An Empirical Research On The Impact Of Tax Incentives To High-Tech Enterprises’ Technology Innovation

High-tech enterprises are the most concentrated and active areas intechnologhical innovation activities of China’s enterprises.The development ofhigh-tech enterprises determine whether or not to change the way of economicdevelopment,adjust the industrial structure,successfully achieve the strategic objectiveof being an innovative country.However,as an important policy tool,tax is not limitedto organize the government revenue,it is more used to adjust industrial structure. Taxincentives are the main incentive tools for most contries to involve in technologicalinnovation activities.In recent years,Chinese government issued a series ofpreferential tax policies for technology innovation of high-tech enterprises.In thiscontext,evaluating the policy effects of the implementation of tax incentivescomprehensively、objectively、deeply, discussing its mechanism and possible effectssystematically have a great significance for policy department to formulate thefollowing public policy.This paper reviews the previous studies,through the methods of combiningtheoretical analysis and empirical analysis, based on comparative analysis perspective,it analyzes the effect of high-technique enterprises’ technology innovation by taxincentives.Firstly,this paper comparatively analyzes the characteristics of taxincentives and government subsidies,then weighs the choice of the two policyinstruments for enterprises’ technology innovation theoretically,and then it builds thetax incentives effects of technological innovation model and analyzes the impactpaths of different ways of tax incentives to enterprises’ technologyinnovation.Secondly,this paper introduces the present situation of the capability andlevel of China’s high-tech enterprises’ technological innovation from the four aspectsas innovation funding,human resources,output capacity of innovation andinternational competitiveness,then summarizes the policies and makes a briefcomments on tax policies related to technological innovation.Thirdly,on the basis ofabove analysis,the author screens the samples,collects relevant data,and uses statasoftware to do empirical analysis to test theoretical analysis. Using72high-techenterprises listed in SEMS stock market from2007to2010as samples,this articlemainly makes the emprirical analysis from three aspects:first,R&D intensity is used tobe the main indicator,it makes sub-annual、sub-sector、sub-scale descriptive statisticalanalysis.Second,this part makes a priori assumpation,establishes models and definesthe variables,it analyzes the effects of technologhical innovation by means of taxincentives and government subsidies,and compares with the incentive effects of thetwo policy instruments.third, based on the above analysis,it futherly analyzes andcompare with the effects of turnover tax incentive and income taxincentive.Finally,from the results we can know that, the results of sub-annual、sub-sector、sub-scale descriptive statistical analysis show that the macro-level effectsof tax incentives for high-tech enterprises’ technological innovation are not fullyapparent because of the financial crsisi,in addition,the results of the regressionanalysis tell us that,compared to government subsidies,tax incentives make a greatereffectiveness in incenting enterprises’ technological innovation activities,andcompared to the turnover tax incentives,income tax incentives have a greater incentiveeffect of technological innovation. In the last part of the paper,it points out some problems in current tax incentives of technological innovation and proposes somerelevant suggestion according to emppircal analysis.