Research On The Impact Of The Income Tax Reform On R & D

Corporate R&D activities are the basis of national technology innovation. As the economy continues to develop, China's corporates in technological innovation is playing an increasingly important role. Therefore, to create a favorable policy environment is an important and urgent mission to our government. In 2008, the implementation of the new corporate income tax law to reduce tax rates, accelerated depreciation, investment credits, losses up, cost deductions and other tax concessions as a means to further reduce the cost of R&D activities accelerate the R&D investment capital turnover and recycling, in the promotion of fair competition among corporates, have the more effective incentive to conduct R&D activities of corporates.On the basis of the review of domestic and foreign previous classical literatures and relevant theories, the article conducted a theoretical analysis, the corporate's R&D activities can increase the corporate value, but the characteristics of R&D activities decide that the corporate R&D investment is inadequate, and the government must take a series of macroeconomic measures to stimulate corporate R&D investment, while the income tax policy has become widely used by government regulatory policy. The resulting implementation of the new Chinese Corporate Income Tax Law will be able to stimulate business R&D activities. Then, this article uses empirical research methods, using multiple regression identified the R&D investment as the dependent variable, the actual tax burden for the self-variable regression model to the manufacturing sector in 2005-2008 listed companies as samples, testing the new Corporate Income Tax implementation of the law on corporate R&D incentive effect. Draw the following conclusions:the income tax reform for different industries have different incentive effects, petroleum, chemical, plastics, plastic manufacturing and machinery, equipment, instrument manufacturing R&D by the impact of tax reform has declined, medicine, bio-manufacturing subject to income tax reform, incentives, corporate R&D appeared to rise while the metal non-metal manufacturing is not obvious. Income tax policy on R&D incentive intensity of the need to further expand the sample over time, continued validation.