Research On The Impact Of Environmental Protection Tax On Enterprise Technological Innovation

The report of the 20th National Congress of the Communist Party of China mentioned: "We must firmly establish and practice the concept that green waters and green mountains are golden mountains and silver mountains,and plan and develop from the perspective of harmonious coexistence between man and nature." "We must resolutely implement the deployment and requirements of the 20th National Congress of the Communist Party of China,promote green development,promote harmonious coexistence between man and nature,and jointly write a better future." The proposition of green development emphasizes that the practice of "environmental protection" in economic development is very critical,and the tax policies related to "environmental protection" have always been a hot topic of discussion among scholars at home and abroad.In 2018,China’s Environmental Protection Tax Law was officially implemented.Since then,the popularity of research related to green taxation has only increased in academia.Technological innovation is an effective way to promote the development of enterprises while taking into account environmental protection.Therefore,on this basis,studying the impact of environmental protection tax on enterprise technological innovation is of great significance to further promote enterprise technological innovation.This thesis is based on this research.First,this thesis introduces the theoretical basis of environmental protection tax and technological innovation: the "Pigou tax" theory,the double dividend hypothesis and the Porter hypothesis.The impact mechanism of environmental protection tax on enterprise technological innovation is further analyzed,including the crowding out effect and compensation effect.Secondly,summarize the development process of China’s environmental protection tax,including three stages,the determination and trial stage of the pollution discharge fee system,the adjustment and optimization stage of the pollution discharge fee system,and the establishment and implementation of the environmental protection tax;The implementation status of environmental protection tax is summarized and summarized,and the implementation status is discussed from the three perspectives of tax system,collection and management and revenue,and the current situation of enterprise technological innovation is analyzed.Then,taking the panel data of Shanghai and Shenzhen A-share listed enterprises from2016 to 2020 as a sample,the impact of the implementation of environmental protection tax policy on enterprise technological innovation is empirically analyzed.Through the parallel trend test,the double difference model is determined.The benchmark regression results show that environmental protection tax promotes the technological innovation of heavily polluting enterprises,and the effect is significant.In the heterogeneity analysis,this thesis regressed the samples according to the nature of enterprise property rights,the region and the size of the scale,and found that when the targets were non-state-owned enterprises,enterprises in the eastern region and enterprises with a scale above the average,environmental protection tax showed a significant positive impact,while the target was state-owned enterprises,enterprises in the central and western regions and enterprises with a scale below the mean,but did not show a significant positive impact.In order to further ensure the rationality of the empirical results,the robustness test of the experimental data was carried out,and two methods were adopted: replacement index and placebo test.In the way that the core is interpreted variable indicators,it is still found that the experimental results are consistent with before the replacement.In the placebo test,assuming that the policy time was advanced by one year,the results were not significant,which further indicates that the improvement of enterprise technological innovation was due to the implementation of the environmental protection tax policy in 2018.Finally,based on the empirical results and qualitative analysis above,this thesis puts forward the following suggestions: First,improve the environmental protection tax system.Further broaden the scope of taxation,include the main pollution factors such as optical pollution into the scope of taxation,increase the emphasis on volatile organic compounds,and accurately connect with the pilot collection of volatile organic compounds.Increase the standard for taxing garbage,and broaden the taxable subject from enterprises to households;To improve the preferential tax policy,it is recommended to further refine the existing preferential levy rate and increase the credit rate for the existing investment in special environmental protection equipment.Second,deepen the market-oriented reform of state-owned enterprises.Give private capital more opportunities to enter various industrial fields,lower the entry threshold,let it have the opportunity to participate in the high-end industrial chain,compete with the fields laid out by state-owned enterprises,and publicly release projects related to the mixed ownership reform of state-owned enterprises,reasonably establish and improve the dual mechanism for the entry and exit of non-state-owned capital,and improve the speed and efficiency of the mixed ownership reform of state-owned enterprises by borrowing from non-state-owned capital.Third,implement differentiated tax policies.Targeted tax policies should be given to smaller enterprises and those located in the central and western regions.Through pre-tax deductions and exemptions,enterprises that actively carry out R&D and innovation will be rewarded,reducing the burden of environment-friendly taxpayers,and promoting enterprises to closely follow the policy orientation of innovation,so as to improve the overall level of innovation.Fourth,improve relevant supporting measures.The government needs to achieve sustainability in environmental protection tax policies.Establish the thinking of the rule of law,promote the coordinated promotion and operation of all links of legislation,law enforcement,judicial and legal supervision,and improve the relevant systems of technology patents.