Research On The Effect Of Tax Policy On The Development Of China’s New Energy Industry

Since the Industrial Revolution,with the rapid development of the global economy,the consumption of traditional fossil fuels has increased sharply,resulting in a continuous increase in carbon dioxide emissions and an increasingly prominent greenhouse effect,accelerating the process of global warming.Compared to traditional fossil fuels,new energy sources such as photovoltaics and wind power are favored by more and more countries for their clean,efficient,and sustainable characteristics.In order to vigorously develop the new energy industry,China has introduced a series of industrial support policies,including financial,tax,and financial policies.Among them,tax policies,as an important means for the government to regulate the macroeconomy,play a positive role in compensating for market defects,guiding industrial upgrading,and promoting high-quality economic development.A thorough study of the impact of government tax policies on the new energy industry can provide a reference direction for the rational optimization of tax policies.Firstly,based on the analysis of research by domestic and foreign scholars,this article defines the concepts and meanings of the new energy industry and tax policies.It explains the necessity of optimizing tax policies to help the development of the new energy industry based on externalities theory,sustainable development theory,and industry life cycle theory,and analyzes the role mechanisms of turnover tax and income tax on industrial development,respectively.Secondly,this article analyzes the current problems of the development of the new energy industry,sorts out China’s tax support policies in the field of new energy,evaluates them,and analyzes the problems existing in tax support policies.Thirdly,using the fixed-effect individual regression model,this thesis takes the financial data of 164 listed companies in the new energy concept sector from 2016 to 2021 as samples,and uses empirical methods to analyze the impact of total tax burden,turnover tax,and income tax on corporate operating income,exploring the impact of tax policies on the development of China’s new energy enterprises.The empirical research shows that: firstly,tax support policies have a significant incentive effect on the development of the new energy industry as a whole;secondly,the incentive effect of turnover tax support policies on new energy companies is stronger than that of income tax support policies;thirdly,for new energy companies with different property rights and geographical regions,the role of tax policies differs.Finally,combined with the problems faced by the development of the new energy industry and the results of empirical analysis,this article puts forward specific optimization measures and suggestions from three aspects:turnover tax policy,other tax policies,and supporting measures,including adjusting the turnover tax rate and tax scope,improving the recognition of urban land use tax,timely levying carbon tax,and optimizing the business environment,etc.