VAT Retention and Tax Rebate and Enterprise Innovation
DOI:
https://doi.org/10.54097/fbem.v8i1.6223Keywords:
VAT retained for tax rebate, Manufacturing industry, Innovation.Abstract
the enterprise is a country's innovation main body, manufacturing enterprise is innovation highland, enterprise independent innovation ability is the key to the implementation of innovation driven development strategy, VAT as the main body of the current tax system in China tax, the influence of the policy changes on the enterprise is huge, VAT tax rebate policy as an important part of a new round of tax reform, will increase the current cash flow, may encourage enterprises to make more innovation. This paper takes the release of the Ministry of Finance and the State Administration of Taxation 2018) No.70 of the Ministry of Taxation in 2018 as the research background to study the impact of the VAT rebate policy on enterprise innovation. Through the summary and comment of the previous literature and combining with the existing exploration results, this paper discusses the possible impact of the implementation of the tax rebate on the innovation of manufacturing enterprises. According to the different characteristics of enterprises, it also puts forward the heterogeneous hypothesis based on the financing constraints, the difference of geographical location and the difference of enterprise property rights. The following several hypotheses are proposed in this paper. H1: Manufacturing enterprises that enjoy the tax rebate policy are more willing to innovate. H2: Compared with the weak financing constraints, the enterprises with strong financing constraints are more willing to innovate after enjoying the tax rebate policy.
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