企业税费负担对经济高质量发展的影响分析--来自我国制造业的证据

An Analysis of the Impact of Corporate Tax and Fee Burden on High-Quality Economic Development:Evidences from China's Manufacturing Industy

我国经济进入高质量发展阶段,减税降费是推动经济发展和供给侧结构性改革的重要政策工具。以2013—2018年A股制造业上市公司为研究对象,构建多元回归模型,实证分析企业税费负担对经济高质量发展的影响。研究表明:企业税费负担的降低能够提高制造业全要素生产率,推动经济高质量发展。其中,降低增值税与所得税负担,能够增加企业现金流与科技研发投入,进而提升生产效率;而社会保险费用负担的降低仅通过增加现金流的方式刺激全要素生产率。进一步研究发现:税负降低对小规模企业影响更为显著,而社会保险费负担降低对大规模企业更能发挥作用;税费改革多措并举能够产生更大的政策激励效果。因此,在巩固现有减税降费成果的基础上,继续拓展减税降费政策的成效,为经济高质量发展提供新动力;进一步优化增值税税率结构,差异化减免企业所得税负担;提高社会保险费的财政补贴,优化调整涉企收费,降低企业制度性交易成本。

When China's economy enters the high quality development stage,the reduction of taxes and fees is playing an important role of policy instrument in promoting the economic develop-ment and the supply-side structural reform.Taking the A-share manufacturing listed companies from 2013 to 2018 as research objects,this paper constructs a multiple regression model to empirically an-alyze the impact of corporate tax burden on high-quality economic development.The findings show that the reduction of tax burden can improve the total factor productivity of manufacturing industry and promote the high-quality development of economy.Among them,reducing the burden of val-ue-added tax and income tax can increase enterprise cash flow and R&D investment,and then im-prove production efficiency;while reducing the burden of social security costs can only stimulate the total factor productivity by increasing cash flow.The result of further research shows that the impact of tax burden reduction on small-scale enterprises is more significant,while the impact of social secu-rity burden reduction on large-scale enterprises is more significant;multiple tax and fee reforms with a variety of measures can produce greater policy incentive effect.Therefore,it is neeessary to further expand the scale of tax reduction ffect,provide new momentum for the high-quality economic devel-opment,further optimize the tax rate structure of value-added tax,reduce the income tax burden or the enterprises differently,increase the fiscal subsidies on social insurance charges,optimize and adjust the charges related to enterprises,and reduce corporate institutional transaction costs on the basis of consolidating the existing results of taxes and fees reduction.