Research On The Impact Of Value-Added Tax Rate Reduction On Enterprise Dual Innovation

With the continuous innovation of science and technology,technological innovation is not only an important support for a company’s sustainable development,but also an important driver for promoting China’s economic transformation and upgrading.It can not only help enterprises increase the market share of their products,but also improve the working environment of workers,motivate them to better realize their own value,and improve China’s international position and make China’s economy more sustainable.Judging from the current situation,it is difficult to maintain the frontier of China’s science and technology by relying solely on external models and innovations,and it is difficult for China’s economy to achieve real growth.Therefore,China’s science and technology and innovation capabilities urgently need to be improved.The party and the state attach great importance to it and adopt a variety of methods to encourage enterprise innovation.Among them,the government reduces the tax burden of enterprises by reducing tax rates,thereby encouraging enterprises to increase innovation investment and expand the demand for innovation and research and development.In 2018,the VAT rate was reduced from 17% to 16%,and 11% to 10%.On April 1,2019,the VAT rate was reduced from 13% to 10%,11%.It was reduced to 9%.This reform provides us with a new perspective on whether the reduction of VAT rates can promote corporate ambidextrous innovation,and which innovation model can better stimulate corporate ambidextrous innovation.This article delves into how reducing the VAT rate can promote innovation in enterprises,especially the impact on exploratory and utilised innovation.This paper also digs deep into the mechanism behind these changes,and attempts to reveal the specific implementation process of the mechanism of action.The "VAT transformation" and "VAT replacement" aim to improve the VAT deduction process,but their role is not the same as VAT Tax rate cuts have very different effects.This article delves into the policy effects of reducing VAT and how it can contribute to the growth of enterprises.From the perspective of enterprise ambidextrous innovation,based on the adjustment of VAT tax rates between 2018 and 2019,the impact of corporate ambidextrous innovation is analyzed.It is found that: First,the reduction of the VAT rate can significantly promote the exploratory innovation and utilization innovation of enterprises.Second,compared with exploratory innovation,the reduction of the VAT rate has a greater incentive effect on utilised innovation,and enterprises are more inclined to invest more money in the innovation of existing technologies.Third,the reduction of the VAT rate has promoted the dual innovation of enterprises by easing financing constraints.