Tax Compliance and Investment Incentives: Firm Responses to Accelerated Depreciation in China
Tax Compliance and Investment Incentives: Firm Responses to Accelerated Depreciation in China
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DOI：
10.2139/ssrn.3374738
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发表时间：
2019-04
期刊：
影响因子：
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通讯作者：
Ziying Fan;Yu Liu
中科院分区：
文献类型：
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作者：
Ziying Fan;Yu Liu
摘要我们评估了2014年中国加速折旧政策对企业投资的影响。我们提出了三个发现。首先，平均而言，该政策增加了企业对合格资本的投资，特别是购买设备和机器。其次，对于规模较大的公司、拥有更多现金的公司和更容易获得融资的公司来说，政策效应更强，这些公司往往不太受财务约束，但有更好的税收遵从性。第三，县级税收征管的影响幅度随着县级税收征管力度的增加而增大，但随着省级逃税率的增加而减小。这些结果揭示了提高税收遵从性在使税收激励措施有效方面的重要性。
Abstract We evaluate the effects of a Chinese accelerated depreciation policy that occurred in 2014 on firm investment. We present three findings. First, on average, the policy increased firms’ investment in eligible capital, especially the purchase of equipment and machines. Second, the policy effects are stronger for larger firms, firms with more cash, and firms with better access to finance, which tend to be less financially constrained but have better tax compliance. Third, the effect magnitude increases with imputed county tax enforcement but decreases with provincial tax fraud rate. These results shed light on the importance of improving tax compliance in making tax incentives effective.