Налоговое стимулирование производства и использования электрических автомобилей в Китае тема диссертации и автореферата по ВАК РФ 00.00.00, кандидат наук Ма Цзюнь

• Ма Цзюнь
• кандидат наук
• 2023

Оглавление диссертации кандидат наук Ма Цзюнь

Table of Contents

Abstract

Chapter 1. The theoretical framework of tax incentives

1.1 Tax incentives originate from the relationship between the government and the market

1.2 Classification and scope of application of tax incentive policies

1.3 Operation Mechanism of Tax Incentive Policy

Chapter 2. Methodological aspects of tax incentives for the development of the electric vehicle industry in China

2.1 Methodological aspects of tax incentives for the development of the electric vehicle industry

2.2 Development status of electric vehicles in China

2.3 Assessing the effectiveness of tax incentives for the electric vehicle industry

2.4 Analysing the current situation of China's taxation policy combining foreign

experience

Chapter 3. Evaluation of the effects of tax incentives on the development of the electric vehicle industry in China

3.1 Research hypotheses for empirical analysis of electric vehicles

3.2 Empirical analysis of tax incentives on China's electric vehicle industry

3.3 Research on optimizing the electric vehicle tax incentive policy

Conclusion

Bibliography

List of abbreviations

Appendix A

Appendix B

Appendix C

Appendix D

Appendix E

Appendix F

Appendix G

Appendix H

Appendix

Введение диссертации (часть автореферата) на тему «Налоговое стимулирование производства и использования электрических автомобилей в Китае»

Abstract

The relevance of research theme. The policy of tax incentives is based on the relationship between the state and the market, having a positive impact on the development of macroeconomics. It can promote economic development by adjusting investment and consumption, but the ability of the country to bear the fiscal deficit must also be considered. Tax incentive policies have a positive effect on economic development, which can stimulate the flow of social resources to enterprise R&D in the form of leverage, stimulate more research investment, and thus promote economic growth or obtain more output.

The impact of taxation on economic growth and industrial development is ultimately realized through incentive policies for micro-market entities such as tax incentives, and is positively correlated with enterprise development. In other words, within an appropriate range, if the tax incentive policy is strong, the development of enterprises will be better and better with its help. It is a common practice in various countries for the government to give tax incentives to enterprises to promote their development, and it is effective in most cases. In terms of enterprise output, tax incentive policies will promote the improvement of enterprise production level.

In China, the rational use of such policies by the government not only helps to stimulate the economic behavior of market participants and achieve the goal of national macro-control in the production of electric vehicles, but also contributes to the implementation of the optimal allocation of resources in this area.

China is facing a severe energy crisis and environmental problems. With the development of science and the improvement of people's quality of life, cars have gradually become an indispensable means of transportation for people to increase their mobility in work and travel. In 2021, automobile production and sales have reached 26.082 million and 26.275 million, a year-on-year increase of 3.4% and 3.8%. As of the end of 2021, China's car ownership has reached 302 million, of which 79 cities

have more than 1 million vehicles. However, with the constant increase in car sales, non-renewable energy supplies are becoming increasingly scarce and environmental problems are becoming more serious. According to the "2020 Domestic and Foreign Oil and Gas Industry Development Report", in 2020, China's oil and natural gas import dependence has risen to 73% and 43%, and it is imminent to alleviate the energy crisis. The "China Mobile Source Environmental Management Annual Report (2021)" shows that in 2020, the total emission of four pollutants from motor vehicles in the country is 15.93 million tons. Among them, the emissions of carbon monoxide (CO), hydrocarbons (HC), nitrogen oxides (NOx), and particulate matter (PM) were 7.697 million tons, 1.902 million tons, 6.263 million tons, and 68,000 tons. Vehicles are a major contributor to total pollutant emissions, with more than 90% of CO, HC, NOx and PM emitted. It is urgent to solve environmental problems.

