Research On The Influence Of Preferential Policies Of Enterprise Income Tax On R&D Investment Of Specialized And Sophisticated Enterprises That Produce New And Unique Products

R&D is the core link of enterprise innovation and development.China vigorously supports enterprise R&D,and has issued various tax policies for each link of R&D activities to help enterprises accelerate the pace of seizing the commanding heights of science and technology.Compared with other enterprises,the "small giant" enterprises with specialized technology focus on market segmentation,strong innovation ability,high market share,mastering key core technologies,and excellent quality and efficiency,which means that they have higher requirements for research and development activities and pay more attention to research and development investment.Based on this,the current corporate income tax preferential policy is an in-depth study of the policy effect value of such enterprises.In order to explore the impact of corporate income tax preferential policies on R&D investment from the perspective of specialized "small giant" enterprises,and improve the tax policy system more pertinently and scientifically,this paper selects the data of 116 specialized "small giant" listed enterprises from 2017 to 2021,and uses a two-way fixed effect model to conduct an empirical analysis of the effect between corporate income tax preferential policies and R&D investment,And further carry out heterogeneity analysis according to the industry classification of Made in China 2025.The following research conclusions have been formed:(1)The preferential policy of corporate income tax can significantly promote the R&D investment of specialized and special new "small giant" enterprises.This is reflected in the reduction of the corporate income tax burden and the promotion of the R&D investment by the R&D expense deduction policy.(2)The preferential policies of corporate income tax have different promotion effects on different industries: the reduction of corporate income tax has the greatest impact on energy conservation and new energy industries;The addition and deduction of research and development costs has a significant positive impact on the new generation of information technology industry,energy saving and new energy vehicles,new materials,biomedicine and high-performance medical devices,and has a greater impact on the new generation of information technology industry.According to the previous theoretical and empirical research,the following suggestions are given:(1)increase the preferential policies of corporate income tax;(2)Optimize the R&D expense deduction policy;(3)We will improve relevant supporting policies and strengthen inter-departmental cooperation.