Abstract: Based on the data of Chinese listed companies during 2012-2013,this paper empirically examples the effect of local government debt on corporate tax burden. We find that local government debt influences significantly corporate tax burden within the service area. It shows concretely as follows: local government debt is significantly positive with corporate’s total tax burden and net tax burden, and the degree of positive relationship is more when the firms are Non-SOE and overseas-funded. The analysis given by this article demonstrates that local government debt not only may lead to macro risks, such as fiscal risk and financial risk, but also has micro influence on corporate behavior.

摘要： 本文选用沪、深A股上市公司2012-2013年的数据作为研究样本，实证检验了地方政府债务对辖区内上市公司税负的影响。研究结果表明，地方政府债务对辖区内上市公司的税负产生了显著的影响，具体表现在：地方政府债务越大，辖区内上市公司支付的总税负和净税负越重，当上市公司是非国有企业、外资企业时，税负更重。本研究的启示意义在于，地方政府债务不仅可能导致宏观层面的财政风险和金融风险，而且可能会对微观企业行为产生影响。