增值税转型对珠三角外向型企业影响的实证研究

An Empirical Study of the Impact of VAT Transformation on Export-oriented Enterprises in the Pearl River Delta

以珠三角外向型企业数据为基础,就增值税转型对珠三角的税负和收益、主要行业和城市的影响进行了横向对比研究。结果表明:平均税收负担减少额为1.0033%,销售净利率增加额和净资产收益率增加额分别为0.1396%和0.1395%,当年新增允许抵扣固定资产多的企业受增值税转型影响较大,反之,则较小;增值税转型对固定资产投资较多的电信行业影响较大,对固定资产投资较少的房地产业行业影响较小;增值税转型对区域的影响程度也不相同,与区域经济发展水平并不完全一致,各个地区外向型企业增值税转型情况并不能很好地代表当地的实际经济发展水平。

Based on the data from export-oriented enterprises in the Pearl River Delta, this paper analyzes the impact of VAT transformation on the three aspects such as turnover tax burden and profit, major industries and regions. Firstly, the results show that the average turnover tax burden decreases by 1.0033%, and the average rate of net profit margin on sales and the average rate of return on common stock holders＇ equity are 0.1396% and 0.1395% respectively. The export-oriented enterprises with more new fixed assets which are allowed to be deducted have greater impacts while the others have weaker impacts. Secondly, the impacts in different industries are different. Some industries have greater impacts, for example, the telecommunication industry with more investment on fixed assets while the other industries have weaker impacts, for example, the real estate industry with less investment on fixed assets. Thirdly, the impacts in different regions are also different. The impacts are not entirely consistent with the development of regional economy. And the actual situation of the impacts can not represent the economic development of the local level.