In order to reduce energy consumption and carbon emissions, China is vigorously developing low-carbon transport. At the same time, the accelerated promotion of the processes of production and consumption of electric vehicle is a key point. This is also a breakthrough in the reform of transportation in various countries in the world in recent years. The development of the electric vehicle is conducive to promoting the realization of carbon peak and carbon neutrality goals, ensuring energy security, and promoting the development of renewable resources. The development of the electric vehicle can also promote the optimization and upgrading of the automobile industry and narrow the gap with developed countries in the automobile industry. According to statistics from the Ministry of Industry and Information Technology, in 2021, the production and sales of the electric vehicle were 3.545 million and 3.521 million, an average increase of 1.6 times over the previous year. The development of the electric vehicle industry is inseparable from the strong support of the government. According to the plan, the next five years will be a period of accelerated development of the electric vehicle in China. The level of automobile technology will continue to improve and the industrial structure will continue to improve.

China has entered the period of rapid development of the electric vehicle, and is facing many practical problems. The government has taken many measures to actively

deal with them. In order to support its development, the government has promulgated a number of policies to support it. In terms of taxation, it enjoys consumption tax, income tax, vehicle purchase tax, vehicle and vessel tax and other tax incentive policies during the R&D, production, purchase and holding stages.

The production of electric vehicles, as a growing industry, needs government support. The policy of tax incentives plays an important role in this. The tax incentive policy is designed to reduce the tax burden on manufacturers, increase disposable cash flow and promote the development of an enterprise for the production of electric vehicle. In order to accelerate the transformation and upgrading of China's auto industry and promote the faster development of production and consumption of electric vehicles, it is very important to explore tax incentive policies to help promote these processes.

Research questions: how to take full advantage of the tax incentive policy, how to maximize the impact of this policy on the results of the production and consumption of electric vehicles, deserve in-depth study. In this context, the dissertation conducts an empirical analysis of the impact of tax incentive policies on the efficiency of the production and consumption of electric vehicles. And with the help of simulation experiments, proposals are made to improve these processes. How best to use the tax incentive policy to promote the progress of the electric vehicle industry so that it can play its full role in the environment and energy is a hot topic in China.

The degree of scientific development of the problem

Regarding the relationship between taxation and market, different schools of thought give different opinions. The liberal school of economics (B. Bartlett, A. Bergstraesser, J. Buchanan, J. Commons, P. DuPont, C. Gide, H. Maier, A. Marshall, C. Menger, J. Mill, R. Mundell, F. Quesnay, J. Say, A. Smith, D. Ricardo, T. Veblen) and The Economic School of State Intervention (A. Blinder, J. Colbert, J. Crotty, A. Hansen, S. Keen, A. Kitov, J. Keynes, K. Marx, G. Myrdal, B. Ohlin, E. Phelps, P. Samuelson, J. Tyler, R. Walpole).

At present, with the development and improvement of the economic theory system, there are more literatures on the research on fiscal and taxation incentive

policies. Although there are still many controversies in theoretical research, in practice, countries around the world generally implement government macro-control, including the use of fiscal subsidies, tax incentives and other policies to achieve economic and social development goals.

The monograph by D. Alfred, D. Anderson, W. Baumol, M. Brower, L. Brown, Jr. Chandler, B. Charles, H. Frank, Jeffrey, A. Kenneth, D. Landes, W. Leon, D.H. Meadows, D.L. Meadows, A. O'Sullivan, A. Pigou, H. Robert, S. Sheffrin, C. Spash, N. Stern,G. Tullock, considers the theoretical underpinnings of the impact of taxes on industries.

Scientists S. Adnan, R. Bansal, K. Boulouchos, F. Cao, B. Christian, C. Costa, A. Yu. Domnikov, L. Dossetto, D. Flórez-Orrego, S. Georgina, S. Gunnar, A. Gupta, S. Harichandan, A. Jillian, A. Kenneth, U. Khan, S. Kumar Kar, F. Lasse, Yu. V. Leontyeva, Z. Liu, I. A. Mayburov, T. Martino, B. McMullen, J. Meek, J. Montag, J. Mukherjee, J. Nahm, K. Nakahara, F. Noembrini, R. Norgaard, N. Onat, N.V. Pokrovskaya, H. Sato, O. Silvio, F. Sóllner, Y. Song, T. Tietenberg, X. Tian, M.A. Trojan, S. Vegard, E. Verhoef, Y. Xiong, T. Yamamoto, S. Yan, X. Yin, H. Wang, L. Wang, M. Yazdanie, L. Zhang, confirmed that the tax incentive policy has a positive effect on the development of enterprises.

