Research On Tax Preferential Policies To Promote Enterprise R&D

The progress of science and technology and R&D innovation capability has become the core source of the driving force of world economic growth.In order to promote the transformation of the current economic old and new kinetic energy and achieve high-quality development,it is necessary to continuously improve China’s independent R&D capability.In order to encourage and guide enterprises to actively carry out R&D activities,China has issued many tax preferential policies to promote enterprise R&D.In November 2015,CS[2015] No.119 notice on improving the pre tax addition and Deduction Policy of research and development expenses was issued,marking the further improvement of preferential tax policies for enterprise R&D.From January 1,2021,the proportion of R&D expenses plus deduction of manufacturing enterprises will be increased to 100%(CS [2021] No.13).So can the implementation of preferential tax policies encourage enterprises to increase R&D? This thesis will explain the theoretical basis and mechanism of tax preferential policies to promote enterprise R&D,combined with the current situation and problems of enterprise R&D and enterprise R&D tax preferential policies,empirically analyze whether the tax preferential policies can achieve the effect of encouraging R&D,and combined with the actual situation of our country,refer to the successful experience of other countries,and put forward tentative suggestions for improving the tax incentive policies to promote enterprise R&D in our country.Firstly,this thesis analyzes the relevant theories of tax preferential policies to promote enterprise R&D.after introducing the relevant concepts of enterprise R&D and tax preferential policies,this thesis discusses the theoretical basis of enterprise R&D tax preferential policies from three aspects: technological innovation theory,public goods externality theory and government intervention theory.Then,combined with economic theory,this thesis analyzes the mechanism of tax preferential policies promoting enterprise R&D from three angles.Secondly,in order to make the research content of preferential tax policies for promoting enterprise R&D more complete and systematic,this thesis combs the historical evolution of preferential tax policies for promoting enterprise R&D in China,and points out some problems existing in preferential tax policies for enterprise R&D in China.The problems of preferential tax policies for enterprise R&D include: low level of policies and laws,contradiction between preferential structure and tax system structure,insufficient support for R&D and innovation of small and medium-sized enterprises,strict conditions of preferential tax policies,limited tax incentives for human capital investment and so on.In addition,in order to quantitatively analyze the effect of enterprise R&D tax preferential policies,after data screening,this thesis finally selects a total of 9700 balanced panel data of 1940 A-share listed enterprises,including both high-tech enterprises and non high-tech enterprises,from 2016 to 2020,to study the impact of tax preferential policies on Enterprise R&D activities.This thesis makes an empirical analysis on the effect of preferential tax policies on Enterprise R&D from the perspectives of R&D investment and R&D output.The research finds that: first,tax incentives can significantly improve the R&D investment and R&D output of enterprises;Second,enterprise asset scale,asset liability ratio,age,operating gross profit margin and return on net assets also have a significant impact on Enterprise R&D.Third,through the further analysis of high-tech enterprises and non-high-tech enterprises,it shows that the incentive effect of tax preference of non-high-tech enterprises on R&D investment is better than that of high-tech enterprises,and the incentive effect of tax preference of high-tech enterprises on R&D output is better than that of non-high-tech enterprises.Finally,the robustness test supports the previous test results.Thirdly,in order to provide a more comprehensive reference for the subsequent adjustment and formulation of enterprise R&D tax preferential policies,this thesis makes a comparative analysis of enterprise R&D tax preferential policies in developed and developing countries,and summarizes the experience that can be used for reference: first,pay attention to the preferential methods of pre tax deduction and tax credit;Second,pay attention to the role of small and medium-sized enterprises in R&D;Third,pay attention to the encouragement and cultivation of talents;Fourth,attach importance to the combination of industry,University and research.Finally,according to the current problems,the results of empirical research and analysis and the reference from foreign experience,this thesis puts forward specific countermeasures and supporting measures to improve the preferential tax policies for enterprise R&D.the specific countermeasures and suggestions mainly include: first,improve the legal level,second,change from income tax preference to both income tax and turnover tax preference,and third,set special preferential provisions for small and medium-sized enterprises,Fourth,relax the conditions for enjoying relevant preferential tax policies.Fifth,strengthen the incentive of preferential tax policies for R&D talents;Supporting measures include: first,encouraging cooperation between enterprises and scientific research institutions;second,improving the intellectual property protection and use system;third,establishing a policy supervision system and evaluation mechanism;fourth,strengthening policy publicity.