An Empirical Study On The Effect Of Tax Incentives On R&D Investment Of Coal Chemical Enterprises

With the accelerating pace of the transformation and upgrading of China’s energy structure,the strategic significance of the development of coal chemical industry for promoting the efficient utilization of resources and ensuring energy security has become increasingly prominent.Technological innovation is the key to promote the rapid transformation and upgrading of the coal chemical industry.As the premise of technological innovation,R&D investment is an important support to extend the industrial chain and broaden the industrial structure.However,the publicness,risk and spillover of research and development activities restrict the enthusiasm of R&D investment in coal chemical enterprises.In recent years,the state has issued a series of preferential tax policies to reduce the R&D investment cost of coal chemical enterprises.Therefore,it is particularly necessary to analyze the effect of tax incentives on the R&D investment of coal chemical enterprises and put forward corresponding suggestions.Based on the development status and problems of China’s new coal chemical industry,this paper takes listed coal chemical companies as research samples to empirically analyze the impact of related tax incentives on their R&D activities,and puts forward countermeasures and suggestions from the government and enterprises level according to the results of empirical analysis.First of all,the research status at home and abroad is analyzed,and the relevant theoretical basis of tax incentives to promote R&D investment in coal chemical enterprises is expounded.Secondly,the paper analyzes the current situation of R&D investment in coal chemical enterprises in China,and the influence mechanism of relevant tax incentives on R&D capital and personnel investment in coal chemical enterprises.Thirdly,the impact of VAT and additional preferential,enterprise income tax preferential,individual income tax preferential,environmental protection tax preferential,resource tax preferential on R&D capital and personnel investment of coal chemical enterprises is analyzed by empirical analysis.Taking the data of coal chemical listed companies from 2015 to 2019 as samples,SPSS and Stata software are used for empirical test.The results show that enterprise income tax,environmental protection tax and resource tax incentive promote the R&D investment of coal chemical enterprises.Value-added tax and other related preferential policies fail to stimulate the R&D investment of coal chemical enterprises.Individual income tax related preferential incentive coal chemical enterprises R&D personnel investment.Finally,combined with the empirical results and reason analysis,the corresponding countermeasures and suggestions are put forward from two levels of government and enterprise.The government side includes strengthening the precision of the implementation of R&D tax incentives;Establish the R&D tax budget,feedback,supervision of the trinity of supervision system;Increase the value added tax and additional preferential;Continue to improve corporate income tax incentives;Expand the preferential model of environmental protection tax;Standardize resource tax incentives;We will optimize the incentives for individual income tax.The enterprise aspect includes the establishment enterprise R&D tax system evaluation system;Actively carry out tax planning work;Establish enterprise R&D activity fund and so on.The research is not only helpful for the country to improve the current tax legal system of coal chemical enterprises,but also helpful for coal chemical enterprises to choose more suitable tax incentives in the process of production and operation.It has important theoretical value and practical significance for improving the enthusiasm of R&D investment of coal chemical enterprises.