J. Amaya, V. Cantillo-García, V. Cantillo, Z. Dai, M. Deveci, F. Ecer, W. El Hachem, M. Fosgerau, J. Galván, P. De Giovanni, B. Gu, J. Guo, J. Harju, J. Jiang, A. Junior, T. Kosonen, M. Laukkanen, J. Lee, Y. Li, H. Liu, S. Mabit, S. Moon, H. Nakanishi, K. Palanne, D. Pamucar, F. Perobelli, A. Proque, M. Rodgers, I. Serrano, F. Taghizadeh-Hesary, R. Tanton, J. Tan, X. Tan, J. Tang, Y. Vidyattama, D. Wang, J. Xiao, Y. Zeng, X. Zhou, argue for the impact of fiscal incentives on firms' innovation activities through empirical analysis and policy effectiveness analysis. Most of them can explain that the government's practice of transferring tax benefits can leverage social resources to flow to the R&D field of enterprises, incentivize enterprises to invest more in R&D, and thus promote economic growth or obtain more innovation output.

Studies of the economic aspects of the production and use of vehicles, including

electric vehicles, were carried out by E.R. Magaril, I S. Belik, I.A. Mayburov, Yu.V. Leontyeva, A.P. Kireenko, E.A. Lavrentieva.

An analysis of existing studies has shown that a number of such areas are actively supported, such as the impact of tax incentives and financial subsidies, the cost of state support policies. Foreign research aspects are relatively new and diverse, due to the specifics of the tax system and tax incentives in each country. Anecdotal studies have examined the impact of tax incentive policies on the electric vehicle industry, but all of these studies are conducted from the point of view of tax deductions.

At the same time, there is a small number of works on the impact of tax incentives on profitability and investment in R&D in the corporate sector. We also find few studies that differentiate the impact of different types of tax incentives. In an attempt to fill this niche, the author conducts a study of the impact of tax incentive policies through the use of corporate income tax and VAT exemptions for the electric vehicle industry, and also substantiates proposals for improving incentives through modelling.

In existing studies, we do not note scientific papers that offer reasonable decisions on tax incentives in the field of production and consumption of electric vehicles. The relevance and gaps in research in this area predetermine the purpose and objectives of the dissertation research.

The purpose of this dissertation is to assess the impact of the tax incentive policy to produce passenger electric vehicles in China on the profitability and implementation of R&D, as well as to model a tax incentive mechanism that does not reduce the Vol. of tax revenues to the country's budget from the growing consumption of such vehicles.

Research objectives.

- To study the theoretical foundations of tax incentives for technologically complex and innovative processes, classify tax incentives and substantiate the basic principles of tax incentives.

- Analyze and justify the specifics of China's tax policy in the field of stimulating electric vehicles.

- Develop a methodical approach to evaluating the effectiveness of tax incentives through their impact on the profitability of the production of electric vehicles and the Vol. of investment in R&D.

-Develop a simulation model for the system dynamics of electric vehicles tax incentives in China.

The object of the study is the mechanisms of the impact of tax incentives on the financial performance of listed companies producing passenger electric vehicles in China.

The subject of the study is the relationship between the state, manufacturers and consumers of electric vehicles in the process of implementing China's policy of tax incentives for the production and consumption of such vehicles.

The temporal and geographical scope (period) of the thesis research. The study uses statistics from the annual financial reports of electric vehicle companies, and tax statistics from the electric vehicle industry. The research period is 2012-2021 (inclusive). The territories studied include China and the member countries of the Organization for Economic Co-operation and Development.

The theoretical and methodological basis of the research. Scientific research uses scientific knowledge methods such as literature analysis, inductive analysis, analysis and synthesis, classification and modelling, comparative analysis, regression analysis, content analysis, simulation analysis, theoretical analysis and empirical analysis to solve research tasks.

