税费制度改革与企业升级研究

【作者】 王伟；

【导师】 吴一平；

【作者基本信息】 上海财经大学 ， 财政学， 2022， 博士

【副题名】基于税费不公平、不确定以及供应链传导的视角

【摘要】 经过改革开放四十多年的高速发展,粗放式的增长模式已经不能持续,中国经济已经由年两位数增长速度进入边际增长速度降低的“新常态”阶段,推动企业升级以及经济的整体高质量发展迫在眉睫。税费制度是主权国家为了实现国家职能和调控经济所制定的包含税费体制、税费法规、税费征管、税费配置等的一系列规则总称,其作为宏观经济调控的重要抓手,在关键转型期作用更加凸显。但是长期来在“摸着石头过河”的改革思路下,我国税费制度一直处于碎片化修补完善状态,这种未从整体出发的税费制度改革虽然也取得了一定的成效,但是无法从根本上理顺生产关系(税费制度)与生产力(企业升级)的矛盾,有时反而会使得财税问题越改越复杂。税费制度作为最为重要的生产关系要适应生产力的不断发展,但是当前税费制度已经与经济发展形成了三大矛盾:税费“效率”与“公平”失衡带来的经济结构失衡,与税费制度推动经济发展升级初衷之间的矛盾;税费政策频繁调整的促进发展初衷,与企业升级需要稳定制度环境之间的矛盾;分割市场联系紧密程度增加造成的税费制度传导效应越来越强,与当前的税费制度建设忽略制度后果传导效应之间的矛盾。这三大矛盾就是税费制度改革的核心关键所在。财政学试图从税费制度的征管改革角度寻找“公平”与“效率”的均衡点;新制度经济学试图从非正式制度对正式制度的补充角度,寻求降低税费制度不稳定不利影响的解决方案;经济学试图从资源配置的角度,探索降低税费对自由市场要素配置扭曲的可行路径;法律学试图从“有法”与“执法”的角度,寻找税费公平的可行发展路径。基于此,本文梳理我国税费制度发展的历史沿革、改革措施及实施效果,企业升级的宏观背景、意义以及与发展阶段配套的税费制度,总结、对比、分析国内外关于税费制度改革、税费作用机理、企业升级的主流文献,对根本概念进行界定,发现研究文献互相矛盾冲突之处、理论不完善之处以及对实践支撑的不足之处。在此基础上,本文系统归纳了税费制度改革的三个主要研究视角——区域横向维度的税费制度改革不公平视角、时间纵向维度的税费制度改革政策稳定视角、供应链传导维度的税费制度供应链传导视角,理论分析与实证研究并重,按照“提出问题——理论分析——实证分析——研究结论”的逻辑链条,对税费制度对企业升级的影响展开研究,并对税费制度改革影响企业升级的路径进行识别。着重研究了以下三个方面:首先,横向税费不公平与企业升级。企业面临的税费不公平程度越高,信息对称改革带来的税费不公平程度降低就越明显,因此改革前企业是否遭受税费不公平待遇与税费征管改革是否已实施的乘积可以用作表示企业税费不公平程度的降低。本文以2000～2019年间的上市公司作为样本,分别以金税三期改革、社保费由人力部门征收转为税务部门征收作为准自然实验,以改革前是否遭受税费不公平程度作为依据将样本分为试验组和对照组,构建双DDD模型,检验税费不公平程度降低对企业升级的影响。研究发现,税费征管改革带来的税费不公平程度降低对企业升级具有显著的促进作用。更进一步地,相对于没有遭受税费不公平待遇的企业,遭受税费不公平待遇的企业在金税三期这类降低征管信息不对称的税费征管系统改革后,企业升级效率增加了13%左右;相对于没有遭受税费不公平待遇的企业,遭受税费不公平待遇的企业在社保费转为由税务部门征收这类降低企业信息不对称的税费征管机构改革后,企业升级效率增加超过了18.7%。税费不公平程度降低促进企业升级,主要是通过要素市场资源错配程度降低、融资约束程度降低、人力投入增加、企业运转效率加快、虚拟金融资产比重减少等作用机制实现。具有较强盈利能力的企业、相对较年轻的企业、相对规模较大的企业、处于优质市场环境中的企业、处于分割市场环境的企业,在税费不公平程度降低后企业升级效率相对较高;处于财政透明度相对较弱地区的企业,税费征管改革带来的税费不公平程度降低效应越明显。其次,纵向税费不确定与企业升级。升级程度越高的企业本身所具有的生产关系就越复杂,频繁政策调整会因为生产关系的复杂而叠加放大,升级程度高的企业会面临更大的税费制度不确定风险,换句话说,税费不确定不利于企业升级。本文构建了税费不确定对企业升级的影响模型,以匹配上市公司财务数据、海关数据以及市场化指数、财政透明度指数等构建实证数据库,以2000～2019年的上市公司作为研究对象对模型实证检验。实证研究发现,税费不确定对企业升级产生了显著的负向影响,所得税不确定带来的影响要大于总体税费不确定带来的影响。更具体一点,取企业近三年的所得税率标准差作为不确定度量指标,标准差每增加1个单位会造成企业升级效率降低5.3个单位;取企业近三年的总体税费率标准差作为不确定度量指标,标准差每增加1个单位会造成企业升级效率降低1.5个单位。融资约束加剧、人力资源投入减少、管理投入被挤占、金融资产比重增加、要素市场资源错配加重是税费不确定抑制企业升级的中介路径。好的市场化整体环境、政府与市场关系、非国有企业发展、产品市场发育、要素市场发育、中介组织和法律制度会起到“稳定器”作用,降低税费不确定的不利影响;在分割市场合并的大趋势下,税费不确定的不利影响也会跟随扩散,这种情况下降低税费不确定的不利影响迫在眉睫。最后,供应链上的税费制度传导效应与企业升级。供应链上游企业的各类税费变化,会增加其通过改变供应商品的价格以进行税费转嫁的动机;同时,税费加重会直接增加上游企业的经营风险,这种风险也会影响供应链的稳定性,从而对下游企业产生影响。也就是说,上游企业的各类税费会通过供应链传导到下游企业,从而对下游企业升级产生抑制作用。本文构建了上游企业税费通过供应链传导影响下游企业升级的理论模型,将上游上市供应商税费负担数据、采购占比数据与下游供应商数据匹配构建了实证数据库。实证研究发现,供应链上游企业税费增加对下游企业升级产生了显著的抑制效应,在不考虑采购占比的情况下,上游企业所得税税率每增加1个单位会造成下游企业升级效率6.6%的损失,上游企业增值税税率每增加1个单位会造成下游企业升级效率2.5%的损失,上游企业总体税费负担每增加1个单位会造成下游企业升级1.3%的损失。下游企业的运营成本负担加重、融资约束加剧、资本周转减缓、发明创造受到抑制、要素错配加重是上游企业税费对下游企业升级产生不利影响的中介渠道。市场化进程总得分、政府与市场关系得分、非国有经济发展得分、要素市场发育得分、市场中介组织发育和法律制度环境得分越高的地区,上游企业税费对下游企业升级的抑制效应越小;市场分割程度越高,上游企业税费对下游企业升级的抑制作用就越强;财政透明度指数越高,上游企业税费对下游企业升级的抑制作用越小。相较于以往文献,本文主要在以下几个方面做了拓展,具有若干创新:第一,尝试跳出局部从整体视角研究税费制度。当前实务界和学术界对于税费问题的研究可谓是“卷帙浩繁”,但多数文章是从某条政策或者某个局部角度出发研究税费问题;实务界则是在现有税费体制框架下进行政策修补,较少从整体视角考虑税费制度存在的问题,碎片化的改革反而会在一定程度上增加问题的复杂性。本文跳出针对某政策、某条款的局部性视角,从税费制度改革的整体视角出发研究税费问题对企业升级的影响。第二,开辟了税费影响研究的供应链传导视角。本文跳出税费对被征管企业影响的孤立研究视角,从供应链传导的角度研究上游企业税费对下游企业升级的影响,更加准确地估计制度外部性,这拓展了税费制度的后果研究文献。第三,拓展了税费不确定理论。国内关于税费不确定的研究多集中于宏观层面,少有文献从企业升级视角展开研究。本文从微观层面出发,选取了更为客观的税费不确定度量指标,在企业角度观察税费不确定对企业升级的影响。第四,尝试用两个DDD模型互相验证的方式进行模型设计检验。在实证研究部分,本文尝试使用了两个政策冲击进行三重差分实证检验,两个DDD互相验证、各有侧重,既验证了冲击的稳健,又从不同角度报告了税费征管系统改革、税费征管机构改革对企业升级的区别影响,报告了侧重税的不公平程度降低和侧重费的不公平程度降低对企业升级的影响效应异同。第五,一定程度上补充了企业升级内涵文献。关于企业升级的概念和界定,学术界存在着概念定义模糊的问题,对企业升级的研究碎片化地散落于创新、资本密集度、全球价值链指数等维度。