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

Jiaqin Qu ()
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Jiaqin Qu: Anhui University, College of Economics, Postgraduate students in the Master of Science in Taxation

A chapter in Proceedings of the 2025 3rd International Conference on Digital Economy and Management Science (CDEMS 2025), 2025, pp 605-609 from Springer

Abstract: 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.

Keywords: “two-invoice system”; pharmaceutical manufacturing industry; tax risk; heterogeneity; double-difference scores (search for similar items in EconPapers)
Date: 2025
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DOI: 10.2991/978-94-6463-770-0_68

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