我国慈善捐赠企业所得税政策激励效应评估——基于中国上市公司数据断点回归设计的数量分析

Evaluation on the Incentive Effect of Corporate Income Tax Policy of Charitable Donation——Based on Discontinuity Regression Design of the Listed Companies in China

2008年1月1日实施的《企业所得税法》将企业慈善捐赠税前扣除比例由年度利润总额3%提高到12%,这一激励政策调整的力度是比较大的。那么,政策实际执行效果如何?是否对企业慈善捐赠产生了真正的激励作用?以2008年作为一个时间节点,选用2003-2014年在中国A股交易的2809家上市公司作为样本企业,运用序列组齐性检验、chow稳健性检验、断点回归设计的方法,对2008年以前和以后的企业所得税慈善捐赠税前扣除政策进行效果评估。主要结论是:现行的企业所得税慈善捐赠税前扣除政策显著提高了企业慈善捐赠的绝对规模,受政策影响2007、2008年企业捐赠支出增长率大幅提升,以后逐步平稳;我国企业目前慈善捐赠倾向仍然较低,且单一的限额扣除激励政策降低了非外资企业慈善捐赠倾向;所得税政策对不同类型企业慈善捐赠激励效应存在差异,外资企业对现行慈善捐赠政策反向激励效应不显著。因此,需进一步优化税收优惠制度结构,注重制度安排的多元性。

The Enterprise Income Tax Law implemented in January 1,2008 raised the proportion of the tax deduction for enterprises＇ charitable donations from the 3% of total annual profit to 12%. It is an obvious policy adjustment and we hope to know whether it has a real incentive effect on corporate charitable giving. Taking 2008 as a time point, selecting 2809 samples from 2003- 2014 Chinese trading A shares, we evaluate the effect of the tax deduction policy before and after 2008 by using the equality test, chow breakpoint tests and dummy variable regression. The main conclusions are as follow ： The current tax policy enlarges the absolute scale of corporate charitable donation spending, the donation spending in 2007 and 2008 increased obviously and then kept stable ; The willingness of corporate donation is still low and the current simple tax deduction policy reduces the propensity of donation of the domestic corporate ; The current income tax policy has different incentive effect on different types of corporate and the financial enterprises have no significant in- centive reaction to the current charitable donation policy. Therefore, we should further optimize the structure of tax policy system and pay more attention to the diversity of institutional arrangements.