1、1Research on Tax Preference Policy of Venture CapitalAbstract. In the last few decades， the economy increased rapidly， but the rapid growth is at the cost of high consumption of resources and high pollution of environment. It is imperative to transform the economic growth pattern. Tax policy relatin
2、g to venture capital is very important to build innovative country and encourage the development of venture capital. Based on the background， the paper researches the tax preference policy of venture capital in developed countries and in our country， and draws relevant conclusions. Keywords： venture
3、 capital， taxation， policy 1. Introduction In the last few decades， the economy in our country increased rapidly， which makes difference for world economy development. While the economy grows rapidly， there are many serious problems such as serious resource consumption， low utilization ratio of reso
4、urces and severe environment pollution. When the Ninth Five-Year Plan was formulated in the 1950s， and when the vision was established in 2010， realizing 2transformation of economic growth pattern from extensive pattern to intensive pattern has been proposed in our country. As the investment institu
5、tion innovation which supports entrepreneurship， venture capital plays and important role in promoting technical innovation and the development of innovative economy. In our country， no matter solving the bottleneck of resources and environment or improving competiveness of industries and products，
6、no matter optimizing and upgrading traditional industries or seizing strategic commanding point of high technology in the future， must dependent on independent innovation. But independent innovation cant be separated from venture capital. From the perspective of macro-economy development， the develo
7、pment of venture capital industry has important realistic significance for promoting adjustment of macro-economy structure， realizing transformation of economic growth pattern， practicing the view of scientific development which was proposed in the third Plenary Session and establishing innovative c
8、ountry which was proposed in the 17th CPC National Congress. 2. Promotion of Venture Capital for Economic Growth 2.1 Connotation and influencing factors of economic growth In macroeconomics， economic growth is defined as long-term 3increase of production and is generally measured by the increase of
9、GNP. The increase of GNP describes the amplification of general productivity in a country. The increase of per capita GNP means the improvement of material standard of living. S.Kuznets defined economic growth as follows. The economic growth of a country is the long-term rise of ability providing ec
10、onomic products， and the increasing capability is established on the basis of advanced technology and adjustment of the required institution and ideology. In general， Tax Policy Notification published by the government is like the spring rain for venture capital in our country. It has positive influ
11、ence and has promotion effect on venture capital in our country. Tax preference policy is formulated according to the stage of economic development and degree of venture capital development in our country， and promotes the development of venture capital with Chinese characteristics. Not all aspects
12、are considered， but it has great operability and is achieved by integrating various factors. 5. Enlightenment of Tax Preference Policies for Venture Capital in Developed Countries on Our Country From the experience of venture capital development in 4developed countries and regions， we can see that t
13、ax preference policies of venture capital are not invariant. With the development of national economy and venture capital， tax preference policies can be changed. Tax preference policies should be adjusted with the development of venture capital industry Venture capital is still in the starting stat
14、e in our country， and it needs to be stimulated by a series of tax preference policies. However， with the development of venture capital in our country， tax preference policy needs to be weakened gradually until venture capital is mature in our country and there is no need to be supported by the gov
15、ernment. Tax preference policy should have the features of dynamism and stage From the development tendency of venture capital in developed countries and regions， we can see that venture capital industries have two development directions. Firstly， venture capital industry transforms from special ind
16、ustry to common industry. Many countries develop venture capital in order to promote the overall competiveness. Venture capital is a modern financial service. It is produced to recover traditional financial services in the ear of knowledge economy. 5With the development of venture capital industry，
17、the nation will relax the regulation on venture capital industry. One is that the investment subject of venture capital becomes diversified. The other type is that venture capital industry tends to develop towards comprehensive financial service， and the operation fields extend from high-tech indust
18、ry to traditional industry and service industry. From 2001， Taiwan cancelled the restriction only allowing venture capital enterprise receiving 30% of capital to invest in traditional industries. Secondly， the tax preference policy of venture capital extends to all venture capital behaviors. But the intensity of tax preference is weaker than that in the initial stage of venture capital development， and the range tax preference is wider than that in the initial stage of venture capital development.
