Research On The Impact Of Tax Burden On The Growth Of Technology-based SMEs

The report of the 20 th National Congress of the Communist Party of China proposed that enterprises should strengthen their leading role in scientific and technological innovation,give full play to the leading and supporting role of technology-based backbone enterprises,create a good environment conducive to the growth of technology-based SMEs,and promote the deep integration of innovation chain,industrial chain,capital chain and talent chain.This paper focuses on the report of the 20 th National Congress of the Communist Party of China and studies the impact of tax burden on the growth of technology-based SMEs.To explore how the existing tax environment affects the growth of technology-based SMEs and the mechanism of the impact of tax burden on their growth,and to create a good tax environment conducive to the growth of technology-based SMEs.This paper first combs and reviews the domestic and foreign literature on enterprise tax burden,enterprise growth and the relationship between them.According to the four basic theories of externality,pecking order financing,enterprise growth and cash flow effect,this paper points out the mechanism of enterprise tax burden affecting enterprise growth from three aspects of enterprise profitability,enterprise solvency and enterprise development ability.Then it elaborates the definition of technology-based SMEs,selects 388 sample enterprises from the listed companies on the New Third Board,calculates the growth score of enterprises with the help of spss software,and analyzes the overall growth of technology-based SMEs with the help of this indicator.Then,the sample data is used to analyze the growth of technology-based SMEs from three aspects: profitability,solvency and development ability.On the basis of sorting out the relevant tax policies of technology-based SMEs,the problems of existing tax preferences are pointed out,and the current situation of the tax burden of technology-based SMEs is analyzed.Based on the above theoretical analysis and practical investigation,this paper uses the above sample enterprises to conduct empirical analysis with the help of stata software.The explanatory variable is the calculated enterprise growth score,and the explanatory variable is the enterprise comprehensive tax burden,the turnover tax burden,and the enterprise income tax burden.The two-way fixed effect regression is made for the established model,and on this basis,the heterogeneity analysis is carried out for technology-based SMEs in different sectors.According to the empirical regression results,this paper draws the following conclusions: there is a significant negative correlation between the comprehensive tax burden of enterprises and the growth of technology-based SMEs;The turnover tax burden,enterprise income tax burden and the growth of technology-based SMEs are different in the degree of correlation.The turnover tax burden will significantly inhibit the growth of technology-based SMEs,while the enterprise income tax burden is positively correlated with the growth of technology-based SMEs to a certain extent.The results of the heterogeneity study show that the tax burden has a stronger inhibitory effect on the growth of the software and information technology services industry than the manufacturing industry.Based on the above research conclusions,this paper puts forward targeted suggestions from three aspects of enterprise profitability,solvency and development ability to promote the growth of technology-based SMEs.