Research On The Impact Of Tax Cuts And Fee Reductions On The Innovation Performance Of Pharmaceutical Manufacturing Enterprises

Improving the ability of scientific and technological innovation is the key to achieving high-quality economic development.The innovation vitality of the majority of market entities has continued to increase.It played an important role in standing up to the economic downward pressure,supporting employment,and promoting the accelerated growth of new kinetic energy.The tax policy is a powerful means to promote the deep integration of scientific and technological innovation and the deeper integration of the real economy and drive innovation-driven development.In recent years,the tax cuts and fee reductions has continued to tilt towards the manufacturing industry,and continues to make efforts in supporting enterprise scientific and technological innovation and traditional industrial transformation and upgrading.Against the backdrop of frequent national pharmaceutical reform policies and the influx of nonpharmaceutical enterprises,the competition in the pharmaceutical manufacturing industry is fierce and the industry situation is becoming increasingly complex.Traditional pharmaceutical enterprises,facing problems such as weak revenue growth,urgently need to choose a track suitable for their own development and achieve transformation and upgrading.In this context,in accordance with the new policies and measures,the selection of innovative performance indicators to explore the impact of tax reduction policy on the innovation of pharmaceutical manufacturing enterprises has profound practical significance.This article first summarizes the study of tax cuts and fee reductions,innovative performance,and the relationship between tax cuts and fee reductions and innovation performance,and make research reviews.Then,the analysis explained the impact mechanism between tax cuts and fee reductions and innovative performance,as well as the introduction of the innovation and development of the pharmaceutical manufacturing industry and the relevant policies of tax cuts and fee reductions,and laid the foundation for the following case research.Secondly,this article starts with the pharmaceutical manufacturing industry,and selects micro-specific enterprises to study the relationship between tax cuts and fee reductions and case enterprises innovative performance.In the case analysis,this article first elaborates the basic situation,tax burden,and innovation level of Jiuzhitang,and then analyze paths from the perspective of funds guarantee,and adopts comparative analysis method and entropy value method for comprehensive analysis of tax cuts and fee reductions.The impact of performance,and summarized Jiuzhitang’s innovative performance issues based on analysis,and put forward some feasible suggestions.Finally,it is concluded that the tax cuts and fee reductions has a certain positive incentive effect on Jiuzhitang’s innovative performance.Among them,the incentive effect of innovative investment is significant,However,tax cuts and fee reductions has a weak incentive effect on Jiuzhitang’s innovation efficiency and innovation output in the short term.From the perspective of tax division,before 2019,the preferential super-deduction ratio of R&D expenses has a greater impact on the innovation performance of Jiuzhitang.In 2019 and after,the impact of the preferential impact of the VAT rate on Jiuzhitang’s innovative performance is stronger than that of the deduction policy discount.From the perspective of the influence mechanism,the tax cuts and fee reductions has a role in enhancing the guarantee of funds and increasing the expected income of the enterprise.After tax cuts and fee reductions,Jiuzhitang’s innovation performance has some shortcomings and can be optimized:there is still room for improvement in R&D input,and the effect of innovation output and innovation efficiency is not good.Finally,it is proposed from the government level: the government should strengthen the incentive effect of tax cuts and fee reductions on innovation input,output and efficiency.Suggestions are put forward from the enterprise level: actively strive for tax incentives to increase innovation input,strengthen production-university-research cooperation to accelerate innovation output and improve innovation efficiency through talent incentive.