“一带一路”倡议与企业税负

The Belt and Road Initiative and Corporate Tax Burden

“一带一路”倡议的实施为中国企业实现高质量对外投资提供了良好的制度环境与政策支持,极大地促进了中国与沿线国家的贸易合作。研究基于2009-2018年中国A股非金融类上市公司数据,运用双重差分法考察“一带一路”倡议对企业税负水平的影响。研究发现,“一带一路”倡议显著降低了参与倡议企业的税负水平,税费返还与投资税盾等政策激励是促使参与倡议企业税负降低的主要原因,参与倡议企业未表现出明显的避税动机。“一带一路”倡议对企业税负的缓解作用在民营企业、地方国有企业、重点合作行业以及面临较高税收征管强度的企业中更显著。研究丰富了“一带一路”倡议微观经济后果方面的文献,为进一步降低对外投资企业的经营成本提供了启示。

The Belt and Road Initiative(BRI)has established a conducive institutional framework and policy backing aimed at facilitating high-quality foreign investment,thereby fostering trade collaboration between China and the nations along the Belt and Road.Utilizing a data set comprising non-financial firms listed on China’s A-share market from 2009 to 2018,this study employs a difference-in-differences methodology to investigate the impact of the BRI on corporate tax burden.The empirical findings reveal a significant reduction in the tax burden of firms participating in the BRI.This effect is primarily attributable to policy incentives such as tax returns and investment tax shields,rather than motives of tax avoidance.Moreover,the observed decrease in tax burden is more pronounced among non-SOEs,non-central SOEs,key industries involved in BRI cooperation,and firms with stricter tax enforcement.This study contributes to the existing literature on the micro economic consequences of the BRI and provides implications for further reducing the operating costs of oversea investment firms.