Research On Incentive Effect Of Innovation Of The Policy Of Additional Deduction Of R&D Expenses In Pharmaceutical Enterprises

Since the reform and opening up,China's economy has been developing at a high speed.Innovation as the primary driving force for development,the government and enterprises have gradually realized its importance to China's development and taken a series of measures.Among them,the policy of additional deduction of R&D expenses is an important policy tool for the government to encourage enterprises to innovate and strengthen r&d.As a fertile ground for R&D activities,the government is expected to increase r&d investment by using r&d tax incentives to support r&d and innovation in the whole industry.Therefore,based on the economic theory,this paper analyzes the mechanism of tax incentives affecting enterprises' R&D input and output,takes 180 listed Chinese pharmaceutical manufacturing companies from 2015 to 2018 as samples,establishes a model based on panel data,and analyzes the impact of r&d expenses plus tax incentives on pharmaceutical enterprises' R&D input and innovation output.The results show that the r&d cost plus tax deduction has an incentive effect on the r&d input and output of pharmaceutical enterprises.Finally,Suggestions are put forward to optimize the preferential tax policies for enterprises,so as to stimulate enterprises' r&d investment behavior and improve their R&D innovation ability.