Data processing applications were performed using MS Excel 2021 spreadsheet processor along with MS Excel "Data Analysis" and "Search Solutions" software packages, Statal6 and Vensim PLE 5.6a software products.

Research hypothesis:

-Tax incentives can increase the profitability of the electric vehicle companies.

- Tax incentives can increase the R&D investment intensity of the electric vehicle companies.

Information and empirical base of dissertation research. The information and experience base of the dissertation research is formed on the basis of the public

financial annual reports of Chinese listed companies. From Wind database statistics (https://www.thewindpoNver.net/index.php) Oriental Fortune Network (https://data.eastmoney.com/).

The data on environment and energy mainly come from OECD statistics (https://stats.oecd.org/), International Renewable Energy Agency (https://www.irena.org/), CSMAR database (https:/ /cn.gtadata.com/), EEA (https://www.eea.europa.eu/en), IEA (https://www.eea.europa.eu/enIEA:IEA:).

Statistics on electric vehicles mainly come from China Association of Automobile Workers (http://www.caam.org.cn/), Global Auto Industry Platform (https://www.marklines.com/cn/), China Passenger Automobile Association (http://data.cpcaauto.com/).

The tax-related data mainly come from the State Administration of Taxation (http://www.chinatax.gov.cn/) China Statistical Yearbook

(http://www.stats.gov.cn/sj/ndsj/) China Government Affairs Platform (https: //gjzwfw.www.gov.cn/), National Bureau of Statistics of China (www.stats.gov.cn). As well as information from analytical journals, results of Chinese and foreign scientific research on the topic under consideration.

The field of study corresponds to the passport of the scientific specialty 5.2.4. Finance: p. 8 "Behavioral finance" and p. 13 "Taxes and taxation. Tax policy. Tax administration. Ensuring Fiscal Sustainability".

Validity and reliability of scientific results, research and use of scientific works by Chinese and foreign scientists on the research issues, research on tax incentives in China, analysis of methodological materials, use of statistical methods to obtain reliable data, and verify the hypotheses proposed, prove the conclusions of the research through calculations, and discuss the results of the research at scientific meetings.

The scientific novelty of the dissertation research consists in developing an original classification of tax incentives and substantiating the basic principles of tax incentives, substantiating the specifics of China's discrete tax policy in the field of stimulating electric vehicles, developing a methodological approach to assessing the

effectiveness of tax incentives through their impact on the profitability of the production of electric vehicles and the Vol. of investment in R&D, development of a simulation model of the system dynamics of tax incentives for electric vehicles.

Provisions for defense:

1. The theoretical foundations of tax incentives have been developed through the original classification of tax incentives and the substantiation of the basic principles of tax incentives (fairness, efficiency, selectivity), the practical application of which allows projecting the economic and social effects of tax incentives in relation to a specific incentive object (the industry of electric vehicle).

2. The specificity of China's discrete tax policy in the field of stimulating electric vehicles is substantiated, which differs from similar European policies in the differentiated application of various tax incentives at different stages of the vehicle life cycle (production, sale, ownership) and the extension of such a policy to all related to this policy, a production area, the long-term use of which ensures the accelerated growth of innovations and investments in R&D in this area. The effectiveness of China's discrete tax policy in this area is confirmed by the growth in the production of electric vehicles, including all production components, significantly outpacing growth in European and other countries.

3. A methodical approach is proposed to assess the effectiveness of tax incentives through their impact on the profitability of the production of electric vehicles and the Vol. of investment in R&D, the development of which is based on the use of VAT and income tax benefits as the main variables, control variables - indicators scale of the enterprise and asset turnover, and as explanatory variables - profitability and investment in R&D. Approbation of this methodological approach at the listed enterprises of the automotive industry in China makes it possible to conduct a regular targeted assessment of the effectiveness of tax incentives provided to these enterprises, and to make an appropriate correction of the tax incentive policy.

4. A simulation model of the system dynamics of tax incentives for electric vehicle has been developed, a distinctive feature of which is the use of a wide range of influence of tax incentives on production parameters and the availability of these funds

for the consumer. The practical significance of this model lies in the possibility of substantiating the target parameters for optimizing the tax incentive policy, which will not lead to a decrease in tax revenues to the country's budget due to the growing consumption of electric vehicles.

