- 學位論文
財稅差異之探索性研究-以上櫃公司為例
The Exploratory Study of Book-tax Difference－Companies of Over The Counter in Taiwan
摘要
近來因會計弊案及財稅差異不斷的增加，使得財稅差異之相關議題越來越受到重視，然而課稅所得受限於保密規定不易取得，故須從財務報表推估課稅所得。陳明進（2009）、曾振興（2009）已根據我國租稅制度的特殊性及財務報表附註揭露未格式化的問題，建構適合我國企業從財務報表推估課稅所得額之推估公式。本研究依其所建構之推估公式，以實例演練推估過程，試圖簡化推估過程及規格化，讓後續研究者能更容易進行課稅所得額之推估。本研究發現，在推估公式中若能搭配永久性差異、暫時性差異及虧損扣抵的差異原因時，可提高推估率及正確性。本研究之推估公式可適用於上市櫃公司、興櫃公司及公開發行公司。 財稅差異有可能是企業進行「盈餘管理」或是「租稅規劃」的管理行為結果，這些與公司治理脫不了關係。企業在進行財稅差異的管理時，可透過財務所得或課稅所得之收入、費用來操弄，存有方向性。本研究將財稅差異做（1）正向及負向的類別；（2）方向性之組別，比較其影響財稅差異與公司治理、公司特性及財務績效之顯著因子是否會有所不同。本研究發現，（1）正向財稅差異之公司因法人持股比率較高已有監督機制，故獨立董監比率相對較低；也因企業規模較大、獲利能力較高、負債比率、無形資產及研發支出比重較低，投資人給予較高的評價，故而董監質押的比率相對較低；（2）在財務所得大於零且課稅所得小於等於零的情況下，財稅差異最大；其董事會結構中之董事長兼任總經理的情形最高、董事會規模較小、獨立董監比率較低；股權結構中之經理人持股比率較低、法人持股比率較高；因財稅差異並非資訊透明度的評鑑指標之一，故其評鑑等級平均都在B級；其高階主管異動較頻繁，人事穩定度相對較低；其企業規模較小、負債比率最高、無形資產及研發支出比重最低，但因獲利能力尚佳，故投資人給予的投資評價相對較高。本研究之探索性結果只限於上櫃公司，無法類推於上市公司、興櫃公司、公開發行公司。
並列摘要
Recently, due to the constant increasing of difference between accounting scandals and book-tax, the issues related to book-tax differences raise more and more attention. However, taxable income which is subjected to confidentiality is not easy to be obtained, thus we have to simulate and estimate taxable income via the Financial Report. Chen (2009)、Zeng(2009) had ever raised up the problem and research that the unique features of Taiwan's income tax system which the financial statements disclosed the problem is not formatted to construct suitable for Taiwan's enterprises from the financial statements of estimated taxable income of the estimated equation. In this study, the constructed formula is in accordance with real simulation / calculation to estimate the process instance of the exercise, the simplified estimation process expects to provide subsequent researchers an easy way to estimate the amount of taxable income. This study also discovered that if the formula can be combined the reason caused by the estimated permanent differences, temporary differences and loss carry forwards difference, the formula will increase its estimated rate and accuracy. This study reveals that the formula can be applied to listed, Emerging and public companies. The book-tax differences may be caused by the results of firms' earnings management or tax planning management practices, which play an important role in corporate governance. The book-tax differences between firms can be manipulated in the management of financial income or taxable income, which is directional. In this study, the book-tax differences was divided by (1) positive and negative categories, (2) direction of the group to compare differences in the impact of book-tax and corporate governance, corporate characteristics and financial performance of significant factors will be different. This study found that (1) companies which has positive book-tax difference has developed the monitoring mechanism due to higher corporate ownership. It has relatively low rates of independent directors and supervisors. Furthermore, because of the larger scale of the companies, higher profitability, less debt ratio, lower proportion of intangible assets and R&D spending, so investors give a higher rating, which gives rise to lowering the rates of directors, supervisors collateral; (2) while the financial income is larger than zero and taxable income is less than zero or equal to zero in the case, book-tax differences has its maximum, the case for a chairman hold a concurrent post of the general manager in the board structure is the highest of all. And the board becomes smaller, lowering the rates of independent directors and supervisors. In addition, the manager's shareholding ratio is low in the shareholding structure, which leads to a higher percentage of corporate ownership. Since tax differences are not rubric of information transparency, the average evaluation rating in class B. Its executives transactions takes place more frequently. Therefore, personnel stability is relatively low. If the companies become smaller, the debt ratio becomes higher. And the proportion of intangible assets and R&D expenditure reaches its minimum. However, due to the comparatively good profitability, investors still gives the relatively high investment evaluation. The result of this exploratory study is limited to OTC companies, not by analogy to listed, Emerging and public company.