Research of the fiscal and tax policies of High - tech industry in Northeast China

School of Public Finance and Administration, Harbin University of Commerce, Harbin, 1 Xuehai Street, 150000, PRC

Abstract

In recent years, the high-tech industry has become an important driving force for economic development, and it has become an important subject to study the fiscal and tax policies suitable for the development of local high-tech industry. This paper constructs a fixed-effects linear regression model with unbalanced panel data by selecting data related to high-tech industries listed in China in three northeastern provinces to empirically test the effects of fiscal subsidies and tax incentives on innovation inputs, outputs and economic benefits of enterprises. The result show that fiscal policies mainly motivate the development of high-tech industry R&D and innovation output, and the tax policies motivate the development of hightech industry R&D and economic benefit. The fiscal and tax policies have different effect to different enterprises, private enterprises will develop better than state-owned enterprises. To motivate the development of high-tech industry, government should formulate fiscal and tax programs according to the effects of fiscal and tax policies in different stages of the industrial chain, determine the leading methods, adjust the content of the existing fiscal and tax policies according to the characteristics of enterprises. The innovation point of this paper is to analyze the relationship between innovation R&D input, innovation output and revenue and fiscal policy related to high-tech industry from the perspective of complete industrial chain, and systematically compare the effect of existing fiscal policy and tax policy in three northeastern provinces, which provide a reference for future research related to the development of regional high-tech industry.