杜邦财务分析与物流企业营改增研究外文文献翻译.docx

1、杜邦财务分析与物流企业营改增研究外文文献翻译文献出处：Broom A. The research on DuPont financial analysis and VAT instead business tax of logistics enterprise J. International Journal of Economics and Finance, 2016, 1(2):91-103.原文The research on DuPont financial analysis and VAT instead business tax of logistics enterpriseBroo

2、m AAbstractLogistics as a comprehensive industry, belongs to a boom in the tertiary industry enterprises, referred to as the third profit source, is to expand domestic demand, employment, and adjustment of economic structure, promote industrial structure is an important driving force. However, the t

3、raditional business tax due to the unreasonable tax basis, and parallel all sorts of reasons, such as VAT tax double taxation contradiction is very prominent, to a certain extent, also affects the VAT tax neutral. At present, the study of “VAT instead business tax” becomes the focus of experts and s

4、cholars to discuss. Change but from camp pilot, logistics enterprises generally reflect the turnover tax increases after the battalion to increase, management benefit decline trend, it is inconsistent with the purpose of the structural tax cuts. Past study of VAT instead business tax stand in the pe

5、rspective of the whole logistics industry, mainly for a single enterprise is a detailed analysis of the relative lack of and insufficient. Based on this, this article takes the form of case analysis, chose a representative logistics enterprises camp to increase the influence of analysis and improvem

6、ent of DuPont financial analysis.Key words: VAT instead business tax; Logistics enterprises; DuPont analysis method1 IntroductionIn recent years, countries around the world to promote national economic and social development, accordingly adopted some tax cuts policy, but the effect is not significan

7、t, even in many developing countries appear the phenomenon of the rise of the macro tax burden. India as one of the biggest developing country, facing the same tax system structure and the level of economic development does not adapt. In order to promote the healthy development of the economy, in 20

8、05-2005, and India have adopted the cancellation of agricultural tax, the transformation of VAT type, the raising of the income tax exemption and tax change paid VAT (hereinafter referred to as the battalion to increase).In the process of economy running smoothly, this a series of tax reform played

9、an extremely important role. But due to the unreasonable tax basis, with VAT in parallel, the Indian business tax problems and contradiction is very prominent. Business tax of double taxation problems not only hinder the specialization of social division of labor, also destroyed the VAT deduction ch

10、ain and tax neutral, thereby causing loss to the efficiency. Logistics as a comprehensive industry, belongs to a boom in the tertiary industry enterprises, known as the third profit source, is our country to expand domestic demand, solving the employment, the backbone of the adjustment of economic s

11、tructure, promote industrial structure. Logistics is the collection of transportation, storage, information processing, circulation processing, distribution, consulting service is equal to one of the emerging interdisciplinary industry, is a basic and strategic industry, supporting the economic deve

12、lopment of the economy is more and more big, known by many economists as the accelerator of economic development. In todays Internet + logistics industry, logistics industry the economic impact of more and more big, has gradually become a pillar industry of the economy and the important growth point

13、. At the same time, the logistics industry to accelerate the industry consolidation, adjust the economic structure, promote the professional coordination and increase productivity and so on also is of great significance.2 The DuPont financial theory summaryDuPont Analysis system (DuPont Analysis) is

14、 the result of DuPont produced by the United States DuPont, by Pierre DuPont and Donaldson brown, was founded in 1919 and use. DuPont analysis method with the net interest rate of the rights and interests as the core, using the enterprise financial statements data and related materials, using the in

15、ternal relation between the indexes to systematically analyze the enterprises profit ability, debt paying ability, assets operation ability, in an objective and comprehensive evaluation of enterprises financial position and operating results. Evaluation of listed companies operating performance meth

16、od are many, common Volvo scoring method, BP neural network evaluation method, the balanced scorecard method, DuPont analysis system. Compared with other financial analysis, DuPont analysis method has unique advantages. First of all, pay more attention to the integrity of the enterprise management a

