Fiscal And Taxation Policies Research On The Development Of Venture Capital

Venture capital is the era of knowledge economy is a kind of special investment way, it sets the finance, innovation, science and technology, management, market integration, to promote technological innovation, promote the upgrading of the industrial structure has an important role in. Our country macro economy in the reform and open policy has experienced20years of rapid growth, economic growth in recent years show a certain level of slow, especially by the financial crisis, the European debt crisis, the positive development of venture capital to promote the development of high-tech industry, to promote China’s industrial structure adjustment and upgrade, the economy as a whole, inject new vigor, particularly urgent. China venture capital began in the nineteen eighties medium, by the end of2010,the record of venture capital enterprises has reached706.Looking at the countries venture capital development course, the policy support of the government have played an important role which can not be ignored. Loose taxation policy, fiscal support, perfect legal environment, smooth financing system, perfect exit channels, will be on the development of venture capital have a powerful role in promoting. The tax policy on venture capital industry influence is play a decisive role. Although this year China issued a series of supporting the development of venture capital investment tax policy, but in general the current fiscal and tax policy for venture capital still exists some problems, such as tax preferential way is single, incentive, fiscal expenditure policy of low efficiency, small volume and so on, can not be effectively promote the development of venture capital. Based on this, this article in venture capital finance and taxation policy as the research object, analyzes the specific measures of Finance and taxation policy and investment relationship, agreement China venture capital in exploration of fiscal and taxation support policy, to promote the benign development of venture capital in China has certain practical significance.This thesis uses qualitative analysis, quantitative analysis and other research methods, using external, expected value theory of economics, finance and tax policy for venture capital on economic relations, data analysis, comparison, policy suggestions on several aspects are studied.First, the introduction. A brief analysis of the research background and significance, cited research status at home and abroad, introduces the research methods and research contents. In second, summary of venture capital. Theoretical analysis on venture capital, including definition of economic characteristics, international development, and the development of our venture capital meaning, with emphasis on the analysis of fiscal and taxation policies to support the theoretical basis of venture investment. According to the external economic theory, analysis of the financial policy and the economic connection between venture investment, venture investment are put forward according to the marginal external benefit granting financial subsidies, the venture investment externality correction, realize venture investment capital supply and demand equilibrium; according to the expected value theory of economics, established the mathematical model, analysis of tax policy and entrepreneurship investment economics, reach respectively tax policy on venture, venture investment enterprises related effects.Third, Chinese venture capital and taxation policies analysis. Comprehensive analysis of venture capital in China and its related finance and tax policy status. Application of data comparison, the analysis of the development of our venture capital situation are introduced, including venture capital enterprise development present situation, and the gross investment and sources of venture capital, venture capital industry distribution, region distribution and other basic information; using similar methods, on China’s venture capital finance and taxation policy to review, and then on the support of venture capital fiscal policy, tax policy advantage and problem are analysed. The present developing venture capital of China finance and taxation policy there exist the following problems:fiscal policy, financial subsidy funds shortage, narrow coverage, pointing to the imprecise, support efficiency is not high, the government procurement industry guide strength weaker, policy tilts is not obvious, science and technology funds, small amount of unbalance of structure; tax policy for venture capital enterprises,, investors and venture enterprises preferential tax policies are some problems.Fourth, financial and taxation policy for venture capital international status and revelation. The use of comparative analysis, comparative study of The developed countries in Europe and America, burgeoning industrialized country and developing countries in support of venture capital finance and taxation policy, summed up the enlightenment to China:the development of venture capital needs to have the fiscal and taxation policy to follow, need to have the perfect capital market, the need to expand the source of funds, needs to have a wealth of market participants.Fifth, optimization of China’s venture capital tax policy system countermeasure. Put forward our country to develop venture capital tax policy system of perfect target, from two respects such as tax, finance and venture capital enterprises, venture investors, venture enterprise three angle, put forward to perfect China’s venture capital tax policy system of specific countermeasures:fiscal policy, optimize the government procurement, promotion, set up creates throws the guidance fund benefit loss allowance mechanism, introducing financial discount; tax policy for venture capital enterprises, investors, entrepreneurs, and other bodies respectively establish preferential tax policy.