稅務資訊交換機制對台灣上市公司海外分支機構股權斷鏈之影響

THE IMPACT OF TAX INFORMATION EXCHANGE AGREEMENTS ON BROKEN LINKS IN OVERSEAS OWNERSHIP STRUCTURE OF TAIWAN'S MULTINATIONAL CORPORATIONS

陳香梅(Shinemay Chen) ； 胡偉民(Wei-Min Hu) ； 林正新(Cheng-Hsin Lin)

《經濟論文》 50卷2期 (2022/06) Pp. 199-239

摘要

由於租稅天堂資訊不透明的特性對各國政府稅收帶來具傷害性的租稅競爭，OECD於2000年開始推動建立全球稅務資訊交換（TIEAs）網絡。本文利用台灣經濟新報（TEJ）「上市櫃公司關係企業營運概況暨關係企業合併報表」資料庫，以2001年至2017年台灣上市公司各年度新增之關係企業股權鏈結資料為基礎，分析跨國企業的股權架構變動的因素，特別是租稅天堂的TIEAs網絡擴大的效果。以固定效果模型配合追蹤資料的估計結果發現與租稅天堂的鏈結所發生的股權斷鏈次數較高、TIEAs簽訂或生效數目與租稅天堂的交乘項則顯示租稅天堂TIEAs網絡愈擴大，與租稅天堂形成的股權鏈結將愈可能被跨國公司斷鏈。本研究至少部分說明了近年來在反避稅的浪潮下，租稅天堂所面臨的困境。

關鍵字

投資控股架構 ； 股權斷鏈 ； 稅務資訊交換協定 ； 租稅協定 ； 租稅天堂

並列摘要

Due to the opacity of tax havens, multinational corporations (henceforth MNCs) have implemented harmful tax practices that erode the tax base of their home countries. To combat international tax avoidance and profit shifting, the OECD has promoted tax information exchange agreements (TIEAs) since 2000. In 2012, OECD also mandated that countries or regions on the tax haven blacklist must sign at least 12 bilateral agreements on the exchange of information that meet the OECD transparency standard. The increased information sharing between tax authorities makes it more difficult for multinationals to shift profits offshore to avoid taxes; tax havens, therefore, are losing their charm. Whether the expansion of the TIEAs network will delink tax havens from MNCs' ownership structure is unclear. To explore this question, this paper uses TEJ's financial data to examine how the Tax Information Exchange and Tax Havens mechanism affects multinational corporations' shareholding structure. The results show that the number of delinks related to tax havens is relatively high, and the expansion of the TIEA network negatively impacts delinks. In addition, when tax havens sign more TIEAs with other countries or regions, delinks increase.

並列關鍵字

Corporate ownership structure ； Broken ownership links ； Tax information exchange agreement ； Double tax agreement ； Tax haven

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