資產減值準備與股權結構對中國上市公司有效稅率之影響

The Effects of Provisions for Asset Impairments and Corporate Ownership Structure on the Effective Tax Rates of China's Listed Companies

陳明進(Ming-Chin Chen) ； 林怡伶(Yi-Ling Lin)

《會計審計論叢》 1卷2期 (2011/12) Pp. 27-55

https://doi.org/10.30142/RAAS.201112.0002

摘要

本文研究中國會計政策演變及租稅制度對於中國上市公司有效稅率之影響，實證結果發現中國上市公司樣本的平均有效稅率約為14.07％，遠低於本研究樣本期間的名目法定稅率30％，顯示整體中國上市公司能夠享有優渥的租稅獎勵。本文的迴歸分析也發現，企業計提資產減損準備愈高之公司，其有效稅率愈高；外資持股比率較高者及有發行B股或H股之公司，其有效稅率較低；農林牧漁業及信息技術業之有效稅率較其他產業為低。在租稅政策意涵上，本文的研究結果顯示中國會計準則之演變，可能產生使中國企業有效稅率顯著提高之經濟後果，因此，租稅政策應適當考量會計準則演變所產生財稅差異之租稅成本。此外，本文發現外資企業在中國負擔較低之租稅負擔，此結果支持中國2008年施行企業所得稅法統一內外資企業適用之租稅法規，改善兩者間之稅負差異。惟本文的實證結果顯示中國企業在產業間之租稅負擔不等，但在中國2008年施行之企業所得稅法中，仍對高新技及農林牧漁業給予較優惠之租稅規定。

關鍵字

有效稅率 ； 資產減值準備 ； 中國會計制度 ； 企業所得稅 ； 股權結構

並列摘要

This study investigates the effects of China's accounting policies and tax systems on the corporate effective tax rates (ETRs) of Chinese listed companies. The results show that the average ETR of Chinese listed companies is only about 14.07%, which is far below the statutory tax rate of 30% during our sample period. The results suggest that Chinese listed companies, on average, can enjoy substantial tax incentives. We also found, ceteris paribus, that firms reporting greater unrealized asset impairment losses on financial statements bear higher ETRs, firms with greater foreign ownership and firms issuing B-shares or H-shares have lower ETRs, and that firms in agricultural industries and information technologies have lower ETRs. Our results suggest that Chinese accounting standards revolution may cause adverse economic consequences, causing Chinese firms to bear higher tax costs. Further, our results indicate the differences in tax cost between firms with domestic and foreign ownership, supporting the implementation of the Chinese 2008 Business Income Tax Law to unify tax laws for domestic and foreign companies. Finally, our results show that the distribution of ETRs remains uneven among industries. However, the 2008 Business Income Tax Law continues to provide preferential tax incentives for agricultural, forestry and fishing industries and new high-tech industries.

並列關鍵字

Effective tax rates ； Provisions for asset impairments ； China's accounting standards ； Corporate income tax ； Ownership structure

參考文獻

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