Financial And Tax Incentives And Enterprise Innovation

Scientific and technological innovation is the foundation of national prosperity,it is an important support to enhance China’s comprehensive national strength,but also the only way for China to realize the dream of great rejuvenation of the Chinese nation.In recent years,China has created an environment for enterprise innovation and promoted enterprises to become the main body of innovation.However,the relationship between the government and the market has been the focus of academic discussions,whether the Government’s support hand should exist?Should the government only do the role of "Night Watchman"?This paper focuses on the government’s R&D subsidies and tax incentives,through theoretical analysis and empirical testing,to verify the effectiveness of the two for enterprise innovation.This paper selects a strategic emerging industry with good development situation as a research sample,obtains the data of R&D subsidy from the annual accounting statements of enterprises,and,at the same time,calculates the specific value of tax preference by reference to the statutory tax rate.In order to better measure the innovation ability of enterprises,this paper selects the R&D cost of enterprises as the measurement index,the R&D cost directly provides financial support for innovation activities,and guarantees the smooth development of enterprise innovation activities;Secondly,this paper also selects the batch of patent application for enterprise,as another measure of enterprise innovation,The batch of patents is an important embodiment of the innovation results of enterprises.In addition,in order to further study the impact of the nature of enterprises on the government’s R&D subsidies and tax incentives,this paper carries out research on state-owned enterprises and non-state-owned enterprises,and refines the research on related policies.The empirical results of this paper show that for non-state-owned enterprises,the government’s R&D subsidies have significantly promoted the investment of Enterprise R&D costs,while promoting the increase in the volume of enterprise patents,but the government’s R&D subsidies have not effectively promoted the innovation of state-owned enterprises,which shows that R&D Because of its particularity,state-owned enterprises have the problems of soft budget constraint,entrustment-agency and multitasking,so the government’s support policy can not arouse its innovation motive force.In addition,the empirical results of this paper show that the innovation promotion of government tax preference is not significant,which may be because the tax preference is only in an afterthought,and in China’s tax structure,the proportion of commodity tax is larger,after the increase of the camp,the proportion of VAT increased,and the enterprise income tax has been a small proportion,in addition,Enterprise income tax is to tax the profit income of enterprises,when enterprises at the beginning of innovation or less profit,the preferential effect of this income tax is relatively limited,therefore,tax incentives can not stimulate the innovation vitality of enterprises.Finally,the conclusion of comprehensive theoretical analysis and empirical analysis,this paper puts forward relevant policy suggestions.Optimize the approval mechanism of R&D subsidy,in the process of project approval of R&D subsidy,we should combine the development prospect of related industries,market demand and the enterprise’s own financial situation and innovation ability,carry on the comprehensive evaluation,establish the use assessment system of R&D subsidy,the relevant departments pay attention,It is conducive to enterprises to use R&D subsidies carefully,to spend money on R&D activities,to enhance the utilization rate of funds,to formulate reasonable tax preferential policies,for enterprises carrying out innovative R&D activities,tax incentives can not only be limited to income tax concessions,but extended to more areas such as commodity taxes;The relationship between the tangible hand,the government’s intervention needs to have a certain degree,at the appropriate moment,should return to the role of "Night Watchman",by the market mechanism of the enterprise survival of the fittest,optimize the allocation of resources.