A Study On The Impact Of Fiscal And Taxation Policies On The Development Of China's IC Industry

As an important part of strategic emerging industries,the integrated circuit industry is crucial to the development of the electronic information industry,and it is also the guarantee of national information security.Since 2009,in the context of the recovery of the world economy,the market for consumer electronics,represented by smartphones and tablets,has expanded rapidly,and the demand for chips has also increased,which has driven the growth of the IC industry.However,due to the fact that China's IC industry is controlled by foreign enterprises in terms of core technology,China's information technology industry has been in the predicament of “lack of chip and screen” in recent years.In order to solve the development dilemma of integrated circuit industry,China has formulated a series of fiscal and tax incentives to promote the development of the integrated circuit industry.Up to now,these policies have been implemented for a long time,and it is of great significance to test their implementation effects.Therefore,this paper takes the fiscal and tax policies to promote the development of integrated circuit industry in China as the breakthrough point,The main contents of this paper are how the fiscal and taxation policies affect the development of the integrated circuit industry,comparison of the effects of fiscal and tax policies in the development of integrated circuit industry and comparison of the effects of fiscal and taxation policies on the development of different types of enterprises in the integrated circuit industry.This paper used researches that combine theoretical and empirical methods to study the fiscal and taxation policies that affect the development of the integrated circuit industry.Firstly,based on the relevant data,the paper analyzes the development status of China's integrated circuit industry,and then combs the current fiscal and taxation policies of China's integrated circuit industry and analyzes its existing problems.Secondly,based on the basic theory of fiscal and taxation policies affecting industrial development,this paper analyzed the specific mechanism of financial subsidies and tax incentives to promote industrial development.It is believed that the fiscal and taxation policies can correct the externalities of the integrated circuit industry,promote enterprises to carry on the research and development activities and affect the demand and supply of the industry by affecting the level of industrial investment and productcosts.Therefore,the theoretical analysis shows that fiscal and taxation policies have a positive effect on the development of the integrated circuit industry,this paper puts forward research hypotheses and constructs a measurement model of the impact of fiscal and taxation policies on the development of integrated circuit industry.Based on the panel data of China's IC industry listed companies from 2012 to 2016,this paper empirically tests the impact of fiscal and tax policies on the development of IC industry.The empirical results show that:(1)Both financial subsidies and Tax incentives can promote the development of IC industry;(2)Compared with financial subsidies,tax incentives can promote the development of IC industry more significantly;(3)The effect of fiscal and tax policies on IC manufacturing enterprises is less than that on design enterprises and packaging and testing enterprises.Finally,based on the theoretical and empirical analysis results of this paper,we put forward some suggestions.In terms of financial policy,firstly,we should increase the financial subsidy input in R&D to help IC enterprises achieve breakthroughs in key technologies;secondly,we should strengthen the supervision and management of financial subsidy to improve the efficiency of the use of subsidy funds;thirdly,we should establish government-led industrial funds and guide social capital to invest in IC industry.In terms of taxation policy,on the one hand,it is necessary to expand the scope of tax incentives and improve tax incentives;on the other hand,it is to establish and improve tax incentives for industrial talent training and promote the construction of integrated circuit industry talent teams.