研发费用加计扣除与中小企业发展能力——基于新三板的实证检验被引量：13

R&D Expenses Additional Deduction and Development Capacity of Small and Medium-sized Enterprises:An Empirical Test Based on the New Third Board

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摘要本文以2013-2018年新三板企业年度财务数据为研究样本,以2016年1月1日对负面清单之外的行业实行研发费用加计扣除改革为外生政策冲击,运用双重差分法及中介效应模型,实证检验了研发费用加计扣除政策对中小企业发展能力的影响机制及效应。研究发现:研发费用加计扣除可以显著增强中小企业的发展能力;研发费用加计扣除还可以通过增加现金流、减少企业债务规模对企业发展能力的增强产生间接效应;研发费用加计扣除对中小企业的创新却没有起到显著的促进作用,也不会通过企业创新对其发展能力的增强产生间接效应。在借鉴国际经验的基础上,应基于中小企业管理水平和能力,制定实施便于中小企业运用和操作的研发费用归集管理办法;对科技型中小企业试行亏损向前弥补的政策,经验成熟后推广到所有中小企业;实行中小企业研发费用税收抵免政策,更大程度上降低企业研发和经营中的资金压力;建立奖励创新产出的税收优惠,与研发费用加计扣除政策配套,形成对创新“双激励”的税收政策体系。 This paper empirically tests the influence mechanism and effect of the R&D expenses additional deduction on the development capacity of small and medium-sized enterprises by using the Difference-in-Difference(DID)and intermediary effect model.This paper takes the annual financial data of the New Third Board enterprises from 2013 to 2018 as the research sample,and takes the reform of R&D expenses additional deduction for industries not on the negative list on 1 January 2016 as the impact of exogenous policy.It is found that the R&D expenses additional deduction not only significantly enhances the development capacity of small and medium-sized enterprises,but also has an indirect effect on the enhancement of enterprise development ability by increasing cash flow and reducing the scale of enterprise debt.However,the R&D expenses additional deduction does not have a significant effect on the innovation of small and medium-sized enterprises,nor does it have an indirect effect on their development capacity through enterprise innovation.By referring to international experience,the paper puts forward relevant suggestions,including formulating and implementing the R&D expense collection and management measures that are suitable for small and medium-sized enterprises,applying the loss carry-back policy to small and medium-sized technology-based enterprises,implementing the R&D tax credit for small and medium-sized enterprises,and establishing the tax incentives of rewarding innovation output.

作者岳树民肖春明 YUE Shumin;XIAO Chunming

机构地区中国人民大学数字税收研究所山西财经大学财政与公共经济学院

出处《国际税收》 CSSCI 北大核心 2022年第6期10-24,共15页 International Taxation In China

基金国家社会科学基金重点项目“新发展阶段财税体制促进高质量发展研究”(项目编号:22AZD017)的阶段性研究成果。

关键词研发费用加计扣除中小企业发展能力 R&D expenses Additional deduction Small and medium-sized enterprises Development capacity

分类号 F810.42 [经济管理—财政学]