摘要
本文以上市公司为样本,就增值税转型对上市公司净利润及现金的影响进行了实证分析,结果发现,增值税转型对上市公司整体获利能力及现金流的影响相对较小,但对个别上市公司的影响较为明显,其主要原因来自两个方面,一方面,某些上市公司当年新增固定资产比例相对较高,且本身的获利能力较好;另一方面是对某些行业的过多投资而引起的。增值税转型对上市公司当年净利润的影响比现金的影响较大。
China began a new round of tax reform in 2004,VAT transition is one of focuses.In the paper,the author analyzed how VAT transition impact on NI and cash flow of listed companies,the results show that influence of VAT transition is little to general profitability and cash flow of listed companies,but few listed companies are impacted on both.There are two reasons,firstly,rapid growth in fixed asset and high profitability;secondly,over-investment on some industries.The influence of NI is much more than of cash flow on VAT transition.
出处
《经济管理》
CSSCI
北大核心
2005年第12期36-44,共9页
Business and Management Journal ( BMJ )
关键词
消费型增值税
增值税转型
税制改革
consumption-based value-added tax
VAT transition
tax reform
