Research On Tax Policies To Promote Science And Technology-Based Small And Medium-Sized Enterprises

As a source of national technological innovation and a bridge for technological transformation,science and technology-based SMEs have great advantages over large enterprises in terms of innovation,providing China with nearly 80% of high-tech products and nearly 60% of patented technologies.It has become the backbone of technological innovation.However,China's science and technology-based SMEs have not yet played a prominent role in economic growth.The fundamental reason is that China's science and technology-based SMEs have difficulty in financing and expensive financing cannot be effectively resolved.The tax policy has a strong market-oriented characteristic,is less restricted by capital users,and has less impact on the market.Therefore,the use of taxation policies to actively explore and solve the measures and methods of financing problems for science and technological SMEs,and promote the healthy and orderly development of technological SMEs,should become an important means of solving the financing problems of science and technological SMEs today.This article uses a combination of theory and practice,a combination of qualitative and quantitative methods to discuss the effects of tax policies to promote the financing of science and technology SMEs,clarify the role of tax policies in promoting the financing of technology SMEs,and point out that the current tax policy exists Problems,suggestions and supporting measures to improve China's science and technology-based SME financing tax policies in different life cycles in a targeted manner.First,based on the relevant theories of science and technology-based SME financing,this article introduces the concepts of science and technology-based SMEs and financing,and systematically discusses the four aspects of MM theory,information asymmetry,financing priority order theory,and corporate financial growth theory.The relationship between taxation policies and the financing of science and technology-based SMEs,and in order to study the relationship between the two,a deeper analysis of the role of taxation policies in promoting the financing of science and technology-based SMEs,in order to fully discuss taxation policies to promote the financing of science and technology-based SMEs Theoretical basis.Then,analyze China's current taxation policies and existing problems to promote the financing of science and technology-based SMEs,mainly from the status quo,sort out the financing status of science and technology-based SMEs from the financing channels,financing scale,financing costs,etc.Research is carried out along the tax policy status and problems of promoting the financing of science and technology enterprises in the three main life cycles of start-up period,growth period and maturity period.Secondly,analyze the tax policy effects of the financing of science and technology SMEs in the start-up period,growth period,maturity period and the entire life cycle,select 139 enterprise samples from the comparison of the technology SME library and the New Third Board,and use multi-panel regression,To analyze the overall and different life cycle of corporate financing effects,and draw the final conclusion that the overall effect of tax policies on the financing of technology-based SMEs is significant,and the impact coefficients of tax preferences on financing intensity in different life cycles are different.The effect of tax incentives on long-term technology-based SMEs on financing intensity is greater than the initial and mature periods.Finally,aiming at the problems found in different life cycles,the tax policies for the financing of science and technology SMEs in each life cycle will be improved.The tax policy recommendations of the technology-based SMEs in the initial stage should be mainly reflected in three aspects: one is to encourage scientific and technological entrepreneurship,the other is the entrepreneurial platform,and the third is risk investment;the tax policy recommendations for the growing science and technology-based SMEs should be reflected in three Aspects: First,indirect tax incentives;second,the changes in scientific and technological achievements;third,scientific and technological innovation talents;the tax policy recommendations of mature SMEs should focus on three aspects: first,the continuity of tax policies,and second,the tax policies Systematically,the third is the tax policy to make up for losses.At the same time,it puts forward supporting measures such as financial policies,perfecting the relevant laws and regulations of technology-based SMEs,improving the credit mechanism of science and technology-based SMEs,and improving the multi-level capital market system,so as to build a complete and effective tax policy system for science and technology-based SMEs in China.