Proposal for a Tax Rate Swap to Shield Against the Gap Between Statutory and Effective Tax Rates-A Boost for Entrepreneurship and a Motive for New Investments

This paper focuses on a common problem for entrepreneurs and investors:the uncertainty around the actual tax rate,which is the percent of net income that a corporation pays in taxes.This uncertainty results from a difference(i.e.,a gap)between the statutory and the effective tax rate,which is the actual tax rate.This gap results from the legal framework which provides that certain types of incomes and expenses are not considered income.This gap causes significant uncertainty and may hinder entrepreneurship.This paper studies this gap in seven OECD countries(Austria,Canada,France,Germany,Italy,UK,and USA)and Brazil.We selected the 10 top-listed companies of each country and calculated the gaps for the period 2016-2019.Our findings proved that these gaps are unstable and may differ between companies of the same country and between countries.In addition,gaps of specific companies may change over time.The key outcome of this paper is the proposal of a new derivative tax rate swap.Using this derivative,governments will be able to eliminate the gap of specific companies,attract new investment,and increase entrepreneurship.

From Government to Enterprises:How Tax Sharing Interacts with Tax Rates

Tax sharing embodies central-local government fiscal relations and tax rates reflect government-market relations.Research on the interactions between tax sharing and tax rates helps uncover the effects of central-local fiscal relations on government-market relations.According to our study,China's flexible tax sharing and differential tax rates facing firms are two important typical facts;theoretical analysis discovered that effective corporate tax rates are influenced by local government preferences and tax sharing ratio;empirical analysis found that increasing CIT and VAT sharing ratios for governments at city and county levels led to the reduction of tax evasion and increase of effective tax rates.The above conclusions have revealed the unique mechanism of how government-market relations are influenced by fiscal system,explains the sources of differential tax rates facing Chinese firms,and provides reference for next-step fiscal reform.

A simplified differential game model for the optimal choice of tax rate

A classical problem on optimal choice of tax rate from the perspective of differential game approach is studied. Under some appropriate assumptions on the profit and utility functions, the open-loop Stackelberg equilibrium solution which is time- dependent is obtained. Result shows that 1) the optimal strategies derived from differential game and traditional unilateral optimal control approaches are different; 2) both marginal profit rate and the market rate of interest have great effect on the equilibrium solution; and 3) the government should think about the firm’s potential reaction when selecting tax rates and the timing of taxation.

Some Comments on Tax Competition and Its Potential Effects on Tax Rates and Revenues

Corporate taxation is seen as the price of investing in a country, that is, the price either for the right to do business within the jurisdiction or for the supply of public goods. If consumption of that right or those public goods is mobile between jurisdictions and price competition ensues which will force prices together. Also, in the case of high tax regimes, a fall in the tax burden would be anticipated. In other words, countries will spontaneously harmonize their tax systems or face the loss of intemational investment and the disadvantages they bring.

Consequences of Tax Rate Decrease in Polish Tax System

After a transition from the central planning into a market economy, Poland was compelled to implement a new tax system. It was based on income taxes and turnover （especially value added） taxes. Primarily income taxes had high tax rates. In corporate tax the rate was proportional and at the beginning amounted to 40%. For natural persons the taxation had a progressive tendency. The tax rates amounted to 21%, 33% and 45% respectively with very low limits of income, which resulted in changing the rate. Since the beginning of 1991 and 1992 till now the tax rates have been decreased significantly. Now the tax rates amount to 18% and 32% respectively with high level of income, which results in changing the rate. The question arises whether such changes were really effective for the central budget. The article formulates and verifies a hypothesis assuming that lowering the rates was justified by the contemporary ＂fashion＂ rather than economic reasons. According to financial aspects, the impact of lower rates on the central budged will be examined.

