The Pretax Additional Deduction (PAD) policy is an effective instrument to encourage an enterprise for increasing its R&D investment and improving the capability and capacity of independent innovation. Since the policy is enacted in the middle of 1990's, it has experienced three development stages: establishment, development, and improvement. Many detailed rules have also been continually expanded and extended, such as the domain of discounting bodies, the scope of R&D activities, the R&D expenses, the backward discounting of the R&D expense, the rational allocation of Group's R&D expenses, etc. And then a multi-level policy system has been basically formed. The basis of the policy has involved in both the theoretical and empirical level. In the light of poor performance in practice, the main factors influencing the effectiveness of this policy are analyzed on the basis of questionnaire survey and some suggestions are put forward at last.
Key words
R&D expense /
research and development activity /
tax incentives for R&D /
PAD policy
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