Research On The Impact Of Tax Incentives On Enterprise Innovation

Innovation plays an increasingly important role in the process of social development.Throughout the world,all countries in the world regard the most cutting-edge technology and the most elite innovative talents as strategic investment targets,and develop enterprise innovation and mobilize capital innovation enthusiasm as an innovation strategy to enhance national competitiveness.Due to the immediate effectiveness and operability of tax incentives,tax incentives have always been a necessary means for developed countries to support and promote enterprise innovation.In recent years,in the critical period of China's transformation and upgrading stage,various tax incentives have emerged in an endless stream.The most important purpose is to promote the innovation and development of enterprises.Although China's economy is developing rapidly,compared with the difference between the support of developed countries in innovation and the stage of innovation,China's tax incentives are not so perfect and effective,and there are still some shortcomings.This paper first expounds the background and significance of the research,and proposes the method,content and framework of this paper.The relevant domestic and foreign literatures were also collated and summarized,and the latest achievements and shortcomings of relevant researches were found.Based on this,the conclusions were summarized.Further in the process of China's innovation tax incentives,this paper sorts out the status quo of China's innovation activities and existing innovation tax incentives,and finds that from the reality of China's enterprise innovation,the motivation and ability of Chinese enterprises to innovate Seriously inadequate,external forces are needed to stimulate intervention.On the other hand,at present,China's tax incentives for innovation mainly adopt three methods: tax concessions,tax rate concessions and accelerated depreciation.Then,after a multi-angle theoretical analysis,the corresponding characteristics and influences of these threetax incentives for innovation activities are expounded.This paper analyzes why tax incentives can affect enterprises to innovate,that is,the ways in which tax incentives affect enterprise innovation.On the basis of the above research,the case analysis was verified by selecting Haisun Pharmaceutical,and the conclusion of this paper was obtained.All in all,due to the current stage of social development and the constraints of real factors,the level of innovation of Chinese enterprises is relatively low compared with that of developed countries,and it is extremely mismatched with the demand of China to be driven by innovation to carry out new stage development.Therefore,tax incentives have a great impact on the company's innovation activities,and the government's tax incentives for innovative companies can greatly encourage enterprises to increase innovation activities.Based on the research on the theory of tax policy support for enterprise innovation and the relevant domestic and foreign practical experience,this paper has three aspects: the current state from the perspective of tax incentives,the way of preferential taxation,the impact on innovation,and the mechanism of innovation of tax incentives.Analytical research was carried out,and then the representative pharmaceutical company Hisun Pharmaceutical was selected as a case to further verify and expand the research.Finally,it is concluded that tax incentives have a positive and positive effect on corporate innovation.Tax incentives enhance the core competitiveness of enterprises by increasing R&D investment,thereby increasing innovation output and R&D team size.And the impact of tax incentives on corporate innovation is multi-dimensional,which effectively promotes enterprise innovation through channels such as risk reduction,improved expected returns,guaranteed capital chain and optimized personnel structure.However,in the research,it is also found that tax incentives also have problems such as unstable incentives and harsh incentive conditions.This paper also proposes corresponding constructive opinions to solve these problems.First of all,when formulating tax incentives for promoting innovation,the government should consider the stability of tax incentives to ensure that innovative projects can proceedsmoothly.Secondly,if the tax incentives obtained by enterprises can be correctly used in innovative projects to increase innovation results,supervision and evaluation mechanism should be established afterwards.Finally,there should be a relaxation of the threshold for unreasonable access in some existing policies.