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Research On The Influence Of Fiscal And Tax Policy Incentive On The Development Of Digital Industry

Posted on:2022-05-21Degree:DoctorType:Dissertation
Country:ChinaCandidate:M LiFull Text:PDF
GTID:1489306617497224Subject:Finance and Tax
Abstract/Summary:PDF Full Text Request
The digital industry has become a strong growth point and core strategic area for the development of the national economy.Its high value-added and technological content,high growth and future,high driving effect,and green and low-carbon characteristics are strategically driving and leading economic development at this stage.In the key strategic period of industrial structure transformation and upgrading as well as the in-depth transformation of economic development mode,the continuous high-quality development of the digital industry plays an irreplaceable key role in enhancing the comprehensive strength of the industry and maintaining the national industrial security.The continuous development of the digital industry has driven the digital transformation of various industries and even the entire society.Countries all over the world have considered the digital industry as a core strategic area to fully promote and develop.After nearly two decades of development,China's digital industry has begun to take shape and has entered the fast lane of development.However,as the digital industry environment and national economic structure continue to transform into the deep water stage,the independent innovation capabilities and core competitiveness of the digital industry,which urgently need to be further improved.In the context of extremely changing external environments,rapid digital technology iterations,and increasing uncertainty in the digital industry's capital market,how to use scientific and reasonable fiscal and tax policies to encourage the continuous,healthy,and rapid development of the independent innovation of the digital industry is a key issue for the government,industry,and the market.Researchers are focusing on hot issues and studying fiscal and taxation policies that promote the development of digital industries,which is extremely valuable.Based on an overview of the overall research and related conceptual model theory,this article summarizes and analyzes the current situation of the digital industry in terms of the generalization,characteristics,problems,and related fiscal and tax policies of the digital industry.On this basis,from the perspective of theoretical analysis of the impact of policies on the digital industry,endogenous economic growth,and the mechanism of the impact of fiscal and taxation policies on the digital industry,the supply and demand are analyzed.Additionally,the means for fiscal and taxation policies to stimulate the development of the digital industry are summarized.Based on the results of theoretical analysis,we used the data of each production department to compile the digital industry SAM and construct the dynamic CGE model.Relevant policy scenarios were set up to measure the extent to which fiscal and tax policies affect core digital service departments,other production departments,and macroeconomic indicators.We also adopted dynamic models to simulate the changes in the effects of fiscal and taxation policies in different periods.Based on the macro analysis,the data of listed companies was used to measure the path transmission and R?D investment impact of corporate digitalization affected by fiscal and taxation policies,and the key role of path transmission and R?D investment on fiscal and taxation policies that affect the digital industry was characterized.The software industry and representative software companies in China were then analyzed.Furthermore,we compared the digital industry development status and related fiscal and tax policies of mainstream economies such as Europe,America,Japan,South Korea,and India,focusing on the delivery path and R?D investment,and analyzed their policy similarities and differences,which can be used for reference to improve China's digital industry fiscal and taxation policies.Combiningincentive theory,efficiency theory,resource allocation theory,and the law of digital industry development,this paper conducted a comprehensive theoretical and empirical study on the fiscal and taxation policies to stimulate the development of the digital industry from multiple perspectives such as digital industry,typical digital industry,and micro-enterprise entities.The main conclusions are as follows:First,the various measures of fiscal and tax incentives have differentiated impacts on the supply and demand of the digital industry.We analyzed the status quo of the development of the digital industry,the basic characteristics of the digital industry,and the status quo of China's digital industry-related policies,followed by a theoretical analysis of the impact of fiscal and taxation policies on the digital industry.From the perspective of supply and demand,the externalities of the development of the digital industry,the public product attributes of its output,the uncertainty and information asymmetry of the digital industry require the government to intervene in its development.Fiscal and taxation policies are important for the government to promote the development of the digital industry.Scientific fiscal and taxation policies can correct the positive externalities of the digital industry and change the disparity between public and private income.The government promotes a more reasonable distribution of income through tax incentives and financial support,which enhances the enthusiasm for the development of the digital industry.Fiscal and taxation policies help typical industries of the digital industry to break through the core development bottlenecks,effectively reduce the risks of the digital industry,and directly drive the development of the digital industry.We constructed participant behavior constraint equations under the framework of endogenous economic growth theory to analyze whether fiscal and tax growth can play a significant role in the growth rate of the digital industry in a