Research On The Incentive Effect And Optimizing Path Of Tax Preferential Policies For Technology-based SMEs In China

In the future,SMEs will generally shift to technology-based SMEs,but this does not mean that there will be no problem in the development of technology-based SMEs.Due to the characteristics of its own asset scale,technology-based SMEs are faced with the difficulties of investment and financing and short-term survival of enterprises.At the same time,because of their externality and technological characteristics,technology-based SMEs face many competitions.Tax incentives,as a means for the state to regulate and control the economy,can directly affect enterprises,and the mode of action can be to directly provide enterprises with preferential tax rates and taxes.Through such measures,the overall tax burden of enterprises can be reduced to achieve the purpose of supporting enterprise development.At the same time,tax incentives can also act on factors of production related to the production of enterprises,such as human capital,fixed assets,etc.,by not directly acting on the company,and the means of action include deductions,accelerated depreciation,and other means of reducing production.The cost of the elements to help the company develop.In recent years,the Chinese government has vigorously supported various types of enterprises that are conducive to the development of economic innovation and has issued relevant preferential tax policies.At present,these policies have achieved certain results,but there are also some problems that need to be further improved.This article studies the incentive effect of tax incentives for science and technology SMEs at the theoretical and empirical levels,analyzes the status quo and existing deficiencies,closely follows the current national policy orientation,and meets the current economic development situation.This paper firstly studies the mechanism of related policies.From the perspective of government intervention,it is effective for the government to formulate tax incentives to intervene in the development of science and technology SMEs.It is reflected in the incentives for enterprises to invest in financing,R&D,innovation and profitability activities..However,from the perspective of information asymmetry theory,tax incentives will have a positive and negative effect on companies.Therefore,the preferential taxation policy for science and technology SMEs needs careful development.In order to study the effectiveness of China's tax preferential policies in this area,this article draws lessons from previous experience and selects policies from various dimensions of the company's life cycle,time,and taxes.Further,theoretically,it concludes that there are five problems in China's tax incentives fortechnology-based SMEs.First,there are fewer preferential tax policies for technology-based SMEs;second,there are fewer preferential tax policies for the start-up period and the stabilization period;Third,there are fewer tax incentives for preferential tax incentives for technology-based SMEs.Fourth,preferential tax incentives for technology-based SMEs are relatively monotonous.Fifth,tax incentives for investment in technology-based SMEs are insufficient.Then selected the financial data of the technology-based SMEs listed on the GEM,which empirically tested the incentive effects of tax incentives on investment activities,financing activities,research investments,and profitability of SMEs.The results showed that the tax incentives were applied to technology-based SMEs.Scientific research investment and profitability have a significant incentive effect,but the incentive effect on investment and financing activities is not significant or even reverse incentive.In order to solve the problems theoretically and empirically,the paper proposes five suggestions based on the policy of drawing lessons from foreign mature policies: First,it can consider the application of preferential tax policies to small and medium-sized enterprises;It is to increase taxation preferential policies that can play a role in the initial period and the stabilization period;third is to improve the preferential tax types applicable to this type;fourth is to change the tax incentives;and the fifth is to optimize the tax incentives that have a strong influence on investment and financing.