Estimation of the Optimal Tax Rate of Domestic Sewage in Binzhou City

The optimal tax rate of COD and ammonia nitrogen was estimated based on the estimated economic loss caused by domestic sewage and the determined tax base in Binzhou City.The results show that due to the pollution of COD and ammonia nitrogen,the average economic loss of domestic sewage in Binzhou City from 2010 to 2017 was 167.292 million and 178.040 million yuan respectively.The average pollution equivalent amount of COD and ammonia nitrogen in domestic sewage in Binzhou City was 43435 and 3900 t respectively,and the average optimal tax rate of COD and ammonia nitrogen was 3.85 and 45.65 yuan/kg respectively.That is,residents should pay a pollution tax of 3.85 yuan for every 1 kg of COD discharged and a pollution tax of 45.65 yuan for every 1 kg of ammonia nitrogen discharged.

Unintended Results:Inter-Provincial Differences in Environmental Protection Tax Rates and Relocation Strategies of Polluting Enterprises

The Environmental Protection Tax Law that took effect in 2018 gave local authorities a certain amount of discretionary power to set the local rates for environmental protection tax.The inter-provincial gradient tax rates pattern may induce strategic relocation of enterprises,leading to unintended policy results.Combined with the data on trans-regional investment of listed companies,this paper employs the Difference-in-Difference(DID)approach to study the impact of inter-provincially different environmental tax rates on the trans-regional migration of polluting enterprises.The study shows that due to the regional differences in the tax rates,the polluting enterprises opt for the relocation strategy of"avoiding high tax rates and opting for low rates",setting up more subsidiaries in regions with relatively low tax rates.Further research demonstrates that the trans-regional migration induced by different tax rates can help reduce production costs and increase corporate profits,while dampening the corporate enthusiasm for green innovation in the short term and resulting in pollution transfer.This paper reveals the unintended policy effects that may derive from the environmental tax reform,providing concrete proof for the comprehensive evaluation and understanding of the actual policy effects of existing environmental tax reform.

Choice and Simulation of Tax Rates in Resource Tax Reform

Resource tax reform will be done during China＇s 12m Five-Year Plan, but related research is still lacking. Here, we build a computable general equilibrium model （CGE） comprising the functional equations of production, consumption, income/expenditure and resources to analyze the resource tax rate. The model uses the valorem tax levy to simulate the impact of economic and resource systems with different resource tax rates, by referencing the expected rate ranges of China and developed countries. The results show that the impact is different for social, economic and resources of varying degrees. In the relatively stable period of economic development, we can select a tax rate of 5% to 7%; during higher economic development we can select an optional high level of resource tax; and in a fluctuating economy we can choose a lower tax level.

A STACKELBERG DIFFERENTIAL GAMES SOLUTION TO A PROBLEM OF OPTIMAL INTERTEMPORAL INVESTMENT AND TAX RATE DESIGN

Using the Stackelberg differential games(SDG) theory,we quantitatively study a problem of optimal intertemporal investment and tax rate design.Under some appropriate assumptions,the open-loop Stackelberg equilibrium solutions are obtained.Equilibrium solutions show that:1.The optimal strategies derived from differential game and unilateral optimal control approaches are different;2.It is not always the best strategy for the government to use a constant tax rate over the whole time period;3.The admissible size of tax rate adjustment may have great effect on the government's optimal strategy;4.SDG approach has no significant effect on the firm's optimal investment strategy.

Asymptotic Marginal Tax Rate of Individual Income Tax in China

This paper examines the asymptotic marginal rate of individual income tax which maximizes China's social welfare through numerical simulation based on the elasticity of China's labor supply, income distribution and the social objectives of redistribution in accordance with the optimal direct taxation theory. Taking advantage of the optimal direct taxation model with consideration of the income effect, it comes to the conclusion that combined with China's reality, the asymptotic marginal rate of individual labor income tax in China should be between 35% and 40%.

