Research on the Influence of Tax Incentive on Enterprise Supply Chain Efficiency--Verification of VAT Credit Refund Policy

This study utilizes panel data spanning from 2012 to 2023 to construct a difference-in-differences model, aiming to examine the causal effects and underlying mechanisms of the VAT carryover refund policy on corporate supply chain efficiency. The analysis reveals that the policy substantially improves supply chain efficiency by enhancing firms' innovation capacity, which in turn facilitates better coordination, resource allocation, and operational responsiveness within the supply chain. Furthermore, the results indicate that the policy's positive effects are especially pronounced for enterprises with a high degree of supply chain concentration, suggesting that firms facing more concentrated operational networks benefit disproportionately from improved financial liquidity and targeted innovation incentives. By systematically evaluating both the direct and indirect pathways through which the VAT carryover refund policy operates, this study provides robust evidence of its effectiveness in promoting more agile, innovative, and efficient supply chain management practices across diverse corporate settings, thereby offering valuable insights for policymakers seeking to optimize fiscal tools to strengthen corporate performance and overall economic productivity.