个税改革的政策效应和替代效应

The Policy Effect and the Substitution Effect of Individual Income Tax Reform

本文以2011年个税改革的实施为准自然实验,构建双重差分模型考察2011年个税改革对微观企业长期竞争力的政策效应,在此基础上构建三重差分模型检验企业主动进行的个人所得税筹划对2011年个税改革的替代效应。研究结果显示,与劳动密集度较低的企业相比,劳动密集度较高的企业在2011年个税改革后竞争力显著下降,表现为2011年个税改革的政策效应;进一步研究发现.由于个人所得税筹划与个稅改革均具有为职工减轻税负的作用,个人所得税筹划力度较高的企业较个人所得税筹划力度较低的企业而言,2011年个税改革对其竞争力的削弱作用更小,即个人所得税筹划产生个税改革的替代效应。本文识别并揭示了2011年个税改革对企业竞争力的作用机理,拓宽了个税改革的研究视野,补充并完善了个税改革的微观效应研究,为未来个税的进一步改革和完善提供了重要参考。

Based on the natural experiment of the implementation of the 2011 individual income tax reform,this paper constructs a difference-in-difference model to investigate the policy effect of the 2011 individual income tax reform on the long-term competitiveness of enterprises.On this basis,the paper constructs a difference-in-difference-in-difference model to test the substitution effect of the personal income tax planning that enterprises take the initiative to carry out on the 2011 individual income tax reform.The results show that compared with enterprises with lower labor intensity,enterprises with higher labor intensity have significantly reduced competitiveness of enterprises after the 2011 individual income tax reform,this is reflected as the policy effect of the 2011 personal income tax reform.Further study finds that,considering the reduction of tax burden for enterprise employees by individual income tax reform and individual income tax planning,companies with higher degree of income tax planning will have lesser effect on corporate competitiveness compared with companies with lower degree of income tax plan ning during the 2011 in dividual income tax reform,and it leads to the conclusion of substitution effect of individual in come tax reform.This paper identifies and reveals the mechanism of 2011 in dividual income tax reform on en-terprise competitiveness,broadens the research horizon of individual income tax reform and complements the micro effect research of individual income tax reform.It also provides reference for the further individual income tax reform in the future.