本文查阅国内外理论文献,总结不同研究共性,基于企业升级的核心能力理论和全球价值理论,以“一切有利于企业效率提升和附加值提高的改进”这一企业升级本质,拓展性地构建企业升级指标体系,丰富了企业升级的研究文献,同时为经济高质量发展的微观基础构建提供理论参考。在以上研究结论的基础上,本文提出了若干政策建议:第一,加强税费制度改革的顶层设计,避免政策频繁调整带来的企业升级负面影响。在“摸着石头过河”的转型发展期政策调整无可避免,加强税费顶层设计,对于降低税费制度频繁调整造成的企业升级效率损失具有重要意义。第二,税费制度改革应注重“效率”与“公平”均衡,避免因过度追求“效率”引起市场失衡,从而降低企业升级效率。第三,税费制度设计应从孤立视角转为系统视角。在当前市场交互日益增强的情况下,税费制度通过供应链传导的扩散效应越来越强,相应地,税费制度也应将其影响的外部性纳入后果评估框架,从税费制度设计的孤立视角转变为系统视角。第四,降低税费制度落地中的信息不对称。税费制度落地中的信息不对称会为执法人员寻租、企业偷漏税费等行为提供空间,使得税费制度落地过程中被严重扭曲、效率大打折扣,推动电子政务建设、提升财政透明度等对保证税费制度切实落地具有重要意义。第五,加强营商环境等非正式制度建设。在税费体制和政策这种正式财税制度尚不完善的情况下,加强营商环境等非正式制度建设,通过非正式制度弥补正式制度在企业升级促进方面的不足具有重要意义。更多还原

【Abstract】 After more than 40 years of rapid development of reform and opening up,the crude growth model is no longer sustainable,and China’s economy has entered the“new normal” stage,with its annual double-digit growth reduced to lower marginal growth,so it is urgent to promote the upgrading of enterprises and the overall highquality development of the economy.Taxation system is a series of rules including taxation regime,taxation regulations,taxation administration and taxation allocation formulated by the sovereign state in order to realize the state functions and regulate the economy.As an important grip of macroeconomic regulation,its role is more prominent in the critical transition period.However,under the reform idea of “crossing the river by feeling the stones”,the taxation system of China has been in a state of fragmented repair and improvement for a long time.Although this non-integral way of taxation system reform has achieved certain results,it cannot fundamentally rationalize the contradiction between production relations(taxation system)and productivity(enterprise upgrading),and sometimes even making the taxation problems more and more complicated.As the most important production relation,the taxation system should be adapted to the continuous development of productivity,but the current taxation system has formed three major contradictions with economic development:the contradiction between the imbalance of economic structure,which is brought by the imbalance between “efficiency” and “fairness” of taxation,and the original purpose of the taxation system to promote economic development and upgrading;the contradiction between the original intention of frequent adjustment of taxation policies to promote development and the need for a stable institutional environment for enterprise upgrading;the contradiction between the increasingly strong conduction effect of the taxation system caused by the increasingly close connection between the segmented markets and the ignorance of the conduction effect of the consequences brought by the current taxation system construction.These three contradictions are the core keys of the taxation system reform.Fiscal science attempts to find the equilibrium point between “fairness” and“efficiency” from the perspective of the reform in the collection and management of taxes.Neo-institutional economics attempts to find solutions to reduce the adverse effects of the instability of the taxation system from the perspective of complementing the formal system with informal systems.Economics tries to explore the feasible path to reduce the allocation distortion of factors in the free market caused by taxation from the perspective of resource allocation.Legal scholars try to find a feasible development path of taxation equity from the perspective of “legislation” and “law enforcement”.Based on these,this paper sorts