Research On The Relationship Between Tax Incentives And Development Capacity Of New Energy Vehicle Enterprises

In the era of electrification and intelligence,the development of new energy vehicles is the only way for China to move from a major automobile country to an automobile power;With the strong support of China’s relevant policies,new energy vehicles have developed rapidly,and production and sales have maintained the world’s first place for eight consecutive years;With the blessing of scientific and technological intelligence,the "electrification,networking,intelligence and sharing" of the new energy automobile industry is reshaping the new pattern of the automotive industry.The Notice on the Financial Subsidy Policy for the Promotion and Application of New Energy Vehicles in2022 points out that financial subsidies will no longer be provided for new energy vehicles,and in this context,the state will focus more on using tax incentives to reduce the cost of new energy vehicle enterprises,stimulate enterprise R&D and innovation,and enhance the core competitiveness of enterprises.The preferential tax policy is conducive to promoting the development and innovation of new energy vehicle enterprises,and the state has introduced many preferential tax policies to encourage the development of new energy vehicle enterprises,such as the Notice on Collecting Consumption Tax on Batteries and Coatings,which points out that the consumption tax on lithium primary batteries and fuel cells required for new energy vehicles is exempted;In order to support the consumption of new energy vehicles and continue to implement the R&D expense super-deduction policy,according to the "Announcement on Further Improving the Pretax Super-deduction Policy for R&D Expenses",the R&D expenses of new energy vehicle manufacturers can enjoy 100% pre-tax super-deduction,and various preferential tax policies have an important impact on the development ability of new energy vehicle enterprises.In order to better study the relationship between tax incentives and development capabilities of new energy vehicle enterprises in China,based on literature review,relevant concepts and theoretical analysis,this paper analyzes the development ability of high-quality representative enterprises and the relevant tax preferential policies applicable to new energy vehicle enterprises,including value-added tax,enterprise income tax,etc.,based on literature review,related concepts and theoretical analysis,and evaluates the preferential tax policies.The financial data of the development capacity of new energy vehicle listed enterprises were collected and sorted,and the principal component analysis method was used to construct a comprehensive score of the financial index to evaluate the development ability of new energy vehicle enterprises,and the innovation output index was added to measure the development ability of enterprises.A propensity score matching model was constructed to analyze the difference between the experimental group enjoying tax incentives and the control group not enjoying tax incentives,and the results showed that tax incentives had a significant promoting effect on enterprises’ financial indicators and may have a inhibitory effect on innovation output.The results show that there is a threshold value for income tax incentives and turnover tax incentives on the financial indicators of development capacity,and the impact on innovation output can only stimulate the innovation output ability of enterprises when the combination of turnover tax incentives and income tax preferential policies is less enjoyed.Based on the current situation analysis and empirical research,the following three conclusions are drawn: first,tax incentives have strong support for the development of new energy vehicle enterprises;Second,tax incentives play a significant role in stimulating enterprises’ development capabilities;Third,there is a threshold for the impact of tax incentives on development capacity.In view of the problems and shortcomings found in the research,the following four suggestions are put forward: first,tax incentives should follow the development law of the new energy vehicle market;Second,formulate preferential tax policies with targeted new energy vehicles;Third,promote the legalization of preferential tax policies for new energy vehicles;Fourth,establish a dynamic adjustment mechanism and feedback mechanism for preferential tax policies.