Research On The Impact Of Tax&Fee Reduction On The High-quality Development Of Manufacturing Small And Medium-sized Enterprises

Tax reduction and fee reduction is a policy measure adopted by the government in recent years to accelerate supply side reform,promote the healthy and sustainable development of the macro economy,and promote the transformation and upgrading of the economic structure.It is also one of the powerful tools to maintain the stable growth of the domestic economy and release the economic vitality of enterprises in the case of the spread of the industrial epidemic in 2020.Small and medium-sized manufacturing enterprises are an important implementation object of this policy.This paper makes an empirical study on the impact of the high-quality development of small and mediumsized manufacturing enterprises.This paper introduces in detail the relevant background,research status,main concepts and basic theories of tax reduction and fee reduction and high-quality development of small and medium-sized manufacturing enterprises,and carries out the basic relationship research hypothesis,intermediary effect hypothesis and heterogeneity research hypothesis.The basic relationship assumptions include tax reduction and fee reduction and high-quality development of manufacturing enterprises,tax reduction and fee reduction and technology R&D investment,technology R&D investment and high-quality development of enterprises;The heterogeneity hypothesis includes three aspects:enterprise property right characteristics,regional characteristics and technological characteristics;In the hypothesis of intermediary effect,the investment of enterprise technology R&D is taken as the intermediary variable.In terms of data sample selection,2464 pieces of panel data of 352 manufacturing SMEs from 2015 to 2021 are selected to construct a multiple linear regression model of panel data.There are 4 explanatory variables:innovation driven,structural optimization,performance growth and factor utilization.The explanatory variables are the total tax burden of enterprises.At the end of the paper,the research situation of the whole paper is summarized,five policy implications are put forward,and the business trend and research mode of reducing production and cost and high-quality development of manufacturing enterprises in the future are preliminarily prospected.The main conclusions of this paper are as follows:first,tax reduction and fee reduction are conducive to the high-quality development of manufacturing enterprises,which are reflected in four aspects:innovation driven,structural optimization,benefit growth and factor utilization.The corresponding partial regression coefficients are:-0.396,-0.097,-0.075 and-0.107 respectively,and the innovation driven aspect is the most positively affected.At the present stage,the tax reduction and fee reduction in the high-quality development of manufacturing enterprises are mainly concentrated in the short term,marked by the growth of new product sales income,and have not reached an all-round and deep-seated level;Second,in the process of the impact of tax reduction and fee reduction on the high-quality development of enterprises,there are heterogeneity in property rights,regional characteristics and technology category characteristics.Third,in the process of reducing taxes and fees to promote the highquality development of manufacturing enterprises,the investment in technology research and development played a significant intermediary role.The corresponding proportions of the four indicators of innovation driven,structural optimization,benefit growth and factor utilization were 43.4%,26.8%,22.7% and 10.2% respectively.