Empirical Research On The R&D Innovation Incentive Effect Of Corporate Income Tax Relief

At present,the Chinese economy has become the main driving force of world economic growth,and the international rankings of major economic and social indicators have significantly improved.However,as the demographic dividend advantage gradually weakens,natural resources and ecological environment are increasingly restricted,the traditional industrialization model supported by cheap factors is no longer sustainable,and the development of the national economy urgently needs to change from factor-driven,investment-driven to R&D and innovation-driven.The report of the Nineteenth National Congress of the Communist Party of China emphasized the need to transform the economic development model,implement the innovation-driven development strategy,and strengthen the construction of an innovative country.However,under the background of economic globalization,the international division of labor has become more clear,which has led Chinese enterprises to rely on foreign core technologies and development models to form a path,resulting in weak innovation capabilities and insufficient motivation.As an important means for taxation to regulate the economy,corporate income tax has contributed greatly to the promotion of corporate R&D and innovation.Through this visible hand,on the one hand,it guides the investment and financing direction of the enterprise,on the other hand,it promotes the enterprise to adjust the operation direction in a timely manner,so that the enterprise can be more efficient and reasonable in terms of resource allocation and resource utilization,and promote the economy.From the perspective of tax regulation,the implementation of corporate income tax relief policies has a greater impact on corporate R&D investment,which further affects corporate R&D output.Based on this,the focus of this study is to explore the incentive effect of corporate income tax relief on R&D innovation,scientifically evaluate the actual effect of corporate income tax relief on promoting R&D innovation activities,and on this basis,explore how the government should adjust corporate income tax relief policies to achieve better expected results in enterprise R&D and innovation activities.Specifically,this article first provides an intuitive factual description for targeted research and analysis through indicators such as the proportion of R&D investment and the rate of patent industrialization.Secondly,in the empirical part,using the Chinese industrial enterprise database and Chinese Industrial Enterprise Patent Database to analyze the correlation between the actual corporate income tax rate and R&D innovation,and then with the help of the exogenous event of corporate income tax reform in 2006,selected domestic enterprises that were not affected by the policy as the treatment group,selected foreign companies as the control group,then using empirical analysis methods such as double difference and triple difference to exclude the endogenous cause-and-effect interference of the incentive effect of income tax relief R&D innovation,and accurately identified the causal relationship between corporate income tax relief and corporate R&D innovation,and analyzed the difference between corporate income tax relief and corporate R&D innovation of different sizes and industries at the provincial and municipal levels,and analyzed the mechanism behind it,further broadened the scope of research in this area,and improved the effectiveness and accuracy of empirical analysis.Empirical analysis results show that corporate income tax relief has a significant promotion effect on corporate R&D and innovation activities;from the perspective of subdivided industries and enterprise size,corporate income tax relief has a more obvious promotion effect on high-tech enterprises and large enterprises;It is concluded that the incentive effect of R&D innovation for corporate income tax relief is mainly achieved through the channel of reducing corporate financing constraints.Finally,based on the conclusions of empirical analysis,drawing on the advanced experience of adopting the GSP principle of corporate income tax relief abroad,adopting special tax relief policies for SMEs,innovating corporate income tax relief policy tools,and introducing deferred income tax policies,this paper proposes that corporate income tax relief should be expanded scope of policy,preferential policies for small and medium-sized enterprises,strengthening inclusive incentives in research and development,and improving the efficiency of policy implementation and follow-up management.By analyzing the incentive effect of R&D innovation on corporate income tax relief,this article provides suggestions for the formulation and improvement of corporate income tax relief policies in the future,and also provides ideas and methods for subsequent related research.