中国上市公司企业所得税边际税率的实证研究

Empirical Study of Corporate Marginal Tax Rates of Chinese Listed Companies

基于中国财税法规与资本市场现状,采用5种不同边际税率估算方法对中国1859家上市公司2007—2014年边际税率进行估算。针对不同年度、行业的边际税率分布及变化情况进行分析,得出影响中国企业边际税率的主要因素,为国家企业所得税税收优惠政策的制定提供更科学的视角。同时通过对比分析,找出理论最佳模拟边际税率估值法的简易替代估值计算方法,结论对中国边际税率估值、计算和研究有着重要意义。

The study is based on Chinese financial and tax regulations with capital market situation consideration. By adopting five different marginal tax rate （MTR） estimation methods, the MTRs of 1859 listed companies are estimated from 2007 to 2014. According to annual MTR and industrial MTR analysis, the most influential factors on MTR are found, which also helps the government to formulate enterprise income tax preferential policies with more scientific prospective. Evidence is found that trichotomous and uniform MTR estimation methods are reasonable alternative methods to the theoretical sound simulation MTR estimation method,which is important to further research on MTR in China.