Employing a qualitative methodology through literature review and synthesis, this study systematically analyzes the impacts of the VAT credit refund policy on enterprises. Findings reveal that the policy enhances corporate resilience by improving liquidity, supports digital and green transformations, and boosts labor productivity through optimized human capital structures. Nevertheless, challenges such as prevalent tax fraud and misalignment between policy design and dynamic corporate transformation needs may undermine long-term efficacy. Future efforts should focus on strengthening regulatory mechanisms, refining policy coordination, and exploring industry-specific optimization pathways to maximize policy benefits and foster high-quality growth in the real economy. The findings can inform government efforts to refine regulatory frameworks and improve relevant policy coherence, while providing practical guidance for enterprises to leverage policy tools effectively and achieve sustainable development. Ultimately, this research contributes to advancing the goal of high-quality growth in the real economy and giving a basis for the future empirical research.
Puning Jia (Thu,) studied this question.