out the historical development,the reform measures and the implementation effects of China’s taxation system,the macro background and the significance of enterprise upgrading,and the taxation system supporting the development stage.It also summarizes,compares and analyzes the mainstream literature on taxation system reform,taxation functioning mechanism,and enterprise upgrading,defines the fundamental concepts,and discovers the conflicting points,theoretical imperfections and insufficient support for practice in the current literature.On this basis,this paper systematically summarizes three main lines of research on taxation system reform-the inequity perspective of taxation system reform in the regional horizontal dimension,the policy stability perspective of taxation system reform in the time vertical dimension,and the supply chain conduction perspective of taxation system in the supply chain conduction dimension.With emphasis on both theoretical analysis and empirical research,the study is conducted in accordance with the logical chain of “problem formulation-theoretical analysis-empirical analysis-research conclusion”,and identifies the paths through which the taxation system reform affects enterprise upgrading.The study mainly focuses on the following three aspects.First,the paper studies taxation inequity and enterprise upgrading in the horizontal dimension.The higher the degree of taxation inequity enterprises face,the more significant lowering of taxation inequity can be brought by information symmetrization,so the product of whether enterprises suffered from taxation inequity before the reform of the taxation institution can be used to indicate the reduction of taxation inequity in enterprises.Using listed companies between 2000 and 2019 as the sample and the Golden Tax III reform and the shift of social security fee collection from the human resources department to the tax department as quasi-natural experiments,this paper constructs a double difference-in-difference-in-differences(DDD)model by dividing the sample into experimental and control groups based on the degree of taxation inequity enterprises suffer before the reform to examine the impact of the reduction in the degree of taxation inequity on enterprise upgrading.It is found that the reduction in taxation inequity brought by the reform in tax and fee collection has a significant contribution to enterprise upgrading.Further,relative to enterprises that did not suffer from taxation inequity,enterprises that suffered from taxation inequity increased their upgrading efficiency by about 13% more after the reform of tax and fee collection system(such as the Golden Tax III)that reduces information asymmetry in collection.Relative to enterprises that did not suffer from taxation inequity,enterprises that suffered from taxation inequity increased their upgrading efficiency by about 18.7%more after the reform of tax and fee collection agencies(such as the shift of social security fee collection from the human resources department to the tax department)that reduce enterprise information asymmetry.The reduction of taxation inequity promotes enterprise upgrading mainly through reducing resource mismatch in factor markets,reducing financing constraints,increasing human inputs,accelerating enterprise operation efficiency,and reducing virtual financial assets holdings.Enterprises with strong profitability,relatively young enterprises,relatively large enterprises,enterprises in high-quality