Research On The Impact Of The New Policy Of Additional Deduction Of R&D Expenses On The Performance Of Manufacturing Enterprise

Innovation is an important driving force for the development and prosperity of a country,and also a key factor for the sustainable development of an enterprise.In the14 th Five-Year Plan and 2035 Vision outline,it is emphasized that innovation should play a driving role,accelerate the development of a modern industrial system,accelerate the building of a strong manufacturing and quality country,and improve the competitiveness of the manufacturing sector.However,due to the sudden outbreak of the global novel coronavirus at the end of 2019,the entire macroeconomic environment has been affected,causing a certain impact on the production and operation of enterprises.The risk of innovation,coupled with the sudden onset of the pandemic,will affect the R&D innovation of enterprises.The risk of innovation,coupled with the sudden onset of the pandemic,will affect the R&D innovation of enterprises.In this context,the state has introduced a new policy of more preferential research and development expenses deduction.Can the implementation of the new policy effectively guide enterprises to actively invest in research and development activities so as to restore the vitality of the main body of the market economy? Based on this,the impact of the New Deal on Chinese manufacturing enterprises will be deducted from the research and development expenses.This paper selects a listed company in the manufacturing industry,takes its data from the third quarter of 2018 to 2022 as the research sample,and uses the method of horizontal and vertical comparative analysis.The impact of the New policy on the company is analyzed comprehensively from the aspects of the additional deduction policy on the income tax of Zhonghuan shares Corporation,the amount that can be deducted in advance,research and development funds,input of research and development personnel,patent application,internal independent research and development of intangible assets output and enterprise performance.Based on the case analysis of Zhonghuan shares,this paper found that even under the circumstances of the epidemic and the unfavorable macro environment for the development of enterprises,the new policy of more preferential measures issued by the state can still encourage enterprises to increase R&D investment,which is conducive to optimizing the structure of R&D personnel structure of enterprises,and at the same time,increasing R&D investment by enterprises is conducive to the improvement of product quality and the reduction of production costs,thereby improving the competitiveness of products,improving the profitability,operating ability,solvency and development ability of enterprises,and conducive to the improvement of enterprise performance.Through case analysis,this paper mainly draws the following enlightenments:(1)More preferential policies can often lead enterprises to a certain extent,so the country should issue more preferential policies to guide and assist enterprises when the macroeconomic environment is depressed.(2)An enterprise should do its research and development according to its capacity.Research and development should be carried out on the basis that the enterprise has enough funds to meet its normal production and operation and cope with emergency problems.(3)Research and development is a continuous process.If an enterprise wants to grow bigger and stronger,it needs to continuously adhere to research and development,rather than just using policies as a means of "tax planning".(4)The R&D activities of an enterprise should be carried out around its core main business.