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Optimal unified enterprise tax in China: Based on computable general equilibrium (CGE) analysis
ZHANG Shun-ming, YE Zhi-qiang, LI Jiang-feng
Systems Engineering - Theory & Practice ›› 2013, Vol. 33 ›› Issue (4) : 840-852.
PDF(1155 KB)
PDF(1155 KB)
Optimal unified enterprise tax in China: Based on computable general equilibrium (CGE) analysis
The law on new enterprises tax has been established since January 1, 2008, and it rules unified tax rates for domestic and foreign enterprises in China, which is 25%. Is this specific unified enterprise tax optimal? Therefore, this paper builds a computable general equilibrium model and employs the 2007 national statistical data to try to answer this question and reports the optimal unified tax for manufacturing enterprises (state-owned enterprises, foreign investment enterprises and other private enterprises). Furthermore, this paper compares changes of social welfare, national income, fiscal revenues, and structural changes of employment, wage rates, capital input, capital returns, output and consumption demand, and so on, in the four economic sectors among three specific equilibria (benchmark equilibrium, 25% unified tax rate equilibrium, optimal unified tax rate equilibrium). Finally, this paper does the sensitivity analysis of the optimal unified tax rate for the actual investment foreign enterprise tax rate and the elasticity of substitution in CES utility function.
enterprise income tax / optimal unified tax rate / computable general equilibrium {{custom_keyword}} /
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