Research On The Impact Of Enterprise Income Tax Preferential On The Investment In Technological Innovation Of China's Manufacturing Enterprises

After China's economic development has entered a new normal,it has been more difficult for the real economy to grow,and the problem of“big but not strong”in manufacturing has become increasingly prominent.In order to break through this predicament,we must realize the transformation and upgrading of the manufacturing industry and enhance the independent innovation capability of China's manufacturing enterprises.As an important means for governments to regulate macroeconomics and promote economic development,taxation policies can promote enterprises to carry out technological innovation activities.In order to support technological innovation in manufacturing enterprises,the government has continuously introduced relevant tax incentives which mainly emphasize on corporate income tax.Based on the theoretical analysis,this paper studies the impact of China's corporate income tax preferential policies on the technological innovation investment of manufacturing enterprises from the perspective of capital investment in the framework of China's corporate income tax preferential policies.This paper first expounds the relevant theory of the rationality of technological innovation tax preferential policies,and demonstrates the mechanism of the impact of tax preferential policies on enterprise technology innovation investment,and sorts out China's enterprise income tax preferential policies for industrial enterprises' technological innovation investment.Second,based on the empirical analysis of listed manufacturing industry companies in Shanghai and Shenzhen main board markets,we can find that China's corporate income tax preferential policies have a significant positive impact on the technological innovation investment of manufacturing enterprises.At the same time,the sub-sample regression is used to verify the positive promotion effect of high-tech enterprise tax rate concessions and additional deductions on the technological innovation investment of manufacturing enterprises.Finally,based on the empirical conclusions,combined with the problems existing in China's corporate income tax preferential policies,the paper puts forward some suggestions for optimizing the enterprise income tax preferential policies for promoting the increase of technological innovation investment by manufacturing enterprises,including five aspects:adjusting the high-tech enterprise identification standards;improving the research and development expenses adding deduction policy;improving the accelerated depreciation policy for fixed assets;optimizing the technology transfer income tax reduction policy;improving tax preferential management and service levels.