“营改增”对高技术服务企业盈利能力的影响效应——基于双重差分模型的实证研究

The Impact of the“the Change from Business Tax to Value-Added Tax”on the Profitability of High-tech Service Companies——An Empirical Research Based on the Difference-in-differences Model

为推动产业转型升级,我国大力促进高技术服务业发展,"营改增"政策显著提高了高技术服务企业以净资产收益率为表征的盈利能力,但对高技术服务企业盈利能力的影响存在一定滞后性。"营改增"政策对经济发展水平较高地区、中间投入水平高及人力资本投入低的高技术服务企业的影响效应更为突出。因此,政府部门应考虑到高技术服务企业对人力资本的依赖性较强等特点,进一步完善税率设置和增值税抵扣办法,确保中间投入较低、人力资本水平投入较高的高技术服务企业能够切实享受到政策红利,不断发展壮大。对经济欠发达地区应进一步完善税务办理能力,完善增值税抵扣链条,促进高技术服务业发展。

In order to promote industrial transformation and upgrading,China has vigorously promoted the development of high-tech service industry.The policy of"the Change from Business Tax to Value-Added Tax"has significantly improved the profitability of high-tech service companies characterized by return on equity.However,its impact on the profitability of high-tech service companies is lagging behind.The policy of"the Change from Business Tax to Value-Added Tax"has a more prominent impact on high-tech service companies in areas with higher levels of economic development,high levels of intermediate input,and low human capital input.Since high-tech service companies highly rely on human capital,it is necessary for government departments to further improve the tax rate setting and value-added tax deduction methods so that high-tech service companies with low intermediate input and high level of human capital input can earnestly enjoy the policy dividend and develop well.For economically underdeveloped areas,it is important to further improve tax handling capabilities and the value-added tax deduction chain so as to promote the development of high-tech service industries.