Research On The Influence Of R&D Expense Deduction Policy On R&D Input Of High-tech Enterprises

The Party’s 20 National Congress report pointed out,"We must insist that science and technology are the first productive forces,that human resources are the first resources and advocating innovation is the initial driving force." At present,our country is in a critical period of "no great changes in a century".Enterprises,especially high-tech enterprises,are the main force promote scientific and technological innovation.Therefore,accelerating the transformation and modernization of high-tech enterprises,strengthening technological innovation and increasing the scientific and technological innovation capacity of high-tech enterprises are not only important steps to make China a great modern socialist country on all levels.The thorough implementation of an innovation-driven development strategy is also an important driver.It also encourages venture companies to pursue research and development and innovation,and promotes the development of basic research,and promote the equipment updating and technology upgrading of enterprises,the three departments jointly issued the Announcement on Strengthening the Pre-tax Deduction for Scientific and Technological Innovation in 2022.It is proposed that the new equipment and appliances purchased by high-tech enterprises are allowed to be deducted at one time and in full in accordance with the 100% additional deduction policy before tax when calculating the taxable income amount.So is there an obvious reaction of high-tech enterprises to the policy of additional deduction of R&D expenses? Does the policy of additional deduction of R&D expenses have a positive or negative impact on R&D investment of high-tech enterprises? Will it have the same impact on high-tech enterprises in different industries,different regions and different ownership properties? If the results are different,why?Based on the above questions.Based on the analysis of resource allocation theories,market failures and tax incentives,this paper proposes the research hypothesis part of this paper according to the action mechanism between policy and R&D input.This paper empirically analyzes the impact of R&D deductions on R&D investment by high-tech companies.Finally,dependenting the result of empirical analysis and the current situation of R&D expense deduction policy,and it’s a policy that responds to it.I made some Suggestions.First of all,In this study,we will gather and discuss domestic and foreign literature that scientifically defines the concept of additional deduction of R&D expenses and R&D investment,and makes a comprehensive and systematic analysis of the theoretical basis and mechanism of the impact of additional deduction policy on enterprises’ R&D investment.Secondly,it has integrated and carded the evolution process of Chinese research and development expense deductible policy,summarized the characteristics presented by policy change and summarized and analyzed the current situation of the policy.Thirdly,A panel data econometric model is constructed,and relevant financial data of A-share listed high-tech enterprises from 2017 to 2021 are selected to analyze how does the R&D credit affect the R&D investment of high-tech companies.And according to the high-tech enterprise industry differences,regional differences and ownership attributes of three aspects of the rich heterogeneity of the comparison.The benchmark regression results of the total samples show that deduct R&D costs has a certain promoting effect on the intensity of R&D input of high-tech enterprises.Looking at the software and information technology services industries by industry,strategic incentives subtracting R&D expenditure are most effective,this was followed by special equipment manufacturing industry and pharmaceutical industry.Spending on research and development in the computer,communications and other electronic equipment industries fared less well;The R&D investment of high-tech enterprises in the eastern and central regions is more stimulating than that in the western and northeastern regions.Split ownership,it is clear that state-owned enterprises play an encouraging role in R&D investment.Finally,according to the current situation of policy implementation,the empirical analysis results and the problems explored in the analysis process,the paper systematically puts forward the targeted suggestions to optimize the tax incentive effect.The first is to increase the intensity of preferential tax policies for high-tech enterprises;the second is to implement differentiated preferential tax policies for different industries;the third is to pilot different preferential tax policies for different regions;the fourth is to give preferential policies to state-owned high-tech enterprises;Fifth,accurately grasp the content and direction of research and development expense additional deduction policy;Sixth,we will intensify efforts to attract and train high-tech personnel.