Income Tax Preference,external Audit And Enterprise Technology Innovation

As an emerging industry of national development strategy,integrated circuit industry is an important foundation of national economy and social informatization.After decades of development,China’s integrated circuit industry,has been expanding its market share is gradually growing,now is in the crucial stage of industrial upgrading,but in the process,also exposed many problems,especially in the context of a trade war with China international,the overseas multinational implements technologies and products for the integrated circuit industry dual blockade,This fully highlights the overall scale of China’s integrated circuit industry is large but not strong,core technology and key components are subject to human problems.In the context of intensified international competition,China has issued a series of income tax incentives to promote the innovative development of IC industry.According to the existing research,the income tax incentive can stimulate the technological innovation of enterprises by reducing the r&d cost and risk.But at the same time,because it can greatly reduce tax,so that it can achieve the conditions of enjoying tax incentives,abuse of tax incentives,strategic research and innovation and other phenomena.What is the relationship between income tax preference and technological innovation for integrated circuit enterprises with higher requirements for technological innovation?When a series of rent-seeking and speculation behaviors occur in integrated circuit enterprises in order to avoid tax,what effect will external audit play as an important part of social supervision?In order to better verify the relationship between IC income tax preference and technological innovation,this paper introduces the external audit perspective to test.Firstly,the paper summarizes relevant research results at home and abroad,introduces the development and technological innovation status of China’s IC industry,summarizes the income tax preferential policies of IC enterprises in each link of the industrial chain,and summarizes the challenges faced by the IC industry and the shortcomings of the income tax preferential policies.Then,combined with relevant theories proposed by predecessors,hypotheses are put forward.Taking A-share IC listed companies in Shanghai and Shenzhen as the research object,panel data from2008 to 2020 are selected and stata15.0 metering software is used to carry out empirical research.The influence of IC industry difference,enterprise life cycle and legal environment on the relationship between income tax preference and enterprise technology innovation is further discussed.Finally,draw the conclusion of this paper and put forward relevant suggestions.The empirical results show that: first,income tax preference can promote the technological innovation of IC industry,and has the greatest incentive effect on IC design enterprises,followed by manufacturing industry,and packaging and testing industry.Second,external audit can effectively improve the incentive effect of income tax incentives on technological innovation,and it is more effective when enterprises are located in a better legal environment and mature stage.Third,the integrated circuit income tax preference has a greater incentive effect on design and packaging enterprises in the growth period,but it has a greater incentive effect on manufacturing enterprises in the maturity period.In view of this,this paper puts forward the following suggestions from policy makers,legal regulators,external audit institutions and enterprises themselves: first,expand the scope of income tax incentives to improve the continuity of policies;Second,strengthen legal construction,optimize social legal environment;Third,improve the quality of external audit,improve the governance and supervision system;Fourth,enterprises should strengthen their sense of self-discipline and enhance their ability to innovate core technologies.