competitive equilibrium state.Due to the impact of tax incentives and fiscal subsidies on the economic system,there are only direct and indirect effects.Thus,the tax subsidy was incorporated for the overall analysis.Second,fiscal and tax incentive policies for the digital industry have different macro effects on various digital industries and other sectors of the national economy.According to the compiled SAMs of relevant departments of the digital industry and the macro CGE simulation model the static policy simulation results showed that the impact of tax reductions and exemptions of the same magnitude was greater than that of fiscal subsidies,and the synergistic effect of tax reductions and fiscal subsidies was greater than that of a single policy incentive.The greater the fiscal and taxation policy support,the greater the increase in output.There is significant industry heterogeneity concerning the impact of fiscal and taxation policies.Under the same policy,the output growth of information technology services was greater than that of software services,and software services were greater than the Internet and related services.The changing trend of macroeconomic indicators under each scenario was consistent with the changes in typical digital industry output under each scenario.The impact of fiscal and taxation policies on each macro indicator was significantly different.The macro indicators of directly related business entities had the largest increase,and the output-driven increase in investment was relatively large,while the increase was small in indirect impacts of macroeconomic indicators such as resident welfare,government income,and foreign savings.The CGE dynamic model was used to evaluate the time accumulation effect of policies on the digital industry,and the effects of various aspects of fiscal and taxation policies had different lags.Periods of different paths play a role in different cycles,especially for some industries in the digital industry.The return cycle of technology investment is long,and its impact on other industries and the macroeconomy is manifested as a collection of elements and a siphonic effect under resource constraints.It was gradually replaced by the spillover effect of the digital industry.Third,fiscal and taxation policy incentives affecting the signal transmission,and R?D expenses in the digital development of enterprises are important influencing factors.This paper analyzed how the fiscal and tax incentive policies impacted a company's digital transformation work from the perspective of the micro-market entities.We also focused on analyzing the signal transmission of fiscal and taxation policies to the effects of digital transformation of business entities,as well as the most concentrated and powerful fiscal and tax incentive policies.The R?D expenses of the government and related fiscal and taxation support mechanisms that affect the digital transformation of enterprises were analyzed.Fourth,the fiscal and tax incentive policies of typical digital industries are effective but need to be improved.This paper analyzed the financial status and tax burden structure of the entire software industry and typical enterprises under the financial subsidies and found that the software industry as a whole had a lower tax burden level,which greatly reduced the cost and risk of the enterprise,and promoted the rapid expansion of thebusiness.The fiscal and taxation policies played a good incentive role.However,the entire software industry also had the problem of insufficient intensiveness and the need to improve technological innovation capabilities.Compared with core digital industries such as integrated circuits currently supported by the state,the tax burden of the software industry was still relatively heavy.On this basis,this research summarized the development status and related policies of the digital industry in traditional developed countries such as Europe,America,and Japan,and emerging industrial countries such as South Korea and India.Comparison related to the digital industry development strategies and fiscal and tax policies of the international mainstream economies were conducted.Through the analysis,the experience can be effectively learned to support the development of China's digital industry.There are some commonalities in the fiscal and taxation policies of the digital industry in mainstream countries and regions.The enlightenment and reference of international experience for China's digital industry is that fiscal and taxation policy support is indispensable for the development of the digital industry.Fiscal and taxation policies should focus on pertinence and systematicity,with reasonable strength and prominent focus.The role of policy-based finance and government procurement should be strengthened.As a result,this article provides the direction of adjustment and improvement of the fiscal and taxation policies of the digital industry,suggestions on adjusting and improving the fiscal and taxation policies of China's software and digital industry,strengthening the performance management of fiscal and taxation policies in the digital industry.Several aspects have given policy recommendations,hoping to provide data support for the adjustment of fiscal and taxation policies of relevant government departments that are not suitable for the development of the digital industry at this stage and to further adjust and improve the fiscal and taxation policies related to the digital industry.The pressure and adjustment of the company gave relevant suggestions,which have reference value for digital enterprises' independent innovation,strategic adjustment,achievement transformation,financial optimization,etc.Our research has pointed out the related benefits,directions,and precautions of digital industry investment supported by fiscal and tax policies,which have provided investors for participating in and profiting from the development of the digital industry.
Keywords/Search Tags:Digital Industry, Fiscal and Taxation Policy, Technological Innovation, Incentive Effect, Industrial Progress
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