The theoretical significance of the study lies in the development of the theoretical foundations of tax incentives, in the development of the existing direction of behavioral finance, in the creation of theoretical prerequisites for substantiating the targeting and effectiveness of tax incentive tools.

The practical significance of the study lies in the development of methodological provisions and target parameters for optimizing the tax incentive policy, which can be used to correct and improve the effectiveness of the tax incentive policy for the electric vehicle industry.

Recognition of the research findings of the dissertation. The main results of the dissertation research were presented, discussed and positively evaluated at the following conferences: The 36th International Business Information Management Association Conference: Sustainable Economic Development and Advancing Education Excellence in the era of Global Pandemic. (November 2020 Granada, Spain); The 37th International Business Information Management Association Conference:

Innovation Management and information Technology impact on Global Economy in the Era of Pandemic. (May 2021, Cordoba, Spain); The 3rd International Conference on Advances in Civil and Ecological Engineering Research 2021 (July 2021, Beijing, China); The 7th International Conference on Water Resource and Environment (WRE 2021) (November, 2021, Xi'an, China); The 3rd International Symposium (Virtual) of Earth, Energy, Environmental: Science and Sustainable Development (August 2022, Indonesia).

Publications on the topic of dissertation research. On the topic of the dissertation research, 8 scientific papers were published with a total Vol. of 5.21 pp, including 3 articles in leading peer-reviewed journals and publications recommended by the Higher Attestation Commission of the Russian Federation, including 5 articles in journals included in the Web of Science, Scopus database.

Author's personal contribution. The author has developed the theoretical foundations of tax incentives through the original classification of tax incentives and substantiation of the basic principles of tax incentives. The specificity of China's discrete tax policy in the field of stimulating electric vehicle is substantiated. A methodical approach has been developed to assess the effectiveness of tax incentives through their impact on the profitability of the production of electric vehicle and the Vol. of investment in R&D. A simulation model of the system dynamics of tax incentives for electric vehicle has been developed.

The Vol. and structure of the dissertation research. The work consists of abstract, three chapters, conclusion, list of references, list of abbreviations. The study is presented on 190 pages of typewritten text, including 43 tables, 28 figures, 8 formulas and 9 appendices. The list of used literature includes 187 titles.

Заключение диссертации по теме «Другие cпециальности», Ма Цзюнь

1. The tax incentive policy comes from the relationship between the government and the market, and has a positive effect on the development of the macro economy. It can promote economic development by adjusting investment and consumption, but the ability of the country to bear the fiscal deficit must also be considered. Tax incentive policies have a positive effect on economic development. Although there are differences in the empirical analysis results of enterprises in different countries, sizes, industries, etc.,

However, most of them can explain that the government tax incentive policy can stimulate the flow of social resources to enterprise R&D in the form of leverage, stimulate more research investment, and thus promote economic growth or obtain more output.

2. The impact of taxation on economic growth and industrial development is ultimately realized through incentive policies for micro-market entities such as tax incentives, and is positively correlated with enterprise development. In other words, within an appropriate range, if the tax incentive policy is strong, the development of enterprises will be better and better with its help. It is a common practice in various countries for the government to give tax incentives to enterprises to promote their development, and it is effective in most cases. In terms of enterprise output, tax incentive policies will promote the improvement of enterprise production level.

3. Judging from the sales data of the electric vehicle, not only the production and sales Vol. is showing a rapid increase, but also its proportion in the overall production and sales Vol. of automobiles is also increasing. Although the market share of the electric vehicle is still much lower than that of traditional fuel vehicles, its development speed is faster than that of traditional fuel vehicles. The government's incentives for its industry-and the continuous improvement of the development level of enterprises have greatly promoted the optimization of the automobile industry structure, which is expected to realize the complete withdrawal of traditional fuel vehicles from the market in advance.

