The“Announcement on Deepening the Value-Added Tax Reform”clearly outlines the preferential policy regarding incremental retention tax rebates.With the advancement of value-added tax(VAT)reform and the improvement of...The“Announcement on Deepening the Value-Added Tax Reform”clearly outlines the preferential policy regarding incremental retention tax rebates.With the advancement of value-added tax(VAT)reform and the improvement of VAT legislation in China,VAT tax planning for construction enterprises,particularly related to retained tax credits,has become routine.This paper,focusing on the characteristics of construction enterprises,analyzes VAT retained tax credits at the end of the period,the status of tax refunds,practical issues,and related processes,and offers suggestions for policy application and risk prevention.展开更多
The tax credit rating mechanism was formally implemented in 2014.As an important tax collection and management innovation,it has attracted the attention of regulatory authorities and scholars.Different from the litera...The tax credit rating mechanism was formally implemented in 2014.As an important tax collection and management innovation,it has attracted the attention of regulatory authorities and scholars.Different from the literature that directly examines corporate tax compliance,we focus on the impact of tax credit rating implementation on corporate research and development(R&D)investment decisions.Using listed companies’data from 2014 to 2019,we find that companies with higher tax credit ratings invest more in innovation,because the system helps managers identify R&D opportunities,alleviates corporate financing constraints and reduces agency costs.We confirm that tax credit ratings have manifold impacts on corporate information environments and business decisions,with better ratings positively affecting firms’business decisions.This discovery can inform tax policy reform,encourage corporate innovation and construct social credit systems.展开更多
Today,international taxation is at an inflection point.The implementation of action plan on base erosion and profit shifing(BEPS)and enforcement of the Belt and Road Initiative are reshaping taxation rules and princip...Today,international taxation is at an inflection point.The implementation of action plan on base erosion and profit shifing(BEPS)and enforcement of the Belt and Road Initiative are reshaping taxation rules and principles.As a crucial aspect of outbound taxation,foreign tax credit is expected to embrace the normative objectives of the new era,which emphasize the importance of subjecting all trans-border business activities to equitable,efficient,and coordinated taxation.Currently,China's foreign tax credit prescribes in an incompatible pattern;it lacks clear legislative intent,despite marking specific rules with archaic unilateral characters.To reform this regime,legislative principle should reflect the latest consensus on the economic activities'nexus and ensure that the income derived from trans-border transactions falls under a minimum tax.Regarding specific rules,it is strongly suggested that active and passive incomes be distinguished and the equity holding threshold of obtaining indirect credit be lowered.China's foreign tax credit reform should take an inclusive perspective,actively participating in the cooperation between countries.展开更多
文摘The“Announcement on Deepening the Value-Added Tax Reform”clearly outlines the preferential policy regarding incremental retention tax rebates.With the advancement of value-added tax(VAT)reform and the improvement of VAT legislation in China,VAT tax planning for construction enterprises,particularly related to retained tax credits,has become routine.This paper,focusing on the characteristics of construction enterprises,analyzes VAT retained tax credits at the end of the period,the status of tax refunds,practical issues,and related processes,and offers suggestions for policy application and risk prevention.
基金funded by grants from the Natural Science Foundation of China(No.71872048)
文摘The tax credit rating mechanism was formally implemented in 2014.As an important tax collection and management innovation,it has attracted the attention of regulatory authorities and scholars.Different from the literature that directly examines corporate tax compliance,we focus on the impact of tax credit rating implementation on corporate research and development(R&D)investment decisions.Using listed companies’data from 2014 to 2019,we find that companies with higher tax credit ratings invest more in innovation,because the system helps managers identify R&D opportunities,alleviates corporate financing constraints and reduces agency costs.We confirm that tax credit ratings have manifold impacts on corporate information environments and business decisions,with better ratings positively affecting firms’business decisions.This discovery can inform tax policy reform,encourage corporate innovation and construct social credit systems.
文摘Today,international taxation is at an inflection point.The implementation of action plan on base erosion and profit shifing(BEPS)and enforcement of the Belt and Road Initiative are reshaping taxation rules and principles.As a crucial aspect of outbound taxation,foreign tax credit is expected to embrace the normative objectives of the new era,which emphasize the importance of subjecting all trans-border business activities to equitable,efficient,and coordinated taxation.Currently,China's foreign tax credit prescribes in an incompatible pattern;it lacks clear legislative intent,despite marking specific rules with archaic unilateral characters.To reform this regime,legislative principle should reflect the latest consensus on the economic activities'nexus and ensure that the income derived from trans-border transactions falls under a minimum tax.Regarding specific rules,it is strongly suggested that active and passive incomes be distinguished and the equity holding threshold of obtaining indirect credit be lowered.China's foreign tax credit reform should take an inclusive perspective,actively participating in the cooperation between countries.