工程总承包模式下的税金计算研究

以我国工程总承包推进实践中工程计价中存在的税金计算难题为研究对象,探讨实践中存在的增值税认识偏差的根源。在引入增值税税负率、综合税负率的基础上,提出总承包模式下计算税金的思路:用税前含税工程造价作为增值税及工程造价税金的计算基数。采用典型案例、企业访谈分别测算工程费用、其他费用的增值税税负率及综合税负率,并据此确定基于综合税负率的工程总承包项目工程造价的计算程序。用简易计税的思路计算税金,简化工程总承包项目工程造价的确定,希望为工程总承包计价提供支撑。

增值税减税能否提高制造业企业全要素生产率?--基于增值税税率下调事件的经验研究

深化税制改革是激发市场主体活力、加快制造业转型、实现经济高质量发展的重要路径。基于2016—2020年中国沪深A股上市公司数据,研究了2018年和2019年增值税税率下调对制造业企业全要素生产率的影响。研究发现,增值税减税提高了制造业企业的全要素生产率。异质性分析结果显示,对于市场竞争地位高、国有产权、处于成熟期以及高市场化地区的企业而言,增值税减税对全要素生产率的提升效应显著。渠道分析表明,研发投入、人力资本投入以及资本配置效率是增值税减税影响企业全要素生产率的主要渠道。因此,政府部门应继续深化增值税改革,缩小制造业与其他行业的税率差异,切实减轻制造业企业税收负担,同时应加大对民营、初创等弱势企业的财政扶持力度,全面提高各类企业的全要素生产率。

中国企业所得税的有效税率差异研究——基于财务报表附注数据的分解

本文基于上市公司财务报表附注数据,对企业所得税有效税率差异的形成因素进行了分解。研究发现如下:第一,近年来企业所得税优惠政策不断推出,其中税基式优惠的增长尤为明显;第二,随着优惠规模的扩大,企业的有效税率普遍下降,但企业间的税负差异也随之扩大;第三,税收法定的制度因素对有效税率差异的影响至关重要,其中,适用税率的大小是决定企业有效税率高低的关键因素,而税基调整项中的暂时性差异是有效税率差异的最主要来源。本研究强调,未来的税收政策应更注重效率与公平的权衡,同时考虑企业认知能力的差异,税制设计应避免过于复杂和碎片化。

纳税信用评级制度与企业劳动收入份额

采用2011—2020年A股上市公司为研究样本,探讨了纳税信用评级制度对企业劳动收入份额的影响及其机理。研究发现:纳税信用评级制度显著提高了企业劳动收入份额。机制分析表明,纳税信用评级制度通过缓解企业融资约束和调整企业雇佣决策进而影响企业劳动收入份额。异质性分析发现,纳税信用评级制度对劳动收入份额的促进作用对于非国有企业、信息不对称较高企业以及普通员工更为显著。本研究对于提高劳动收入份额,促进共同富裕具有重要意义。

纳税信用评级、信息不对称与企业债务融资成本

纳税信用评级制度是我国社会信用体系建设在税收领域的一项重要改革措施,也是税收现代化建设的重要组成部分。基于2014—2019年我国沪深A股上市公司的数据,实证检验了纳税信用评级对企业债务融资成本的影响,研究表明纳税信用评级与企业债务融资成本负相关,纳税信用评级为A级可以降低企业的债务融资成本;机制检验发现,纳税信用评级为A级可以通过降低企业和银行之间的信息不对称程度,进而降低企业的债务融资成本;进一步的异质性分析发现,相比于国有企业,纳税信用评级对企业债务融资成本的影响在非国有企业中更加显著。研究结论丰富了纳税信用评级与企业债务融资成本的研究,也为推进社会信用体系建设、完善税收征管方式提供了一定的借鉴。

税收负担、财政自给率与城市高质量发展

健全的财税体制是推动高质量发展的重要保障。为厘清税收负担、财政自给率与经济高质量发展的关系,有效贯彻长三角一体化国家战略,选取长三角41个城市2008—2019年面板数据,采用极值熵值法测算长三角城市高质量发展指数,运用Tobit模型实证检验税收负担和财政自给率对城市高质量发展的影响。研究发现:整体上看,长三角城市高质量发展呈阶段性波动趋势,且区域异质性明显,上海居于首位,浙江和江苏次之,安徽相对靠后。从子系统看,长三角城市高质量发展子系统指数中绿色>创新>开放>共享>协调。从实证结果看,税收负担和财政自给率都显著促进高质量发展,税收负担与财政自给率的交互项亦显著促进高质量发展。控制变量中,政府支出规模和经济发展水平对高质量发展的影响不确定,且未通过显著性检验,产业结构和能源消费结构与高质量发展具有负相关关系,城镇化水平与高质量发展具有正相关关系。

