Study On The Effect Of R&D Tax Incentive Policy And Its Improvement

Since the financial crisis in 2008,China's economic growth has been weak.The basis of sustained and stable development depends mainly on investments,which arouses rise in economic risk probability,excess capacity,bad loans and real estate bubbles.Those areas with low degree of marketization,low-end industry and single structure would face economic downturn and increasing pressure.Relying on innovation to drive economic development is the only path of economic growth.Due to the positive externalities and high risks of scientific research activities,enterprises lack the enthusiasm to increase R&D investments.At the same time,due to the defects of the market regulation itself,it is particularly important that the government guides the company's R&D activities by issuing policies.The government guides the organization of innovative activities through direct financial subsidies and indirect R&D tax incentive policies.The R&D tax incentive policy can effectively avoid the disadvantages of government's direct subsidies for enterprises,which can have an obvious positive effect on increasing R&D investments of enterprises,and achieving industrial upgrading.Taking the enterprises in high-tech industrial parks as samples,this paper examines the effects of R&D tax incentive policies in China from 2011 to 2015.The first chapter analyzes legal source of R&D tax incentive policy.The current effective R&D tax incentive policies extend the scope of R&D activities,further expand the scope of R&D expenses plus and deduction,simplify the collection and accounting of R&D expenses,and reduce the audit procedures.The essence of the R&D tax incentive policy formulated by the State Administration of Taxation is the interpretation of the implementation of the tax laws,regulations and rules by the administrative organizations.It belongs to the internal administrative rules of the administrative organization and has the same binding force as the object to be interpreted in time and scope and is in line with the principle of law-based taxation.R&D tax incentive policies among countries are also compared in this article.The second chapter analyzes the current situation of R&D expenditure and the proportion of R&D expenditure in GDP and the increasing innovation ability.Taking the high-tech industrial park as an example,selecting the 2011-2015 data as a sample to test the effects of R&D tax incentive policies,this paper comes to the conclusion that enterprises in high-tech industrial parks have increased the investments of R&D funds,and the net profits and total revenue of enterprises in the park increased year by year.R&D investments were transferred into patents,especially the ability to invent patents that has been greatly improved,which attracts more high-quality and highly educated talents.In general,China's R&D tax incentive policies have played an important role in promoting enterprises in the park to increase R&D investments and enhance innovation ability.The third chapter puts forward some suggestions on R&D tax incentive policy.In the process of policy making and optimization,we need to strictly identify object of incentives,introduce the third party certification body,protect the taxpayer's right to know,right to claim the right to loss of profits and supervision,reasonably and clearly define R&D tax incentive policy requirements,introduce the principle of trust protection and proportion,improve the capacity to respond to tax law systems,make typical tax incentive policy for SMEs,enhance the scientific connotation of the policy and accelerate the implementation of technological innovation achievements.