- 學位論文
電子工業海外子公司之投資策略－移轉訂價查核準則實施前後之比較
Investment Strategy of Overseas Subsidiaries in The Electronics Industry – The Comparison between Prior - and Post- Implementation of Transfer Pricing Regulations
摘要
隨著全球化及國際化之趨勢，跨國企業為使整體資源有效運用、避免匯兌、通貨膨脹風險，及追求全球利潤最大化，通常會透過多國籍企業內移轉訂價手段來達成此一目標。在全球移轉訂價之發展趨勢下，為及時趕上國際租稅發展與國際接軌，我國於2004年12月28日發布「營利事業所得稅不合常規移轉訂價查核準則」(以下簡稱移轉訂價查核準則)，明定關係企業的所有交易行為都必須按「常規交易原則」進行價格的訂定，否則稅捐稽徵機關得依前項原則調整關係企業的所得額並予以補稅處罰，對我國關係企業及跨國企業造成極大的衝擊。 本研究試圖發現移轉訂價政策實施前後，台灣母公司對於海外子公司之投資策略變化，及對跨國企業租稅策略是否產生影響（是否利用免稅天堂設立境外控股公司及關係企業間移轉訂價，將利益留在海外據點）。取得資料為海外子公司之所在地、營業項目、投資收益、母公司和海外子公司關係人交易；主要運用的分析工具為Microsoft Excel軟體，以列聯表(contingency table)方式，來呈現雙類別變項的關係數據之分佈情形。 本研究發現實施前後影響電子業台灣母公司對海外子公司之投資策略變化有：(1)台灣母公司對海外子公司有重新佈局之情形；(2)電子業母公司投資海外子公司地點及家數有分散、增加之變化；(3)電子業之海外子公司投資損益分佈於免稅天堂地區有提高之趨勢；(4)電子業母公司有將利潤留在境外免稅天堂之現象；(5)光電/IO業有透過海外子公司從事進銷貨交易移轉計價策略之趨勢。
並列摘要
In the face of escalating globalization, multinational corporations effectively utilize their resources, avoid risks of exchange rate and inflation, and maximize their global returns through measures of transfer pricing. In order to cope with the global prevalence of transfer pricing as means of tax evasion, Taiwan authorities enacted “Regulations Governing Assessment of Profit-Seeking Enterprise Income Tax on Non-Arm’s Length Transfer Pricing” on Dec 28th, 2004, stating that all transaction activities between subsidiaries must determine the prices based on the “arm’s length principle”, or the tax authority may re-estimate their taxable income and request additional tax payment in compliance with it. Such regulations have caused formidable impact on Taiwanese and other cross-national enterprises. This research attempts to locate whether the implementation of such regulations has changed the investment patterns in oversea subsidiaries from parent companies, and influenced on the tax strategies of multinational corporations, such as setting up offshore holding companies in tax heavens and retaining their profits in oversea operation sites through transfer pricing. The obtained data are the locations of oversea subsidiaries, their business items, return on investment, and the related party transactions between parent companies and their oversea subsidiaries. The primary analytical tool used here is Microsoft Excel and the binomial distribution of the related data is represented as contingency table. The findings about the changes of investment strategy in oversea subsidiaries adopted by Taiwan’s electronic parent companies after the implementation of the regulations are as follows: 1. The parent companies have re-arranged the oversea subsidiaries after the enforcement of such regulations. 2. The distribution of locations of these subsidiaries has become more diffuse and their number has also increased. 3. The investment income of the oversea subsidiaries is increasingly allocated to the tax heavens. 4. The parent companies tend to retain their returns in the tax heavens. 5. The electro-optical industry tends to adopt transfer pricing tactics during purchase and sale transactions.