京都大学 / 0048 / 新制・課程博士 / 博士(経済学) / 甲第21522号 / 経博第590号 / 新制||経||288(附属図書館) / 京都大学大学院経済学研究科経済学専攻 / (主査)教授 矢野 剛, 教授 塩地 洋, 教授 田中 彰, 教授 三重野 文晴 / 学位規則第4条第1項該当 / Doctor of Economics / Kyoto University / DGAM

This paper examines the effect of Business Tax to Value-Added Tax Reform (B2V Reform) of 2016 on the tax burden and research and development activities of High and New Technology Enterprises (HNTEs) in China. The initial hypothesis is that the B2V reform decreases tax burdens and encourages R&D activities of HNTEs. After analyzing the data from the Shanghai Stock Exchange High and New Technology Enterprise Index, however, it is found that the Reform does not significantly affect either the tax burdens or the R&D activities. Subsequent research reveals several explanations for the discrepancy, including firms’ labor-heavy capital structures for which labor costs do not qualify for value-added tax deductions as well as the issue of unused tax deductions from fixed asset purchases. This study informs policy makers how to revise and improve the reform to benefit high-tech companies with labor-intensive capital structures and others with significant upfront investment costs.