“两税合一”与企业投资行为

“Two Taxes Combined” Policy and Corporate Investment Behavior

本文通过研究2008年1月1日起实施的新企业所得税法对企业投资行为的影响,从企业微观层面出发来研究"两税合一"企业所得税改革的政策效应,采用双重差分模型(DID)研究企业所得税改革对企业投资行为的影响。基于本文研究结果,我国在当前全球性税制改革的大背景下要从基本国情出发,适度降低我国企业所得税,撤销非必需的税收优惠政策,适当给予高税负企业税收优惠,通过税收政策的调整来支持中部地区和西部地区的发展。

This article studies the impact of a new corporate income tax on firms’ investment behavior. It uses firm-level data and a differences-in-differences model(DID) to study the impact of the new corporate income tax reform on corporate investment behavior. Based on the results, the paper suggests that we should lower the corporate income tax rate on the background of global tax reform, eliminate the unnecessary tax preferential policies, give a tax incentive to highly-levied firms, and adjust tax policy to support central and western regions.