A Study On The Impact Of "Replacing Business Tax With Value-added Tax" On The Transformation And Upgrading Of Manufacturing Enterprises

As the core of real economy,manufacturing industry plays a pivotal role in increasing financial revenue,expanding employment,and activating urban and rural economic development.It is the main force of modern industrial system in our country.In the tide of economic globalization,China has participated in the division of labor system of global value chain by virtue of its advantages of low-cost factors,and has become a global manufacturing power and a veritable "world factory".However,with the development of modern information technology and the advent of the era of personalized consumption,the competitive advantages of traditional manufacturing industry are increasingly declining.In addition,developed countries in Europe and the United States further promote the "de-sinicization" of the global industrial chain,China’s manufacturing industry from the low-end is facing a development dilemma.With the rise of a new round of technological revolution and industrial revolution,more and more manufacturing enterprises begin to on the basis of the physical products to provide customers a variety of value-added services,manufacturing enterprises rely on processing and manufacturing have been unable to meet its survival and development needs,from the pursuit of productivity level,enterprise scale to the pursuit of high-end manufacturing,is the inevitable choice of the transformation and upgrading of service.As an important measure of supply-side structural reform,deepening the reform of the tax system and fully releasing the dividend of tax policies to stimulate the vitality of market entities are important issues to be addressed for high-quality economic development.From the academic point of view,as an important tax reform in China,most scholars study the policy effects of "replacing business tax with value-added tax" from the perspectives of innovation and deepening of labor division,but few study the policy effects from the perspective of manufacturing service.What is the impact of "replacing business tax with value-added tax" on the transformation and upgrading of manufacturing enterprises? Can manufacturing servitization play the role of transmission mechanism? How to deepen the reform of VAT tax system in the era of "replacing business Tax with Value-added Tax" ? These are worthy of further research topics.From the reality,to implement to add "camp",although "camp to add" policy in the adjustment and optimization,adding to the current economic development and upgrading of industrial structure of energy,but in the real economy and financial institutions,there are still some barriers between real economy and financial and economic input offset between the chain to get through,If the VAT tax system reform in the future can further open up the differences between industries and various links,then the manufacturing industry as the core of the real economy will enjoy greater tax reform dividends,to help its transformation and upgrading.Based on the above background,this paper reviews and sorts out relevant literature on "replacing business tax with value-added tax",manufacturing servitization and manufacturing transformation and upgrading.On this basis,this paper proposes the definition of relevant concepts and summarizes the empirical experience of predecessors.In addition,combed the camp "change" the reform process,and the current situation of the development of manufacturing enterprises and the influence factors of transformation and upgrading to make analysis,using the relevant economic theory to "camp to increase","manufacturing service","transformation and upgrading of manufacturing industry" on the logical relationship between,and on this basis proposes the theoretical hypothesis.On the empirical analysis,based on the classification of securities industry in2009-2020 in a-share manufacturing listed companies as research samples,it can be divided into the experimental group and control group,the construction of double difference model,in order to "camp to add" policy as A natural experiment,studying the effect of VAT reform on transformation and upgrading of manufacturing enterprises,in order to make more robustness empirical results,In this paper,and the trend of parallel test,PSM-DID the inspection,the fact and rule out other industrial policy and the impact of tax depressions of empirical results for further verification,and on this basis,respectively,from the place of the region,the nature of the ownership of enterprises,the enterprise scale the Angle of the probe to add "camp" policy impact on the transformation and upgrading of the manufacturing enterprise heterogeneity.In addition,a mediating effect model is constructed to explore the mechanism between "replacing business tax with value-added tax",manufacturing servitization and the transformation and upgrading of manufacturing enterprises,so as to verify the theoretical hypothesis.The empirical results show that:(1)In general,the implementation of the policy of "replacing business tax with value-added tax" has significantly promoted the transformation and upgrading of manufacturing enterprises,and the empirical results still hold after a series of robustness tests.(2)Through further heterogeneity analysis,it is found that the policy effect of "replacing business tax with value-added tax" is more obvious in the eastern region with a higher level of economic development and marketization;Compared with state-owned enterprises,the incentive effect of private enterprises is stronger;Compared with large enterprises,it has a better effect on the transformation and upgrading of small and medium-sized enterprises.(3)Mechanism test shows that "replacing business tax with value-added tax" can drive the transformation and upgrading of manufacturing enterprises through manufacturing servitization,that is,the mediating effect of manufacturing servitization exists.Finally,on the basis of comprehensive theoretical analysis and empirical test results,this paper puts forward relevant suggestions from two levels of government and enterprise respectively.At the policy level,we should continue to deepen the reform of value-added tax and effectively play the incentive effect and regulatory role of tax policy.Orderly guide the transformation of manufacturing enterprises into services,and strengthen the connectivity between manufacturing and service-type enterprises;Enterprise countermeasures: standardize the management mode,actively adjust the management strategy to grasp the dividend of VAT reform.Enhance the initiative and creativity of service-oriented transformation,seek the balance of transformation and find the positioning of transformation and upgrading.From the theoretical sense,first of all,this paper enriches the research on the exploration of the transformation and upgrading path of manufacturing enterprises by VAT reform,and investigates the mechanism of "replacing business tax with value-added tax" on the transformation and upgrading of manufacturing enterprises from the perspective of innovation of manufacturing servitization.Secondly,the sorting and summarizing of relevant metrics in this paper can provide reference for others to do research on related topics.Thirdly,based on the previous research experience,this paper also optimizes the measurement methods of some variables to a certain extent.From the perspective of practical significance,this paper provides a useful reference for further deepening the reform of value-added tax,promoting the improvement of the service level of manufacturing industry and promoting the transformation and upgrading of manufacturing enterprises.