Influence Of Tax Preference On Sustainable Development Of New Energy Enterprises

For a long time,the economic development of coal,oil and other energy has caused serious resource and environmental problems.Thus,accelerating the development of new energy industry and realizing the transformation from traditional energy to new energy is an inevitable trend under the background of "dual carbon".In pace with the fast development of Chinese new energy industry,a lot of problems have gradually appeared.As most new energy enterprises start late and are small in scale,they are often difficult to have strong competitiveness in market competition,especially in terms of financing and technology,and there is a problem of unbalanced development between industries and regions.As a means of economic regulation by the government,tax policy can play a compensation effect and guidance mechanism for the development of new energy enterprises,Therefore,it is meaningful to study the impact of tax incentives on the sustainable development of new energy enterprises.However,there is little literature research in this field at present,especially the comparative study of income tax preference and value-added tax preference on the differential impact of lasting development of new energy establishments.Under the above background,in order to study the differential impact of income tax preference and value-added tax preference on the sustainable development of new energy enterprises,this paper first constructs the transmission path of "tax preference-innovation ability,financial performance,social responsibility-enterprise sustainable development" through the summary and analysis of the relevant theoretical basis,and then puts forward the corresponding research hypothesis to clarify the empirical research goal.Then select the new energy enterprises listed in Shanghai and Shenzhen A shares in 2016-2021 as samples,establish multiple fixed panel data models,and use factor analysis to build an evaluation system of enterprises’ sustainable development ability,and then calculate the scores of each enterprise’s sustainable development ability,Through empirical multiple regression analysis and heterogeneity analysis,this paper compares and studies the difference in the impact of income tax preferences and value-added tax preferences and their different impacts on the sustainable development of enterprises in different property rights and different regions,and uses the method of changing the explained variables and random sampling to conduct a robustness test to verify the credibility of the empirical results.The empirical results show that:(1)income tax incentives and value-added tax incentives have a significant role in promoting the sustainable development of new energy enterprises;(2)Compared with the income tax preference,the value-added tax preference plays a greater role in promoting the sustainable development of new energy enterprises;(3)The relationship between preferential taxation and sustainable development of new energy enterprises is affected by the nature of enterprise property rights,that is,tax preference has a more significant impact on private enterprises;(4)The relationship between tax incentives and the sustainable development of new energy enterprises is affected by diverse regions where the enterprises are located,that is,the income tax incentives have a striking impact on the sustainable development of enterprises in the eastern and central and western regions,while the value-added tax incentives are only a significant positive correlation with significantly positively related to the sustainable development capacity of new energy enterprises in the eastern region,but not significantly related to the central and western regions.In terms of theoretical construction,this paper has created an evaluation index system of enterprises’ sustainable development ability from a new perspective,studied the impact path of tax incentives on the sustainable development of new energy enterprises from the perspectives of innovation,finance and social responsibility,expanded the comprehensive effect evaluation of tax incentives and related research in the field of new energy industry,and also deepened the economic effect of tax incentives.In terms of practical suggestions,this paper provides ideas for policy designers to formulate preferential tax policies that are more in line with the characteristics of new energy enterprises,and provides a reference for further optimizing China’s tax system structure.Finally,based on the research results,this paper proposes the related ways to deal with this situation,The following four points can be summarized: first,we need to increase the tax incentives for corporate income tax;Second,we should focus on optimizing the preferential effect of VAT;Third,implement preferential tax policies with differentiated property rights;Fourth,implement regional differentiated tax preferences.