Study on the Impact of Value-Added Tax (VAT) Carryover Tax Credit Policy on the Capital Turnover of High-Tech Enterprises - An Empirical Analysis Based on Chinese A-Share Listed Companies from 2016 to 2022

DOI

10.2991/978-94-6463-835-6_87How to use a DOI?

Keywords

VAT carryover tax credit policy; High-tech enterprises; Capital turnover

Abstract

As a core measure of recent tax reduction and fee reduction policies, the VAT carryover tax credit reform has significantly influenced market entities’ behaviors by optimizing corporate cash flow. This paper takes Chinese A-share listed companies from 2016 to 2022 as samples, focuses on high-tech enterprises, and constructs a difference-in-differences (DID) model based on the policy shock of the Notice on Tax Policies Concerning the Refund of Partial Industries’ VAT Carryover Tax Credits in 2018 (Caishui [2018] No. 70), to evaluate the impact of carryover tax credits on the capital turnover of high-tech enterprises and its mechanism. The study finds that the carryover tax credit policy significantly improves corporate capital turnover rates. The paper further proposes policy recommendations: first, implementing “precise tax refunds” by lowering tax refund thresholds for high-tech industries; second, establishing a “tax refund-research and development (R&D)” linkage mechanism to guide refunded funds into innovative activities; third, optimizing the policy's dynamic adjustment framework to balance fiscal burdens across regions. The research conclusions provide micro-level evidence and decision-making references for improving the VAT system and promoting the innovation-driven development strategy.

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  - Jingnan Lai
PY  - 2025
DA  - 2025/09/17
TI  - Study on the Impact of Value-Added Tax (VAT) Carryover Tax Credit Policy on the Capital Turnover of High-Tech Enterprises - An Empirical Analysis Based on Chinese A-Share Listed Companies from 2016 to 2022
BT  - Proceedings of the 2025 3rd International Academic Conference on Management Innovation and Economic Development (MIED 2025)
PB  - Atlantis Press
SP  - 832
EP  - 838
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6463-835-6_87
DO  - 10.2991/978-94-6463-835-6_87
ID  - Lai2025
ER  -