market environment,and enterprises in segmented market environment are relatively more efficient in upgrading after the reduction of taxation inequity.Enterprises in areas with relatively weak fiscal transparency enjoy more obvious reduction in taxation inequity reduction from the tax and fee collection reform.Second,the paper studies taxation uncertainty and enterprise upgrading in the vertical dimension.The higher the degree of upgrading,the more complex the production relationship that the enterprise itself has,and frequent policy adjustments will be superimposed and amplified by the complexity of the production relationship,and enterprises with a high degree of upgrading will face greater risk of taxation system uncertainty;in other words,taxation uncertainty is not conducive to enterprise upgrading.Using listed companies from 2000 to 2019 as the sample,this paper constructs an empirical database by matching financial data of listed companies,customs data,as well as marketability index and fiscal transparency index to empirically tests the impact of taxation uncertainty on enterprise upgrading.The empirical study finds that taxation uncertainty has a significant negative impact on enterprise upgrading,and the impact from income tax uncertainty is greater than that from overall tax and fee uncertainty.More specifically,when the standard deviation of income taxes in the past three years is used as the volatility indicator,each unit increase in the standard deviation will cause a 5.3 units decrease in the efficiency of enterprise upgrading;when the standard deviation of overall tax and fee in the past three years is used as the uncertainty indicator,each unit increase in the standard deviation will cause a 1.5 units decrease in the efficiency of enterprise upgrading.Increased financing constraints,reduced human resource inputs,crowded out management inputs,increased share of financial assets,and aggravated resource mismatch in factor markets are the mediating paths through which taxation uncertainty inhibits enterprise upgrading.A good overall market-oriented environment,government-market relationship,development of non-state enterprises,product market development,factor market development,intermediary organizations and legal system play the role of“stabilizer” and reduce the negative impact of taxation uncertainty.Under the general trend of segmented market consolidation,the negative impact of taxation uncertainty will also follow the spread,in which case it is urgent to reduce the negative impact of taxation uncertainty.Finally,the paper studies the conduction effect of taxation transmission in the supply chain and enterprise upgrading.The change of various taxes and fees of upstream enterprises in the supply chain will increase their incentive to pass on the tax by changing the price of supplied goods;at the same time,the increase of tax will directly increase the business risk of upstream enterprises,and this risk will also affect the stability of the supply chain,which will have an impact on downstream enterprises.In other words,the taxes of upstream enterprises will be transmitted to downstream enterprises through the supply chain,thus inhibiting the upgrading of downstream enterprises.This paper constructs a theoretical model that upstream enterprises’ taxes affect the upgrading of downstream enterprises through supply chain transmission,and matches the tax data of upstream listed suppliers,procurement share data and downstream enterprises data