Research On The Impact Of Fiscal And Tax Policies On The Development Of New Energy Vehicle Industry

Developing the new energy vehicle industry is an important strategy to address the contradiction between fuel supply and demand and environmental pollution issues,as well as an important choice for the sustainable development of China’s automobile industry,which can help achieve carbon peak and carbon neutrality.Since the beginning of this century,new energy vehicles,one of the strategic emerging industries,have become a key development target.With the support of national policies,they have moved from the stage of technological research and development to the stage of market-oriented promotion.Their production and sales have ranked first in the world for eight consecutive years,and the national fiscal and tax support policies have achieved good results.However,there are still problems in the current development,such as the backward construction of supporting infrastructure,the safety factor of vehicles and the power capacity of batteries still need to be improved.At the same time,there are also some problems in the implementation process of financial and tax policy support.For example,some enterprises are too dependent on national financial subsidies,so in the face of the current reality of the gradual decline of subsidies,in the post subsidy era,how to better assist enterprises in transition and adjustment is particularly important.In order to better assist the market promotion of the new energy vehicle industry,it is worth paying attention to how the country subsequently adjusts its financial and tax policies.Based on the current situation,this article will focus on studying: what impact financial subsidies and tax incentives have on the development of the new energy vehicle industry;How are the effects of the two policies different;The impact of fiscal and tax policies on new energy vehicle enterprises is more significant for state-owned enterprises and non-state enterprises;How to further optimize fiscal and tax policies to promote industrial development.Firstly,this article clarifies the relevant concepts of new energy vehicles and relevant theories of fiscal and tax policies to support industrial development,and expounds the impact mechanisms of financial subsidies,tax incentives,and government procurement on the new energy vehicle industry;Secondly,it sorts out the current situation of industrial development from different levels,and summarizes relevant fiscal and tax policies;After that,the research hypothesis of this article is proposed.Based on the selected sample data of 149 A-share listed new energy vehicle companies from 2013 to 2021,an empirical test is conducted to analyze the impact of fiscal and tax policies on the development of the new energy vehicle industry from two perspectives: research and development investment and business performance.The following conclusions are drawn:First,financial subsidies and tax incentives can significantly increase the research and development investment and business performance of new energy vehicle companies;Secondly,the promotion effect of tax incentives on industrial R&D investment and business performance is greater than that of financial subsidies;Thirdly,the incentive effect of fiscal and tax policies on R&D investment of non-state new energy vehicle enterprises is greater than that of state-owned enterprises;Financial subsidies have a more significant impact on the operational performance of state-owned new energy vehicle enterprises,while tax incentives have a more significant impact on the operational performance of non-state new energy vehicle enterprises.Based on theoretical and empirical analysis,this article proposes the following reference suggestions aimed at better promoting the healthy development of the new energy vehicle industry and helping to achieve carbon peak and carbon neutral goals,including: formulating fiscal and tax policies for the new energy vehicle industry;Improving the financial subsidy policy;Optimizing the structure of tax preferential policies;Improving supporting measures and supporting fiscal and tax preferential policies;Improve the government procurement mechanism.