| Venture Capital, its abbreviation is "VC", is a kind of investment behavior to offer the capital of stock right to new extremely potential enterprises or the small and medium-sized enterprises (mainly about new high-tech enterprise). Its basic characteristic is: Having a long cycle, generally 3-7 years; Besides inputting capital, investors also offer consultation and help as business administration, etc. to the target of investment; Investors mainly obtain investment repayment through the stock right transfer activity.Indicated, VC is a result that a new high-tech industry developed into a certain stage by research. From the essence, the Knowledge-based Economy is the knowledge intensive economy based on modern new and high technology. In the Knowledge-based Economy society, the new high-tech industry is not only engine and growth sources of economic development in the future, but also will become the fresh combatants and main support in the era of Knowledge-based Economy. But because it is difficult for the new high-tech industry to meet their fund demands through the traditional financing means, must excavate new financing way satisfied with his need. Through long-term exploration and practicing, start an undertaking and invest the mechanism to arise at the historic moment, bear the enormous gap of remedying traditional financing, and hatch the important task of the new high-tech industry. Promote the new high-tech industry to develop forward through promoting VC; VC instead of suiting in development need of the new high-tech industry, the two complements each other, both as motive force.This thesis is besides explaining VC and state of development briefly; mainly looking for the way and method to promote VC through perfecting the laws, the statute and the policies of tax by studying the relationship between the tax policy and VC. The tax, as the important lever of national macro control, can work with the progress and development of VC, this has already been proved by practice of some developed countries. The article regards two respects of theory and practice asargument demonstration of the function of promoting VC by using the policy of the tax in the world. Taking such typical countries as U.S.A., etc. as an example indicates that the rapid development of the hi-tech industry has promoted U.S.A.'s sustaining economic increase. And VC Mechanism having close relationship with the new hi-tech industry is the reason to ensure and promote the development of U.S.A hi-tech industry in an amazing speed. Many famous hi-tech enterprises such as DEC, Intel, Microsoft, Compaq, Apple, etc. were once received its investment and support. And these enterprises entirely develop in the VC mode and stand up to be stronger progressively.Our country has made scientific researches on VC for nearly 20 years, and has obtained some achievement. This article illuminates the development history and actuality of VC in.our country. Since the eighties of the 20th century, our country has made a series of laws, statutes and policies, etc. to promote VC. And it has played an important role. But it still has a certain gap with the demand for the development of VC at the present stage with our country. And there has been a great distance between it and the international advanced level, too. So, it is important to perfect the legal system of taxation of VC in our country, either for theory or practice.VC in our country is still at primary stage, and it needs the great support of government. It is necessary for VC in our country to be offered good legal environment and clear policy guidance. This thesis proposes corresponding countermeasure to develop VC by two respects, and one hand is using external experiences, the other hand is aiming at existing problems of current tax law about VC in our country. The purpose is to build a good development space for VC in our country. |
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