to build an empirical database.The empirical study finds that the increase in the taxes of upstream enterprises in the supply chain has a significant inhibitory effect on the upgrading of downstream enterprises.Without the consideration of procurement share,each unit increase in income tax rate of upstream enterprises causes a 6.6% loss in the upgrading efficiency of downstream enterprises,each unit increase in VAT rate of upstream enterprises causes a 2.5% loss in the upgrading efficiency of downstream enterprises,and each unit increase in overall tax and fee burden of upstream enterprises causes a 1.3% loss in the upgrading efficiency of downstream enterprises.The increased burden of operating costs,increased financing constraints,slower capital turnover,inhibited invention and creation,and increased factor mismatch of downstream enterprises are the mechanisms through which the taxes of upstream enterprises adversely affect the upgrading of downstream enterprises.The higher the total marketization process score,government-market relationship score,non-state economic development score,factor market development score,market intermediary development score and legal system environment score,the smaller the inhibitory effect of upstream enterprises’ taxes on the upgrading of downstream enterprises;the higher the degree of market segmentation,the stronger the inhibitory effect of upstream enterprises’ taxes on the upgrading of downstream enterprises;the higher the fiscal transparency index,the weaker the inhibitory effect of upstream enterprises’ taxes on downstream enterprises’ upgrading.Compared with previous literature,this paper contributes and innovates in the following aspects.First,it tries to study the taxation system from an integral perspective beyond the partial perspective.The current research on taxation issues in the practical and academic fields can be described as “voluminous”,but most articles study taxation issues from a certain policy or a certain perspective;the practical field is making policy fixes under the framework of the existing taxation system,but seldom considers the problems of the tax system from a holistic perspective.The fragmented reform may increase the complexity of the problem to a certain extent.This paper goes beyond the divisional perspective of a certain policy or a certain provision and studies the impact of taxation issues on enterprise upgrading from the overall perspective of taxation system reform.Second,it opens up a supply chain conduction perspective of the research on taxation impact.This paper goes beyond the isolated research perspective of the impact of taxes and fees on regulated enterprises and studies the impact of upstream enterprises’ taxes and fees on downstream enterprises’ upgrading from the perspective of supply chain conduction to estimate the system externalities more accurately,which expands the research literature on the consequences of the taxation system.Third,it expands the theory of taxation uncertainty.Most domestic studies on taxation uncertainty focus on the macro level,and few studies explore from the perspective of enterprise upgrading.This paper selects a more objective measure of taxation uncertainty from the micro level and observes the impact of taxation uncertainty on enterprise upgrading from the perspective of micro-enterprises.Fourth,this paper tries to test the arguments by using two DDD models to verify each other.In the empirical research part,this paper tries to