An Analysis Of The Impact Of Income Tax Preferential Policy On The Performance Of Small And Medium-sized Enterprises

At present,small and medium-sized enterprises(SMEs)occupy the dominant position in China's market economy.Statistics in 2018 show that the proportion of small and medium-sized enterprises in China has reached 99% of the total number of enterprises in China.Small and medium-sized enterprises provide nearly half of the country's tax revenue,more than 60% of GDP and more than 80% of urban employment.In addition,more than 80% of new product development,more than 60% of patents and more than 75% of technological innovation in China are accomplished by SMEs.Therefore,they not only play a leading role in the market economy,but also play an important role in promoting industrial development.However,small and medium-sized enterprises are naturally at a disadvantage when they compete for the market because of their "small,dirty,messy and poor" characteristics.In order to improve this situation,and to help small and medium-sized enterprises develop better and faster,the relevant departments of our government have issued a series of preferential tax policies successively.As a tool of macro-control of national economy,preferential tax policy not only brings preferential tax to small and medium-sized enterprises in China,but also plays a certain role in regulating the development of market economy.Obviously,due to the mechanism of tax preference,the formulation and implementation of tax preferential policies by government departments can relieve the pressure faced by SMEs in the competitive market to a certain extent.Whether the implementation of these preferential tax policies can have a relevant impact on the performance of enterprises and how much impact it has is a question worthy of our study.On the basis of relevant literature,this paper uses the method of combining theory with practice to analyze the impact of tax incentives on the performance of SMEs.The previous part is the theoretical basis.Firstly,it defines the concepts of SMEs,tax incentives and corporate performance,and briefly summarizes and combs the characteristics of SMEs and the problems they face,the theoretical analysis of tax incentives on corporate performance and the status quo of corporate income tax incentives.The latter part is the empirical analysis.By selecting 209 listed companies whose SMEs plate code is 002701-002943 from 2015 to 2017 as the research sample,13 financial indicators such as total net asset interest rate,net sales interest rate and gross sales interest rate related to enterprise performance are selected.Through factor analysis,the performance,profit,development,capital operation and debt repayment of SMEs are obtained.Secondly,taking the comprehensive indicators of SMEs' performance,profitability,development,capital operation and solvency as explanatory variables,the preferential intensity of income tax as explanatory variable,and the scale of enterprises and the proportion of shareholdings as control variables,using SPSS software to carry out descriptive statistical analysis,correlation analysis and regression analysis of relevant indicators.Finally,the following conclusions are drawn: the preferential tax policies formulated and implemented by the government can promote the performance of small and medium-sized enterprises,and the greater the intensity of tax preferences,the faster the performance of enterprises will be improved.At the same time,the preferential tax policies will promote the profitability,development,capital operation and debt-paying ability of enterprises.According to the theoretical analysis and the empirical results of the income,this paper puts forward some relevant suggestions for improving the tax preferential policies of small and medium-sized enterprises.