Research On The Influence Of Tax Return On Innovation Ability Of High-tech Enterprises

The development of high-tech enterprises affects the development of China’s future science and technology,and determines whether China can achieve the relevant goals.Compared with advanced western countries,China’s high-tech enterprises have developed slowly and started low.High-tech enterprises have the characteristics of high investment,high risk and high returns.Because of their own conditions,they cannot rely on market guidance to promote innovation.The government needs subsidies.For tax returns,enterprises can supplement corporate cash flow,improve business efficiency and competitiveness.For the government,tax returns can support the industry and help local governments attract investment and promote local economic development.This paper will study the impact of tax rebates on the innovation capabilities of high-tech enterprises.First of all,this paper introduces the current research background and research significance,and expounds the necessity,innovation and inadequacies of this article.The second part of this paper elaborates on the related concepts of tax return and high-tech enterprises.The non-exclusiveness of innovation activities,externalities and the uncertainty of innovation results determine the need for government intervention in corporate innovation activities.The third part of this paper studies the current status of tax rebates in China,especially the status quo of high-tech enterprises receiving tax returns.In addition,it describes the factors that affect the company’s tax return,such as the size of the enterprise,the ability of the enterprise to innovate,and the level of government finance.Through the analysis of the status quo,it is observed that there are certain problems in China’s tax return policy,such as the lack of legal basis and very complicated tax return policy.The fourth part of this paper is an empirical analysis of tax return and the innovation ability of high-tech enterprises.This paper selects high-tech enterprises listed on A-shares from 2011 to 2016 as samples,and uses patent application number,tax return,R&D investment,enterprise scale,asset-liability ratio and other related indicators to analyze the data with STATA14.0 software.The results show that tax rebate can significantly improve the innovation ability of China’s high-tech enterprises.In addition,the impact of tax rebates on the innovation capacity of non-state-owned high-tech enterprises is more significant than that of state-owned enterprises.This paper also compares high-tech enterprises in the central,western,and eastern regions,and finds that tax rebates have a more significant impact on the innovation capabilities of enterprises in the eastern and central regions.Finally,the paper makes recommendations based on the empirical results.In the future,the government can further improve the tax return policy,highlight the guiding role of tax rebates;improve the transparency of the tax return system;increase support for high-tech enterprises in the East and Central China and non-state-owned high-tech enterprises,and improve the fairness of the tax return system.