Research On The Effect Of Tax Policy Of Accelerating Depreciation Of Fixed Assets

When the economy of China is becoming into New Normal,the state government has adopted lots of control policies,to encourage the transformation of old and new dynamics,to upgrade the industrial structure,and to enhance the quality of economic growth.Investment,as one of the three carriages that boost economic growth,has been slightly weaker since 2008.Especially,the lower growth rate of investment in equipment and industrial equipment will greatly affect the economy of China in the future.In this context,at the beginning of 2014,China has gradually modified some tax policies;one of them is to accelerate the depreciation of fixed assets.Two key documents have been introduced to the public.According to them,enterprises from six plus four key industries benefit from delaying tax payment.Also,micro-enterprises and R & D investment benefit from this new change.This new change has been implemented for three years so far.And whether it is useful to stimulate investment,or to encourage R&D? This is what this article is intend to find out.After the introduction of this new change,domestic scholars have also evaluated the effect of it,but there is not many empirical analysis.This article,on the one hand,through the questionnaire survey,combined with the data from SAT internal system,implement an assessment and analysis of this new change of depreciation of assets in one district.On the other hand,using the relevant data of listed companies from 2014 to 2016,the paper analyzes whether the accelerated depreciation tax policy of fixed assets is useful to enhance investment,especially R & D.The conclusion is that the change of depreciation policy has a stimulating effect on the investment of fixed assets,but there is no evidence that enterprises from the six plus four industries have been affected dramatically.For enhancing R & D investment,there is no reliable evidence that the policy has played a positive role.Based on the conclusion,and also learning from foreign developed countries,this paper puts forward some suggestions on the current policy of accelerating depreciation of fixed assets in China.It is proposed to strengthen policy,to cooperate with other policies and so on.