use two policy shocks for DDD testing,and the two DDD models validate each other with their own focus,which not only verifies the robustness of the findings,but also reports the different effects of tax and fee collection system reform and tax and fee collection agency reform on enterprise upgrading from different perspectives,and reports the similarities and differences in the effects of tax-focused inequity reduction and fee-focused inequity reduction on enterprise upgrading.Fifth,to a certain extent,this paper complements the literature on the connotation of enterprise upgrading.There is a problem of ambiguous definition regarding the concept and definition of enterprise upgrading in academia,and the research on enterprise upgrading is fragmented into dimensions such as innovation,capital intensity and global value chain index.This paper reviews the existing theoretical literature,summarizes the commonalities of different studies,and constructs an extended enterprise upgrading index system based on the essence of enterprise upgrading: “all improvements that are conducive to enterprise efficiency and valueadded increase”,which enriches the research literature on enterprise upgrading and provides a theoretical reference for the construction of micro-foundations for highquality economic development.Based on the above findings,this paper puts forward several policy recommendations.First,the top-level design of the taxation system reform should be strengthened to avoid the negative impact of enterprise upgrading caused by excessive policy adjustments.Policy adjustments are inevitable during the transition and development period of “crossing the river by touching the stones”,so it is important to strengthen the top-level design of the taxation system to reduce the loss of efficiency of enterprise upgrading caused by frequent adjustments of the taxation system.Second,the reform of the taxation system should focus on the balance of“efficiency” and “fairness” to avoid market imbalance caused by excessive pursuit of“efficiency” which may reduce the efficiency of enterprise upgrading.Third,the design of the taxation system should be switched from an isolated perspective to a systematic perspective.Under the current situation of increasing market interaction,the conduction effect of the taxation system through the supply chain is getting stronger and stronger,accordingly,the design of the taxation system should also incorporate the externality of its impact into the consequence assessment framework,and switch from isolated perspectives to a systematic perspective.Fourth,the information asymmetry in the enforcement of the taxation system should be reduced.The information asymmetry in the implementation of the taxation system provides space for rent-seeking by the executive staff and tax avoidance by enterprises,which makes the enforcement of the taxation system seriously distorted and its efficiency greatly compromised.Promoting the construction of e-government and enhancing fiscal transparency are of important value to ensure the practical enforcement of the taxation system.Fifth,the construction of the informal systems such as the business environment should be strengthened.In the case that the formal system such as the taxation system is not yet perfect,it is important to strengthen the informal systems such as the business environment to make up for the shortage of the formal system in the promotion of enterprise upgrading through the informal system.更多还原