Research On The Influence Of Tax Preferential Policies On Green Technology Innovation In Manufacturing Industry

As China’s economy moves into the stage of high-quality development,the government continues to strengthen its efforts to promote the development of a green economy.2022,the 20 th Party Congress report proposed to accelerate green development,promote the deep integration of emerging technologies and green low-carbon industries,and promote the green transformation and upgrading of various industries.The manufacturing industry,as the foundation of the country,is also continuously promoting green development and building a green manufacturing system.Green technology innovation,as a necessary path of green manufacturing system,helps to promote the development of green economy in China’s manufacturing industry.However,in the process of green technology innovation in manufacturing industry,there are problems such as insufficient funds for R&D investment and difficulties in transforming R&D results,which lead to insufficient power of green R&D investment and R&D output in manufacturing industry and need the guidance and incentive of tax preference.However,as far as the current situation is concerned,there are obvious shortcomings in the current tax preferential policies in terms of preferential methods and preferential strength.Therefore,it is of great significance to study the relationship between tax incentives and green technology innovation in manufacturing industry.This paper composes the existing literature and theoretical achievements,based on which the concepts and theoretical foundations related to tax incentives and green technology innovation are introduced,and the development of green technology innovation and the evolution process of tax incentives in China are analyzed.To further verify the relationship between tax incentives and green technology innovation in manufacturing industry,this paper constructs a model of R&D input and R&D output of green technology innovation in manufacturing industry and selects relevant data of listed manufacturing industry from 2012-2021 for empirical analysis.Firstly,we analyze the effects of income tax preference and transfer tax preference on R&D input and R&D output of green technology innovation in manufacturing industry from sample companies using fixed effect model.The empirical results show that both income tax preference and turnover tax preference will promote green technology innovation R&D input and R&D output.The heterogeneity of the sample enterprises is then analyzed to investigate whether there is any variation in the impact of tax incentives on green technology innovation in manufacturing industries in different regions and industries.The empirical results show that,on the one hand,in the model of green technology innovation R&D input,the income tax preference and the transfer tax preference have positive effects by region and by industry respectively,and pass the significance test.On the other hand,in the green technology innovation R&D output model,the income tax preferences in the central and western regions do not pass the significance test on the green R&D output stage,but the rest pass the significance test,which indicates that there are differences in the influence of income tax preferences on green R&D output among different regions;the income tax preferences of high-tech enterprises do not pass the significance test on green R&D output,but the rest pass the significance test,which indicates that there are differences in the influence of income tax preferences on green R&D output among different regions.The rest of them passed the significance test,indicating that there is a difference between different industries in terms of income tax incentives on green R&D output.By shortening the years method and replacing the variables method to do the robustness test,we also realize that income tax preferences and turnover tax preferences show a significant positive correlation to green technology innovation in manufacturing industry,which indicates that the data in this paper have robustness.In addition,the results show that the financing constraint plays a negative role in the positive incentive of income tax preference and transfer tax preference on the green technology innovation input of manufacturing industry,and the number of R&D personnel plays a positive role in the positive incentive of income tax preference and transfer tax preference on the green technology innovation output of manufacturing industry.Based on the empirical results,this paper proposes tax policy suggestions to promote the development of green technology innovation in manufacturing industry,mainly including: improving the tax policy for green technology innovation R&D inputs,improving the tax policy for green technology innovation R&D outputs,implementing regional differentiated tax policy;and optimizing the tax preference guarantee system.