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Value-added tax （VAT） is based on the newly increased value in the production and circulation of commodity. Since 1979, VAT in China has experienced small scale trial, expanding the implementation in the production of some commodity, full implementation the three stages. In 1994, VAT became an important tax in Chinese economic life. Given the low level of the productive forces, our domestic economic conditions, over-expansion of investment, economic overheating and other factors, our country carried out the productive value-added tax, which played a positive role for the economic situation at that time.With the development of economy, the disadvantage of productive VAT gradually exposed. The input taxes were not allowed to be deducted from the cost of fixed assets, which directly increased the tax burdens of enterprises. Coupled with the urgent demand of technological progress and innovation, it was inevitable to carry out the tax system reform.From 2004 to 2008, our country carried out consumption-type VAT step by step. January 1, 2009, a nationwide consumption-type VAT began implemented. In the past two years, what kind of influence consumption-type VAT has brought to the Chinese enterprises? From the enterprise attribute, information disclosure and industry three aspects, this article analyze the transformation of VAT how to impact on enterprises, and reference to the statistical data in different years, different regions and industries of "China Statistical Yearbook", "economic and social development in Northeast China and other Statistical Bulletin" and other official websites.In the empirical study, this article selects 46 companies of the A-share listed from 2006 to 2010 which belong to manufacturing industry in Beijing, Tianjin and Hebei, and then establish a multiple linear regression model Y =β1 X1+β2X2+β3X3+β4X4+β5X5+C to compare the compact of transformation of VAT, net cash flow from operating activities per share, fixed assets ratio, asset-liability ratio, net assets per share on enterprise performance.We conclude that: the coefficient on behalf of VAT is largest, which means transformation of VAT makes enterprise performance better. Net cash flows from operating activities per share and net assets per share are positively related to enterprise performance. In the Range of 0.4-0.6, the asset-liability ratio is higher, enterprise performance is better. Fixed assets ratio and earnings per share are negatively correlated.This article is just to throw away a brick in order to get a gem. It has some reference value for studying the transformation of VAT how to impact on all taxable industries.
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