4. After the implementation of the tax incentive policy, the production and sales of the electric vehicle in China have increased significantly. Enterprises are motivated to increase R&D investment, human capital investment, and increase production of new energy vehicles because tax incentives reduce their R&D and production costs. Consumers are more enthusiastic about the electric vehicle due to lower relative prices. Therefore, it can be seen that the tax incentive policy can increase the production and sales Vol. of the electric vehicle.

5. Tax incentives can bring abundant cash inflows to electric vehicle enterprises, helping them to continuously expand their assets and maintain a good momentum of development. By affecting the cash flow of the enterprise, it can fundamentally improve

the financial sustainable growth ability of the enterprise. It indirectly reduces the production cost of electric vehicle enterprises, increases profits through tax reduction and exemption, thereby affecting financial performance and improving the sustainable financial growth capabilities of enterprises. Tax incentives have a very clear positive impact on the solvency of electric vehicle enterprises. The incentive effect on its operating ability and profitability is not obvious. As far as the development capabilities of electric vehicle companies are concerned, the tax incentive policy will be more eifective when the company develops to a certain stage, and the incentives for the company will be more significant.

6. The impact of tax incentive policies on enterprises is very significant, and this impact will become more significant as enterprises increase investment in technology R&D. In the electric vehicle industry, with the support of tax incentive policies, the R&D input and output of enterprises continue to increase, which shows that tax incentives have a significant positive incentive effect on the innovation capabilities of electric vehicle enterprises.

7. From an international perspective, the design of preferential tax policies for R&D input in major countries usually has the characteristics of universal application, special preferential terms for small and medium-sized enterprises, diversified implementation methods, and more applicability to changes in the innovation environment. R&D innovation is a strong driving force for industrial development. As a capital-intensive and technology-intensive electric vehicle industry, technology is the core competitiveness to lead the market. Tax incentive policy is very important to the development of enterprise R&D.

8. Empirical research has proved that in terms of improving profitability, VAT and corporate income tax incentive policies have a positive incentive effect on the profitability of the electric vehicle industry, which shows that tax incentives are an effective policy tool to improve its profitability, and tax incentives should be further improved. Tax incentives are used as ex post incentives, and enterprises have great autonomy to choose.

9. Empirical research proves that in terms of encouraging enterprises to increase

R&D investment, VAT and corporate income tax incentive policies have a positive incentive effect on R&D investment in the electric vehicle industry', and government financial subsidies also have a positive incentive effect on it. They can encourage firms to increase R&D spending by reducing R&D costs and increasing expected returns. Consider the introduction of more effective incentive policies from multiple perspectives, and continue to promote the R&D of technologies related to electric vehicles. It can enhance the use value of electric vehicles, allow consumers to benefit from the use (or save costs), and gradually guide and encourage consumers to buy.

10. The tax incentive mechanism has dual attributes of incentives and constraints. The effect on the incentive objects is better than that of a single policy, the ability to expand the market is stronger, and the promotion of the industrialization of electric vehicles is greater. The simulation plan confirms that while increasing the tax incentives for the electric vehicle manufacturers, the corporate income tax rate for traditional fuel vehicles will be increased. It can promote the development of the electric vehicle, and at the same time solve the problem of financial sources, without causing a fiscal deficit to the country. After the implementation of the tax incentive mechanism, due to the increase in the price advantage of electric vehicles compared with traditional fuel vehicles, the new market affected by price factors can be greatly expanded. Conversely, various status indicators of the industrialization of electric vehicles have been significantly improved, and the incentive effect is obvious.

This dissertation proposes a tax incentive mechanism based on preferential tax rates, and establishes a system dynamics model for the industrialization of the electric vehicle. The model is simulated and analyzed based on the state indicators of market expansion degree, energy efficiency, environmental efficiency, industry dominance degree, and industry profit rate. After simulation analysis, the reference values of the preferential tax rate for electric vehicle manufacturing and the additional corporate income tax rate for traditional fuel vehicle manufacturing in different periods are obtained. The simulation results show that the incentive mechanism does not reduce the corporate income tax revenue of the state finance while expanding the electric vehicle consumer market.

Compared with the situation under the action of a single policy, all status indicators are improved, and the incentive effect is obvious. The research provides new ideas and methods for the design of tax incentive mechanism.

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