| General Secretary Xi Jinping pointed out at the 19 th National Congress of the Communist Party of China that innovation is the primary driving force for development and the strategic support for building a modern economic system.With the outbreak of the new crown epidemic,people are paying more and more attention to the research and development innovation in the pharmaceutical manufacturing industry.The Chinese government has implemented a series of tax and fiscal policies of “reducing taxes and fees” to promote economic transformation,and the policy of deduction of R&D expenses is one of the key strategies to encourage enterprises to innovate in R&D.Since its implementation,through continuous deepening and improvement and increasing the ratio of super deduction,the impact on enterprise innovation has become greater and greater,and a good effect has been achieved in stimulating enterprise R&D innovation.The accounting and tax treatment methods used for the current R&D expenditures of enterprises are divided into super-deduction of revenue expenditure and super-deduction of amortization of capital expenditure in installments.For the purpose of tax saving or whitewashing of statements,most of the current R&D expenditures are expensed in actual work,or partially capitalized and partially expensed.The state has promulgated a super-deduction policy for R&D expenses to encourage manufacturing enterprises to invest in research and development,and has continuously increased the super-deduction ratio.Profits and losses can be deducted by 100% before the taxable income of the enterprise income tax is calculated,and if intangible assets are formed,200% of the pre-tax income can be amortized and deducted by installments.Different accounting and tax treatment methods of R&D expenditures by enterprises lead to different effects of the R&D expenditure deduction policy on the current income tax payable by the enterprise,which in turn has an impact on the innovation investment of the enterprise,and finally affects the innovation output of the enterprise.An in-depth study on the impact of the choice of R&D expenditure accounting and tax treatment methods on pharmaceutical manufacturing enterprises’ innovation performance.This article selects Fosun Pharma and Hengrui Pharma,which are at the forefront of R&D investment in my country’s pharmaceutical manufacturing industry,but choose different pharmaceutical manufacturing enterprises in terms of the tax and accounting treatment of R&D expenditures.First,we introduce the overall R&D innovation in the pharmaceutical production industry in the case analysis,analyze the impact of the R&D expense super deduction policy on the innovation performance of the two pharmaceutical manufacturing companies,and compare the impact of different R&D expenditure tax treatment methods on the corporate profit rate.and tax-saving effects.Then,the DEA-BCC model is used to calculate the impact of the R&D expenditure super deduction policy on the choice of different R&D expenditure tax and accounting treatment methods in the pharmaceutical manufacturing industry on the innovation performance of enterprises.Static and dynamic analysis of the impact of treatment options on innovation performance.Finally,considering the impact of different R&D expenditure tax and accounting treatment methods on the financial indicators and innovation performance of pharmaceutical manufacturing enterprises,it is concluded that the full cost of R&D expenditure will bring a good tax saving effect to the enterprise in the current period,but it will reduce the quality requirements of accounting information,the conditional capitalization of R&D expenditure has a better effect on the innovation performance of enterprises in the long run.It also pointed out that pharmaceutical manufacturing enterprises should strengthen the communication between corporate finance and R&D departments,improve the use of preferential tax policies,and capitalize R&D expenditures in a reasonable,timely,and compliant manner to better enjoy the tax reduction effect brought about by the deduction of R&D expenses.The quality of corporate accounting information.Combined with the current effect of the super deduction of R&D expenses,it is proposed that the government should expand the scope of collection of R&D expenditures,and expand the scope of policy inclusiveness and policy differences. |