17、ctivity, DuPont analysis to evaluate various basic indicators of enterprises, the organic link, from two directions of global and local operating conditions of evaluation of enterprises. Second, pay more attention to the coordination of the enterprise business activities. By using the method of comb

18、ining static and dynamic analysis between various indicators of changes, we can give quantitative evaluation to the optimization condition of the indexes. Finally, DuPont analysis method has a distinct gradation, can from top to bottom, from bottom to top, respectively from the overall to local and

19、from local to the whole two directions to calculate, the deductive process of inductive economic indicators, go deep into the enterprise management of all details. But in the process of evaluation of operating performance of listed companies, the traditional DuPont analysis system has its inevitable

20、 flaws. On the one hand, the traditional DuPont analysis method cant cover all economic and technical indicators of listed companies, such as earnings per share, net asset per share, dividend payment rate, rights and interests of minority shareholders, etc., ignores the time value and risk factors,

21、unable to meet the requirements of listed companies maximize shareholder financial. On the other hand, the traditional DuPont financial analysis of data from the balance sheet, income statement, ignoring the analysis of cash flow3 The main problems that TJG co., LTD facing3.1 Rate increase is too la

22、rge, the input offset short-term shortageThe tax rate of the company of a small decline, thanks to the company enjoys some camp instead of preferential policies. At the same time, the companys international freight and passenger services, consulting services, and in addition to the warehousing busin

23、ess logistics auxiliary business after the battalion to add implement investigation. If it were not for the preferential policy, the companys turnover taxes will increase. First of all, the tax rate increased the output tax of the company set too high. VAT instead business tax, after TJG shares many

24、 of the business are beginning to change paid VAT, and high tax rates set increased the output tax of the company, increased the pressure of the cash flow. In addition, the insufficient input of deduction short-term increased tax burden of the company .TJG co., LTD mainly include the human cost, fue

25、l cost, the cost of utilities, toll fee, payment of freight, repair and transport vehicles, ships, loading and unloading machinery and other fixed assets depreciation expense, including human salary, stock, fixed assets depreciation, road toll on large proportion in the operating cost, this part of

26、the cost is not the input offset, and fuel costs can be deducted, maintenance costs, utilities and other input tax cost and severity shortage, and often difficult to obtain special invoices, in the short term will increase the companys turnover tax burden. At the same time, companies invest huge per

27、centage of port infrastructure construction project and is not in the scope of VAT deduction, also led to the input deduction project scale and scope can be narrowed, increase the company turnover tax burden.3.2 invoice management chaos, system update slowInvoice management chaos increases the risk

28、of the companys tax and the tax burden. Invoice not only is the foundation of the enterprise accounting system, but also the important basis of company income deduction. But in practice, the influence of the traditional business tax inertia, to the special invoices for value-added tax management cha

29、os is one of the most easily neglected problems of invoice management. Written system in TJG co. LTD., mainly include the reimbursement system, the subcontract and multimodal transport system, assets, equipment procurement system, and so on, and these systems are usually drawn up during the collecti

30、on of business tax, after the camp change is not necessary to update and revision. In the subcontract, multimodal transport, purchase of fixed assets and other business, the relevant personnel since there is no system of rigid constraints, in the process of trading activities of the contractor or sa

31、le tax qualifications, issued the invoice of authenticity and requirements of importance is not enough, in many cases even unable to obtain special invoices, it reduces the companys tax deductible. Financial personnel, moreover, because the job is busy, lack of ability to wait for a reason, sometime

32、s also can appear not within the prescribed time, the status of the special invoice for certification and deduction, the company to lose the opportunity of tax deduction, an additional increase the companys tax burden, which can lead to companys interests.4 Solutions4.1 Tax planningChange in overall

33、 camp big background, to carry out practical and effective tax planning, reduce the tax burden, TJG co. LTD has the most direct and most effective way to control the fords the tax risk. VAT instead business tax, many of the companys business activities in accounting, tax treatment and operation mode, major ch