The Impact of “Two-invoice System” Reform on Tax Risk of Pharmaceutical Manufacturing Industry

DOI

10.2991/978-94-6463-770-0_68How to use a DOI?

Keywords

“two-invoice system”; pharmaceutical manufacturing industry; tax risk; heterogeneity; double-difference scores

Abstract

In the context of the comprehensive implementation of the “two-invoice system” reform, the impact of the “two-invoice system” on the tax risk of pharmaceutical manufacturing enterprises is studied by using the financial data of China’s Shanghai and Shenzhen A-share listed companies in the pharmaceutical manufacturing industry in the period from 2012 to 2022. The study finds that the “two-invoice system” reform increases the tax risk of pharmaceutical manufacturing enterprises at the 5% significance level, and this effect is different in different types of enterprises, compared with state-owned enterprises, non-state-owned enterprises are much more affected by the implementation of the policy, and the tax risk increases at the 1% significance level.

Copyright

© 2025 The Author(s)

Open Access

Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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TY  - CONF
AU  - Jiaqin Qu
PY  - 2025
DA  - 2025/06/26
TI  - The Impact of “Two-invoice System” Reform on Tax Risk of Pharmaceutical Manufacturing Industry
BT  - Proceedings of the 2025 3rd International Conference on Digital Economy and Management Science (CDEMS 2025)
PB  - Atlantis Press
SP  - 605
EP  - 609
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-770-0_68
DO  - 10.2991/978-94-6463-770-0_68
ID  - Qu2025
ER  -