Research On The Impact Of Addition And Deduction Policy On The Business Performance Of Pharmaceutical Manufacturing Industry

Since the implementation of the addition and deduction of R&D expenses for enterprises in 1996,China has adjusted and improved this policy from time to time,trying to stimulate the R&D and innovation behavior of enterprises through this means,so as to improve the innovation level and ability of the country.As for the pharmaceutical manufacturing industry,with the implementation of the "healthy China" strategy proposed by the 19 th CPC National Congress and the further deepening of the reform of the medical and health system in 2020,the policy environment for the development of the pharmaceutical industry is further optimized.All pharmaceutical enterprises actively use the preferential policies for R&D to move towards the track of transformation from "manufacturing" to "intelligent manufacturing",and strive to improve the business performance level of enterprises.This thesis takes the impact of the plus and minus policy on the operating performance of the pharmaceutical manufacturing industry as the object,selects typical case companies,and takes the plus and minus proportion of the policy as the starting point to deeply analyze the effect of the policy.Firstly,this thesis discusses and analyzes the relevant theories,and analyzes the impact mechanism of the addition and Deduction Policy on the business performance from the perspectives of reducing R&D costs and internalizing the external benefits of R&D activities.Secondly,after clarifying the development process and trend of China’s R&D expense plus Deduction Policy,this thesis analyzes the current situation of the business performance of the pharmaceutical manufacturing industry under the plus Deduction Policy from the dimensions of R&D investment,patent application and business performance indicators,and finds that there are some problems,such as the level of R&D investment needs to be improved,the efficiency of innovation output is still insufficient,and the lag of the impact on business performance is strong.Thirdly,taking Hengrui Pharmaceutical Co.,Ltd.as an example,this thesis discusses the impact of the addition and Deduction Policy on the company’s operating performance.First,it introduces the general situation of the company and the application of the policy,then deeply analyzes the role of the policy from the three aspects of profitability,solvency and development ability,and adds non-financial indicators such as R&D investment,personnel investment and number of patents to the indicators of development ability.On the one hand,it specifies the positive impact of increasing the R&D plus deduction ratio from 50% to 75% on the business performance of the enterprise.On the other hand,it also reflects that the company may have tax risks in the process of policy application,insufficient attention of the management and high efficiency of policy application,And put forward improvement suggestions from the perspective of case companies: first,reasonably set up R&D expenditure subjects to weaken tax risk;Second,increase the investment of scientific research funds and improve the efficiency of innovation output;Third,strengthen talent training and introduction,and build an efficient R&D team;Fourth,strengthen management training and improve the awareness of rational use of policies;Fifth,broaden the field of innovation and promote the "internationalization" development strategy.Based on the analysis results,the following policy suggestions are put forward: in optimizing the R&D plus deduction policy system,we should expand the scope of cost collection and strengthen supervision and management;Combining "inclusive" with "preferential" to increase support;The additional deduction policy tries out the way of tax credit;In terms of effective implementation of policies,enterprises should increase R&D investment and promote technological innovation;Attach importance to R&D talents and increase the tilt;Standardize financial management and improve the efficiency of policy application.