- 學位論文
跨國公司利潤之移轉-臺灣之實證研究
Profit Shifting by Multinationals: Evidence from Taiwan
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摘要
企業面對全球化競爭，不僅積極調整經營策略與布局，轉型跨國公司致力於追求利潤極大化，更利用國際間稅率差距，藉由關係企業間利潤移轉的安排，藉此操縱利益，降低租稅負擔。另一方面，國家為吸引外資、促進經濟發展與就業，提升競爭力，常以提供低稅負等優惠措施，以爭取公司設立投資。然而，相較於免稅地區國家，無法完全消弭的稅率差距，無可避免的仍為跨國公司從事利潤移轉安排的誘因，因此各國政府無不積極訂定法令，採取防杜措施，以避免稅收損失，維護租稅公平。 本文以臺灣經濟新報文化事業股份有限公司（TEJ）2003-2007年5年度臺灣上市公司及其長期投資之境外公司為樣本來源，總計含括546家上市公司，4,370個樣本數，以分析跨國企業母子公司間稅率差距與利潤移轉相關性，並檢測我國自民國93年12月28日發布施行「營利事業所得稅不合常規移轉訂價查核準則」新制實施對跨國公司移轉利潤決策影響。實證結果顯示，跨國公司之母子公司兩地國家公司所得稅率差異數與子公司稅後淨利，呈顯著負相關；另稅率及母公司百分之百持股子公司交乘項與子公司稅後淨利呈現極為顯著負相關，且係數絕對值高於稅率差異解釋變數之係數，表示母公司對百分之百投資持有子公司之淨利，具高度控制影響力，得以彈性因應稅率變動，進一步操控子公司利益，顯示確有利潤移轉存在之情形。至新制實施後境外子公司稅後淨利減少，顯示新制實施有降低跨國公司利潤移轉情形。
並列摘要
Meeting with the competition for globalization, the enterprises actively adjust their strategy and transform to MNEs (multinational enterprises) for the purpose of profit maximization. MNEs can manipulate profit to reduce the tax burden using the tax rate gap between international affiliates by profit shifting. On the other hand, countries try to attract foreign investment, promote economic development and employment, and enhance their competitive edge by providing tax instruments, lower tax burden, in particular. However, comparing with tax-free region or tax heaven, it’s hard for countries to completely eliminate the tax gap remains which will still motivate the MNEs to shift profits. Thus the governments need to enact regulation for prevention tax loss and maintain a fair tax environment. The paper takes profit shifting behavior by MNEs into consideration employing a panel data study for the years 2003 to 2007. It also uses a large sample micro data of the 546 listed companies of Taiwan Stock Exchange from the database of Taiwan Economic Journal (TEJ) to detect the correlation of the tax rate gap between these affiliates and affiliate’s net of tax profit. We try to investigate the effect on MNEs after the enactment of the “Regulations Governing of Assessment of Profit-Seeking Enterprise Income Tax on Non-Arm's-Length Transfer Pricing” which promulgated in late 2004 by Ministry of Finance for prevention of tax avoidance. Our empirical finding is a strongly negative relationship between the foreign affiliated company's statutory corporate tax rate difference to parent firm of Taiwan MNEs and the affiliate’s net of tax profits. Furthermore, our empirical results show that tax rate changes in the subsidiary country with wholly-owned affiliate lead to a stronger change in net of tax profits for affiliates, which may reflect the intensive flexibility of MNEs to minimize tax burden that is consistent with profit shifting behavior. As the effect on MNEs after the regulations were enacted, the empirical evidence shows the regulations discourage the profit shifting activities of MNEs.
參考文獻
陳柏綸（2005）,《移轉訂價交易模型探討》, 元智大學會計研究所碩士論文。
張書敏（2008）, 《移轉訂價與公司利潤移轉之研究－台灣地區之實證分析》,國立台灣大學經濟學研究所碩士論文。
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