Taxation Policy to Promote Iron and Steel Industry Development
|School||Dongbei University of Finance|
|Keywords||iron and steel industry tax policy tax burden tax system|
Iron and steel industry is the basic industry to national economic and it plays an important roal in the process of our country’s industrialization and urbanization. Iin recent years,our Iron and steel industry has seen a speedy development and we have made a great progress in energy-saving and emission-reduction, iron and steel industry could meet the demand of economic and social development. But at the same time, restraining factors such as resources and environment have gradually increased and structural contradictions are still outstanding. There are still low product quality,irrational structure and layout, higher energy consumption per unit,high pollution and weak innovation in our iron and steel industry. During the period of the12th Five-Year Plan, The overall macroeconomic start into the structural adjustment period and Restructuring and adjustment will become the key words in the steel industry. For this reason, our country should also introduce appropriate tax policy to encourage steel companies to finish transition and adjustment smoothly. Tax system and policy design, adjustments and changes will eventually become the tax burden problem; Reasonable tax burden is the starting point of the tax system and policy design, adjustment and reform, and it is the basic measure to evaluate the scientificalness of the tax system and policy. What is more, tax burden is the ligament between tax and national economy, tax policy effect macro and micro economic by the changes in the tax burden. So only by understanding the tax burden rule and analysing the unfairness and unreasonableness in it can we provide decision basis for our country to implement tax system reforms.In this paper, tax burden analysis is used as a tool, compare the tax burden of the iron and steel industry with the manufacturing’s, analyse the tax burden of iron and steel industry in different regions, and give the reasonable advice to the tax burden of the iron and steel industry on the basic of the analysis on tax burdens at last. Concrete content includes the following sections:The first section is the introduction, research background and significance, research trends at home and abroad and research idea are discussed broadly in this part. The second part is the theoretical analysis about tax policy and tax burden, the definition of the tax burden, classification of the tax burden, the principle of the tax burden and the restraining factors of the tax burden are introduced in detail in thia part.The third part is about the tax policy environment that the iron and steel industry face to and the empirical analysis of the iron and steel industry’s tax burden. In the first, a brief preferential tax policies which are relevant to the iron and steel industry are introduced methodically, the problem in the iron and steel industry and its tax policy are listed after that. And then, an analysis on the iron and steel industry’s tax burden is implemented. After the collation of data we find that the overall tax burden of the iron and steel industry is higher than the overall tax burden average value of the manufacturing, through the further analysis on the VAT tax burden and the income tax burden can we get that the iron and steel industry’s VAT tax burden is also higher than the manufacturing’s and the iron and steel industry’s income tax burden is lower than the nominal tax rate but it has an upward trend, what more, the iron and steel industry’s income tax burden in the midland is very heavy and it has reached44%in2011with an upward trend. At last, double logarithmic regression model is used to take multiple regression analysis to the influencing factors of China’s steel industry’s tax burden, the conclusions is:The size of the company has no significant effect on its tax burden; The ratio of fixed assets to total assets has a positive significant effect on the tax burden; asset-liability ratio has no significant effect on its tax burden; Both return on total assets and sales profit margin have positive significant effects on the tax burden; Preferential tax policies in the western region have negative significant effect on tax burden. At the end of this part,some explainations of the phenomenon which appear befor are given out.The forth part ia about advices to the tax policy on the basic of empirical results in the third part.