Research On The Incentive Effect Of Tax Preferential Policies On Science And Technology Innovation

"Accelerating the construction of an innovative country" is the current national strategic goal,which highlights the enhancement of scientific and technological innovation capabilities,strengthens the subject status of enterprise’s innovation,promotes our country’s economic development and advances the science and technology.The scientific and technological innovation achievements of enterprises have externalities,which need the guidance and support of government policies.As a public policy in the macroeconomic field,taxation policies have been widely applied by various countries because of their wide application scope,strong regulatory ability and excellent incentive effect.China has also formulated and promulgated many preferencial tax policies to encourage technological innovation.This paper studies the incentive effect of China’s tax incentive on enterprises’ science and technology innovation,and provides reference for the optimal allocation of resources and the formulation of macro tax policies,which has certain theoretical and practical significance.This paper analyzes the mechanism of tax incentives for enterprises’ scientific and technological innovation,the current situation and shortcomings of taxation policies,and uses the sample data of listed companies on GEM to conduct regression analysis.Moreover,this paper studies the correlation between tax incentives and the investment of innovative funds,R&D personnel investment and patent grants.The correlation between the indicators of science and technology innovations leads to the following conclusions:(1)Tax incentives can not only enhance the enthusiasm of R&D funds and manpower investment,but also help to improve the enterprises’ innovation output.(2)Compared with VAT,the incentive effect of preferential income tax policy is stronger;(3)The bigger the company is,the bigger the investment in innovation funds is;(4)State-owned enterprises pay more attention to R&D investment than private enterprises.The types of property rights of enterprises will affect the incentive effect of tax incentives on enterprise innovation,and the incentive effect is better for state-owned enterprises;(5)The higher the technology content,the better the incentive effect of tax incentive policy;(6)The more R&D investment,the more the output of innovation results.Based on the theoretical analysis and empirical results,this paper has proposed suggestions of perfecting our country’s innovation preferential tax policies:(1)Government should improve the stability of tax preferential policies;(2)Government should mobilize innovation enthusiasm of small and medium-sized enterprises;(3)The tax incentives for cultivating innovative talents should be strengthened;(4)The direct preferential should be transited to indirect preferential;(5)The form of innovative tax incentives should be rationalized.