Research On The Incentive Effect Of Tax Preference On R&D Investment Of Chinese Enterprises

For small and medium-sized enterprises,especially science and technology small and medium-sized enterprises,it is necessary to give them policy support,vigorously promote innovation and mass entrepreneurship,cultivate new formats and technologies,promote the development of the main body,provide new impetus,so as to upgrade and transform the economy.In 2016,the General Administration of Taxation,the Ministry of Finance and the Ministry of Science and Technology jointly issued the Circular on the Issuance and Amendment of the Measures for the Recognition and Management of High-tech Enterprises and the Circular on the Revision and Issuance of the Guidelines for the Recognition and Management of High-tech Enterprises.Enterprises are the main body of national scientific and technological innovation.Research and development(R&D)has become an important factor to measure a country’s economic development.The typical characteristics of enterprises in R&D are long periodicity,high risk and externality.Therefore,enterprises are often cautious when making decisions related to R&D activities.It is precisely because of the unique attributes of R&D activities,with the development of recent years,the government has issued many incentive policies to promote enterprise R&D,such as preferential tax policies,government financial subsidies and so on.Under such a historical background,the study of the incentive effect of tax preferential policies on R&D of enterprises can provide some reference for the formulation and evaluation of tax policies,as well as for the future development of China’s high-tech industry and provide certain practical and theoretical significance for industrial innovation.Firstly,this paper elaborates the concept of research and development,the concept and definition of high-tech enterprises and their characteristics.Secondly,it deeply describes the relevant theoretical basis of tax preferential policies,the existing problems of current tax preferential policies in China and the current situation of R&D in China.In this paper,the author first reviews the relevant materials and makes progress in fiscal and taxation policies.Through theoretical analysis and specific consideration of their roles in R&D activities of enterprises,this paper lays a foundation for future research.At the same time,it uses empirical method to analyze them.In the process of analysis,it combines the previous experience,chooses relevant indicators such as government financial subsidies,overall tax burden,R&D intensityand enterprise scale,and specifically analyses the data panels of Listed Companies in this industry.In this paper,the data panels of Listed Companies in this industry are analyzed.After empirical analysis,we draw the following conclusions:(1)For enterprise R&D investment,financial subsidies and preferential tax policies given by the government can play an encouraging role.(2)Compared with the incentive effect of tax incentives,the incentive effect of fiscal subsidies is more direct and effective,and the direct distribution of corresponding funds and subsidies by government departments plays a more important role.According to the conclusions drawn in this paper,the following suggestions are put forward.(1)To further broaden the scope of identification of Companies in the field of high-tech industries,and to continue to support small and medium-sized enterprises,preferential tax policies should be given;(2)To enhance the awareness of independent innovation of enterprises,preferential efforts should be increased for R&D personnel;(3)To clarify the use of R&D subsidy funds,focusing on expanding the externality of R&D projects;(4)To carry out science and technology loan drums.Encourage banks to be willing to lend;(5)Steadily improve enterprises’ innovative and cooperative capabilities,correctly encourage investment in social funds;(6)Strengthen preferential treatment in turnover tax,and continue to give preferential treatment to income tax.