iii 摘要 融资租赁是集融资与融物于一体的新经济形态，它的发展加快了企业设备的 更新换代。国家对融资租赁行业的发展也是不断进行政策上的支持，从2012年， 国家税务总局就开始对融资租赁行业进行营业税改征增值税试点，而且在以后的 营改增深化改革中，也都涉及到了融资租赁行业。营改增完善了融资租赁行业的 抵扣链条，降低了整个行业的税负，促进了税制公平。但是从单个融资租赁企业 来看，营改增给企业的营业收入、营业成本、税负、税金及附加、现金流等财务 方面都带来了一定影响。 本文通过回顾“营改增”的必要性及其影响的相关文献，发现以前学者大多 都是研究“营改增”对建筑业、餐饮等行业的影响，鲜有学者研究“营改增”对 融资租赁行业的影响。随着融资租赁行业的发展，业务实践中不断暴露新的问题， 国家充分发挥税收的宏观调整作用，相继出台了一系列财税政策。本文梳理了“营 改增”相关政策变化，结合FL融资租赁公司业务案例和财务报表数据，从税负和 财务指标等财务角度，对其在执行“营改增”过程中存在的问题进行了原因分析， 并得出以下结论，第一，“营改增”促进了税制公平，完善了融资租赁整个行业的 抵扣链条；第二，“营改增”增加了融资租赁企业的税负，没有达到企业税负只降 不增的目的；第三，“营改增”后融资租赁企业的核算更加复杂；第四，“营改增” 提高了融资租赁企业的资产负债率；第五，“营改增”使融资租赁企业营业收入减 少，同时降低了其营业成本；第六，“营改增”使融资租赁企业“支付的各项税费” 现金流出增加。基于以上分析，提出以下建议：适当再降低增值税税率，进一步 完善增值税抵扣链条，加大即征即退力度、简化退税流程，调整业务结构、增加 财务管理水平等建议。 关键词： 营改增，融资租赁，财务影响 北京交通大学硕士专业学位论文 ABSTRACT iv ABSTRACT Financing leasing is a new economic form ，which integrates financing and financial products. It accelerates the renewal of enterprise equipment. Since 2012, the State Administration of Taxation has included the financial leasing of tangible movable property in the pilot scope of the reform of business tax to VAT, and in the further reform of business tax, the financial leasing industry has also been involved. Replacing business tax with VAT improves the deduction chain of the financial leasing industry, reduces the tax burden of the whole industry, and promotes the fairness of the tax system. However, from the point of view of a single financial leasing enterprise, the increase of business transformation has brought certain impact on business income, business cost, tax burden, tax and additional, cash flow and so on. This paper reviews the relevant literature on the necessity and impact of " replacing business tax with VAT " and finds that most scholars previously studied the impact of replacing business tax with value-added tax on construction, catering and other industries, while few scholars studied the impact of "replacing business tax with value-added tax" on financial leasing industry. With the development of financial leasing industry, new problems have been exposed in business practice. The state has full played the macro-adjustment role of taxation and issued a series of fiscal and tax policies. This paper sorts out the relevant policy changes of "replacing business tax with VAT", qualitatively analyses the impact of these two tax reform policies on the financial leasing industry, and intuitively analyses the problems and causes in the implementation of "replacing business tax with VAT" from the perspective of tax burden, financial indicators and other financial perspectives. The following conclusions are drawn. Firstly, "replacing business tax with value-added tax" promotes the taxation fairness, perfects the VAT deduction chain, avoids the financial leasing business double taxation; Secondly, "replacing business tax with value-added tax" increases the tax burden of financial leasing enterprises, but fails to achieve the purpose of reducing the tax burden of enterprises. Thirdly, the accounting of financial leasing enterprises after replacing business tax with value-added tax is more complicated. Fourthly, "replacing business tax with value-added tax" has raised the asset-liability ratio