面向中国海关进出口商品税率检测的预训练语言模型CC-BERT

判定商品税率以便进行税收是海关最重要的职能之一,其肩负着国家财政收入与再分配的重要作用。预训练语言模型(BERT)的提出,刷新了众多自然语言处理任务的最优结果。但是由于海关文本数据的特殊性,导致BERT在海关进出口商品税率检测(文本分类)任务中表现较差。针对这个问题,该文提出一种新的预训练语言模型CC-BERT。在模型预训练阶段,提出了全要素掩蔽策略以及预测规格型号与申报要素是否对齐(NCA)两种全新的预训练策略。CC-BERT可以降低既定文本顺序对模型性能的负反馈,以及加强规格型号与申报要素之间的联系。在真实的海关税率检测任务上的实验结果表明,该方法具有更强的鲁棒性,分类性能指标优于基线模型,F_(1)值在两个数据集上分别达到90.52%和80.10%。

“策略”与“实质”,孰“轻”孰“重”?——绿色税制改革与企业ESG表现

2018年中国启用环境保护税代替排污费,企业将采取实质性行动还是策略性举措来应对?本文以《环境保护税法》出台为准自然实验,从税率变动角度考察环境保护税改革对企业ESG表现的影响。研究发现:《环境保护税法》实施后,税率提升地区相较于税率不变地区,企业ESG表现、S表现、G表现差异不显著,但企业E表现显著提升。机制分析表明,上述对企业E表现的促进作用是通过提升企业策略性环保举措和策略性绿色创新实现的,而并非企业实质性环保行动和实质性绿色创新。进一步分析发现,追求短期目标和管理层短视主义是企业重“策略”轻“实质”的原因。本文不仅丰富了《环境保护税法》颁布对企业ESG表现影响效果的评估,更为推动我国绿色税制发展提供有益参考。

增值税下两种工程计价税金计算方式的应用研究

随着政府投资管控的强化和工程总承包模式的大力推行,为更好地适应和满足投资估算、设计概算、施工图预算以及不同阶段发承包方式的计价需要,对增值税下工程计价税金计算方式进行了深入的应用研究。在介绍一般计税法和简易计税法的基础上,深入分析“人为除去进项税”及“用综合计税率计税”两种工程计价税金计算方式,提出:采用综合计税率调整工程计价规则是最适宜的工程计税方式,该方式顺应商品市场定价方法,与现行纳税规定契合。采用综合计税率在工程建设不同阶段、不同发承包模式下计价均适用。希望通过梳理需要解决的计价规则认识问题,提出税金计算建议,为“综合计税率”扫清理解障碍并奠定一定的推广应用基础。

环境税对生猪养殖业污染物减排的激励效果研究——内在机制与合理税率

构建包含生猪养殖户、政府、消费者3个利益相关主体的一般均衡模型,从工艺改造和末端治理两个层面剖析环境税对畜禽养殖户污染减排的内在影响机制,并基于中国2007~2020年省级面板数据,实证检验了环境税与生猪养殖业污染物排放量之间的非对称关系,进而核算出能够激励养殖户进行减排投资的合理税率区间.结果发现:随着环境税率的增加,生猪养殖业的污染物排放量表现出先增后减的倒U型特征;当税率达到5.20~5.75元/污染当量区间时,养殖户才有动力进行减排投资活动.机制分析结果表明,环境税倒逼养殖户安装污染处理设备和改用精饲料是其主要路径,贡献度分别为34.19%和23.34%.环境税的减排效应在重点发展区和约束发展区更为明显,且相较于中规模养殖户,需设定更高的税率才能激励大规模生猪养殖户进行减排投资.