Table 4 DACT analysis by group for acquisition tax rate cuts

Date of implementation	Before or after implementation	Group1	Group2	Group3	Change of group1	Change of group2	Change of group3
2006-09-01 First cut	Before	0.701	−	−	−0.122	−	−
2006-09-01 First cut	After	0.578	−	−	−0.122	−	−
2011-03-22 Second cut	Before	0.255	−	−	0.051	−	−
2011-03-22 Second cut	After	0.307	−	−	0.051	−	−
2012-09-24 Third cut	Before	0.282	0.227	0.124	0.036	−0.094	0.091
2012-09-24 Third cut	After	0.317	0.133	0.215	0.036	−0.094	0.091
2013-03-22 Fourth cut	Before	0.268	0.245	0.111	0.020	−0.129	0.138
2013-03-22 Fourth cut	After	0.288	0.116	0.249	0.020	−0.129	0.138
2014-01-01 Fifth cut	Before	0.136	−	−	0.031	−	−
2014-01-01 Fifth cut	After	0.167	−	−	0.031	−	−
Statistical test		Chi square	13.433…		Standar-dized J-T	3.665…