of financial leasing enterprises. Fifthly, "replacing business tax with value-added tax" reduces the operating income and operating cost of financial leasing enterprises. Sixthly, "replacing business tax with value-added tax" causes the cash outflow of "various taxes paid" by financial 北京交通大学硕士专业学位论文 ABSTRACT v leasing enterprises to increase. Based on the above analysis, the following Suggestions are put forward: appropriately reducing the VAT rate, further improving the VAT deduction chain, increasing the intensity of tax collection and refund, simplifying the tax refund process, adjusting the business structure, and increasing the level of financial management. KEYWORDS：Replacing Business Tax with VAT, Financial leasing, Financial Impact 北京交通大学硕士专业学位论文 目录 vi 目录 摘要 ................ III ABSTRACT ......... IV 1 引言 ............. 1 1.1 研究背景、目的及意义............ 1 1.1.1 研究背景 ........................... 1 1.1.2 研究目的 ........................... 1 1.1.3 研究意义 ........................... 2 1.2 文献综述 .... 2 1.2.1 “营改增”的必然性 ............ 2 1.2.2 “营改增”对企业税负的影响 ........................... 3 1.2.3 “营改增”对企业财务管理的影响 ................... 4 1.2.4 “营改增”对融资租赁业的影响 ....................... 5 1.2.6 文献评述 ........................... 6 1.2.7 本文研究的问题 ............... 6 1.3 理论基础 .... 6 1.3.1 流转税制理论 ................... 6 1.3.2 税收中性理论 ................... 7 1.3.3 税收宏观调控理论 ........... 7 1.3.4 融资租赁四大支柱学说理论 .......................... 8 1.4 研究方法与可能的创新点 ........ 8 1.4.1 研究方法 ........................... 8 1.4.2 本文可能的创新点 ........... 9 1.5 本文结构安排 ........................... 9 1.6 小结 .......... 10 2 融资租赁相关财税政策及其影响 ........................... 12 2.1 融资租赁“营改增”相关财税政策 ......................... 12 2.1.1 “营改增”后税率的变化及影响 ..................... 12 2.1.2 实际税负的规定及影响 . 13 2.1.3 售后回租业务的规定及影响 ........................ 13 北京交通大学硕士专业学位论文 目录 vii 2.1.4 售后回租业务销售额的重新规定 ................ 14 2.1.5 售后回租业务属性与税率的最新规定 ........ 14 2.1.6 深化税制改革，降低增值税税率 ................ 15 2.2 “营改增”对融资租赁行业的积极影响 ................. 15 2.2.1 推进税制的横向公平和产业升级 .................. 15 2.2.2 降低了整个行业税负，推动税制纵向公平 .. 16 2.2.3 完善了增值税抵扣链条，避免重复征税 ...... 16 2.3 小结 .......... 16 3 FL融资租赁公司介绍及行业发展状况 ................... 17 3.1 FL融资租赁公司概况 ............. 17 3.1.1 FL融资租赁公司简介 .... 17 3.1.2 FL融资租赁公司主要部门职责 .................... 17 3.1.3 FL融资租赁公司业务流程 ........................... 18 3.2 融资租赁行业发展状况.......... 20 3.2.1 企业数量与注册资金 ..... 20 3.2.2 业务规模 ......................... 22 3.3 小结 ..... 22 4 “营改增”对FL融资租赁公司的财务影响 ............... 23 4.1 对FL公司流转税及税负的影响 ........................... 23 4.1.1 对FL公司直租业务流转税的影响 ................. 23 4.1.2 对FL公司售后回租业务流转税的影响 ......... 25 4.1.3 对FL公司整体税负的影响 .............................27 4.2 对FL公司部分财务指标的影响 ........................... 28 4.2.1 对FL公司资产负债率的影响......................... 28 4.2.2 对FL公司净利率的影响 . 29 4.2.3 对FL公司现金流量的影响 ............................ 30 4.3 对FL公司财务核算的影响 .... 30 4.4 小结 ............ 30 5 “营改增”对FL融资租赁公司的影响分析及措施 .... 32 5.1 “营改增”对FL融资租赁公司的影响分析 .............. 32 5.1.1 “营改增”后FL公司税负增加的主要原因分析 .......................... 32 5.1.2 “营改增”对FL公司财务指标的影响分析 ...... 34 北京交通大学硕士专业学位论文 目录 viii 5.2 对FL融资租赁公司存在问题的相关建议安排 ..... 36 5.2.1 对FL公司税负增加的相关建议安排 ........... 36 5.2.2 对FL公司财务指标影响的相关建议安排 ... 38 5.3 小结 .......... 39 6 结论 ........... 41 6.1 总结 .......... 41 6.2 不足之处 .. 41 6.3