Analysis Of The Incentive Effect Of Income Tax Preference On Enterprise Innovation

The report of the Nineteenth National Congress of the Communist Party of China further established the importance of innovation in leading social and economic development.President Xi also emphasized the need to persist in using innovation to drive development,vigorously cultivate innovative superior enterprises,and better the inherent advantages of innovation-driven development.Play it out.Therefore,China must strengthen technological innovation in order to promote the continuous development of science and technology to drive the national economy forward,without being at a disadvantage in the international arena.China's total investment in R & D expenditures in 2018 was 1967.79 billion yuan,and the intensity of R & D reached 2.19%,indicating that China's R & D strength is increasing.China has requested to enter the innovative country team in 2020 and shape an innovative country with Chinese characteristics.Enterprises are the main force of economic development.To improve the level of social innovation,we must pay attention to the scientific and technological innovation capabilities of enterprises.In recent years,China has adopted various fiscal and taxation policies to encourage the R & D process of enterprises and reduce the cost of innovation.Among them,tax incentives have the characteristics of directness and high transparency,and corporate income tax policies can more directly carry out the cost of R & D and innovation in enterprises.Preferential,preferential corporate income tax implemented for enterprises' scientific research activities,can reduce the overall tax burden of enterprises,and have a great incentive effect on R & D and innovation.After exploring similar issues at home and abroad,this article chooses to use both empirical analysis and theoretical methods for research.First,it analyzes the basis of corporate income tax and corporate innovation theory from a macro perspective,and explains the necessity of tax incentives for corporate innovation.At the same time,it combs the mechanism of the effect of corporate income tax preference on corporate R & D innovation,and explains how income tax preference affects corporate R & D.Secondly,reviewing the current status of China's corporate technological innovation and preferential income tax policies has found that China's R & D investment and R & D intensity are increasing year by year.R & D investment is at the forefront of the world,but the R & D intensity is still somewhat different.Then compare the preferential income tax policies of Chinese and foreign enterprises in R & D and innovation and find the tax differences between China and other countries,explore the problems of preferential income tax for innovative enterprises in China,and draw lessons from foreign comparisons.Finally,this paper selects the data of 221 companies listed on GEM from 2012 to 2018 for R & D investment analysis,using the logarithm of total R & D investment as the indicator of innovation investment,and the 203 companies listed on GEM from 2015 to 2018.The data is used as a sample for empirical research on R & D output,and the number of patent applications in the current period is used as the explanatory variable.According to the eastern and central and western regions,state-owned and non-state-owned,after descriptive statistics and related model tests,the final regression analysis concludes that the income tax incentives positively promote enterprises to carry out scientific and technological innovation.Under preferential conditions,more enterprise innovation investment will be generated.The breakdown also found that the eastern region is more affected by the preferential corporate income tax rate than the central and western regions,and the non-state-owned enterprises are more affected by the preferential corporate income tax rate than the state-owned enterprises.There is a clear negative relationship between corporate income tax preference and corporate innovation output.When the income tax preference is smaller,the company's innovation output will increase.This may be due to the low conversion rate of scientific and technological achievements and the unwillingness of companies to apply Due to the imperfect patent or income tax preference system,the regression results show that the income tax preference has not passed the significance of the nature of the region and the enterprise,which shows that the impact of the income tax preference on the innovation output of the enterprise has no significant relationship with the nature of the region and the enterprise.