A Research On The Impact Of Tax Policy To Enterprise R&D Investment

“Science and technology is the base of national greatness,innovation is the soul of national progress”,nowadays,science and technology has innovated the development of human society with an irresistible force.Under the background of popular business innovation,the enterprise has become a principal part of R&D investment.In recent years,the proportion of national enterprise R&D investment has become bigger and bigger every year in the total input of R&D.No matter what kind of business an enterprise specialized in or which development stage it is in,science and technology innovation is always the driving force of their survival and development.Unfortunately,because of the publicity,surplus and risky characteristics of enterprise research,the private benefits was always less than the social benefits,which would restrict the enthusiasm of enterprises continue with R&D investment.Therefore,China introduced a series of tax policies to encourage enterprises to carry out research and development,encourage enterprises to innovation,the incentive effect of tax policy to the enterprise R&D activities and therefore become the common focus of enterprise and government.In this paper,the research on the effects of R&D tax incentives also is in this context.In this paper,the author combined the theoretical analysis and empirical analysis,to analysis the effect of two tax incentive for high-tech enterprise in our country.First of all,review and summarize the existing research theories domestic and overseas,and lay a foundation for the research of this paper.Secondly,analysis the effect of tax policy for enterprise R&D investment,and discusses enterprise R&D investment mechanism,the characteristics of enterprise R&D activity and the influence principle of tax incentives to the enterprise's R&D investment respectively.Thirdly,make the hypothesis and build the regression model,dispose the panel data of 41 listed high-tech enterprises by Eviews6.0 software.The empirical result show that,the research and development expenses for the additional deduction amount is significantly greater than the elastic preferential elasticity 15% of the amount of high-tech enterprises preferential tax rates,which claim additional deduction R&D policy incentives elasticity is 0.56,but the high-tech enterprise 15% income tax preferential policy incentive elasticity is only 0.03.Finally,by drawing lessons from foreign advanced experience,combined with the conclusion of previous analysis,propose suggestions to consummate the current R&D tax incentive policy system.In terms of the current R&D tax incentive policy system in our country: firstly,change the direction of tax preferential.Transform direct preferential to indirect preferential.Secondly,enrich current tax preferential.Formulated a series of targeted tax incentive policy flexibility,and the enterprise can apply for tax preferential according to their management situation.Thirdly,intensify the effect of current tax incentives.Extend the fixed number of year of R&D investment carried backward;intensify tax deduction and exemption;strengthen the support of human resource capital.Fourthly,set more preferential policies for small and medium size high-tech enterprises.Distinguish the special tax incentives to the small and medium size high-tech enterprises;approve the small and medium size high-tech enterprise to set up R&D capital reserves;encourage small and medium-sized high-tech enterprises to cooperate with colleges and universities,scientific research institution;implement capital allowances policy for small and medium size high-tech enterprises.Fifthly,strengthen the management of tax preferential policies.Encourage the enterprise to understand and use the tax incentives;supervise enterprise to register and examination and approval their R&D investment;regulate the identify and management of high-tech enterprise.