负的变化与可抵扣进项税的多少有关,进项税多的企业在改革后税负降低。在分析物流企业业绩时,从盈利能力、偿债能力和营运能力三个方面分析了“营改增”的影响,分析认为改革对物流企业业绩没有影响。实证部分,选取了物流业67家A股上市公司2010年至2015年的年度数据,运用双重差分模型进行回归分析。在税负模型中以总税负率为被解释变量,以是否进行“营改增”改革作为政策虚拟变量,经过实证分析得出:整体来看,“营改增”减轻了物流企业一般纳税人的税负。为使回归结果可靠,剔除了部分样本后进行稳定性检验。在业绩模型中分别以评价企业总体业绩的指标权益净利率、评价盈利能力的指标销售净利率、评价偿债能力的指标资产负债率和评价营运能力的指标总资产周转率为被解释变量,以是否进行“营改增”改革作为政策虚拟变量,经过实证分析得出:“营改增”对物流企业的总体业绩、盈利能力、偿债能力和营运能力没有影响。最后,得出本文的结论:“营改增”减轻了物流企业的税负,但对物流企业的业绩没有影响。在本文分析的基础上,提出了完善“营改增”的建议,从政府的角度有:扩大进项税可抵扣范围,降低增值税税率等;从企业的角度有:合理进行纳税筹划,转变经营方式等。
[Abstract]:On January 1, 2012, the pilot reform of "camp reform and increase" was first carried out in some industries in Shanghai, and by May 1, 2016, all industries throughout the country had launched the "camp reform and increase" pilot project in an all-round way. The basic goal of "Business Reform and increase" is to eliminate double taxation, and on this basis to realize the goals of structural tax reduction and industrial structure adjustment. The effect of tax reduction is the focus of the society. As the first few industries to carry out the reform, the tax burden of the logistics industry can well reflect the tax reduction effect of "business reform and increase", and the logistics industry plays an important role in economic development. Therefore, it is more meaningful to study the impact of "business transformation and increase" on logistics enterprises. This paper takes the listed companies of logistics industry as the main body of study, and takes "business transformation and increase" as the research object, and analyzes the impact of the reform on the tax burden and performance of logistics enterprises from both theoretical and empirical perspectives. This paper first introduces the relevant theory and the policy of "business reform and increase", and introduces the theory of tax burden and the theory of performance evaluation. Then, the article analyzes the tax types involved in logistics enterprises, and analyzes the influence of "business transformation and increase" on these taxes. The analysis shows that the increase of "business reform" changes the value-added tax, business tax and enterprise income tax of logistics enterprises, and the logistics enterprises change from paying business tax to paying value-added tax, and the enterprise income tax also changes, but the direction of change is uncertain. On the basis of theoretical analysis, the tax burden of small scale taxpayers and general taxpayers of logistics enterprises before and after "business reform and increase" is calculated. The calculation shows that the tax burden of small scale taxpayers is obviously reduced after the reform. The change of tax burden of general taxpayer is related to the amount of deductible income tax, and the tax burden of enterprises with more income tax is reduced after the reform. In analyzing the performance of logistics enterprises, this paper analyzes the influence of "business transformation and increase" from three aspects: profitability, solvency and operation ability, and points out that the reform has no effect on the performance of logistics enterprises. In the empirical part, the annual data of 67 A-share listed companies in the logistics industry from 2010 to 2015 are selected, and the regression analysis is carried out by using the double difference model. In the tax burden model, the total tax burden rate is taken as the explained variable, and the policy fictitious variable is whether or not the reform is carried out. Through the empirical analysis, it is concluded that the tax burden of the general taxpayers of the logistics enterprises is lightened by the "business reform increase" as a whole. In order to make the regression result reliable, the stability test was carried out after removing some samples. In the performance model, the net interest rate of the index equity and the net interest rate of sales of the profit ability are evaluated respectively. The index asset-liability ratio for evaluating solvency and the total asset turnover rate for evaluating operating ability are explained variables, and the policy fictitious variable is whether to carry out the reform of "reform and increase". Through empirical analysis, it is concluded that "business reform and increase" has no effect on the overall performance, profitability, solvency and operation ability of logistics enterprises. Finally, the conclusion of this paper is as follows: "Business reform and increase" lightens the tax burden of logistics enterprises, but has no effect on the performance of logistics enterprises. On the basis of the analysis of this paper, the author puts forward some suggestions to perfect "business reform and increase", such as enlarging the scope of deductible income tax and reducing the rate of value-added tax, and from the angle of enterprise, making reasonable tax planning and changing the mode of operation, etc.
【学位授予单位】：浙江财经大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F812.42;F259.23;F253.7

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