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題名 反租稅規避制度對利潤移轉之影響 -以台灣上市電子工業在境外設立子公司為例
Impact of anti-tax avoidance regimes on the profit shifting-Evidence from the listed electronic industries in Taiwan investing on subsidiaries abroad作者 顏瀅庭 貢獻者 陳香梅
顏瀅庭關鍵詞 移轉訂價
租稅天堂
資本弱化
租稅規避制度
利潤移轉
隨機效果模型
Transfer pricing
Tax heavens
Thin capitalization
Tax avoidance regimes
Profit shifting
Random effect model日期 2013 上傳時間 21-Jul-2014 15:45:29 (UTC+8) 摘要 在全球化的趨勢之下，國際分工不可避免地成為跨國公司運作的趨勢。2013年2月，OECD發布《處理稅基侵蝕及利潤移轉》的報告表示，跨國公司利潤移轉策略的採取被認為是稅基侵蝕的主要原因。基於BEPS已經成為各國非常重視的議題，世界各國也為了保全稅基及防杜利潤移出，紛紛訂出反制措施。這些反制措施是否能遏制利潤不當的移動，是一個值得重視議題。惟目前學術文獻上並未有一篇全面盤點這些反制措施及地主國租稅制度對利潤移轉的影響。 故本篇研究以2005年至2012年台灣電子工業作為研究對象，利用橫斷面及時間序列的追蹤資料 (panel data) 之隨機模型做估計，探討台灣跨國公司之電子業海外子公司的利潤移轉是否會受到租稅規避行為的影響。結果顯示，利潤移轉會受到以下四種國際租稅規避工具所影響，分別是地主國是否有移轉訂價的規範、是否有預先移轉訂價規範、是否有反資本弱化條款以及地主國是否為租稅天堂。 參考文獻 Azemar, C. (2010). International corporate taxation and U.S. multinationals’ behavior. Canadian Journal of Economics 43, 232-253.Becker, J. and N. Riedel (2012). Cross-border tax effects on affiliate investment – Evidence from european multinationals. European Economic Review 56, 436-450.Bernard, A.B., Jensen, J. B. and Schott, P. K., (2006). Transfer pricing by U.S.-based multinational firms. NBER Working Paper, No. 12493.Buettner, T., and G. Wamser. (2007). Intercompany loans and profit shifting: Evidence from company-level data. CESifo Working Paper 1959, CESifo Group,Munich.Buettner, T., M. Overesch, U. Schreiber, and G. Wamser. (2012). The impact of thin-capitalization rules on the capital structure of multinational firms. Journal of Public Economics 96 (11/12): 930-938.Clausing, K. A. (2003). Tax-motivated transfer pricing and us intrafirm trade prices. Journal of Public Economics 87 (9–10): 2207–23.Clausing, Kimberly A., (2009). Multinational firm tax avoidance and tax policy. National Tax Journal 62 (4), 703-725.Desai, M., C. Foley, and J. Hines. (2004). A multinational perspective on capital structure choice and internal capital markets. The Journal of Finance 59 (6): 2451-2487.Dischinger, M. (2010). Profit shifting by multinationals: Indirect evidence from European micro data. Discussion Paper, Ludwig-Maximilians-University Munich.Dischinger, M., and N. Riedel. (2008). Corporate taxes and the location of intangible assets within multinational firms. Discussion Paper in Economics 5294, Department of Economics, University of Munich, Munich.Ernst & Young, (2013). Transfer pricing global reference guide. Available athttp://www.ey.com/Publication/vwLUAssets/Transfer_pricing_global_reference_guide_2013/$FILE/Transfer_pricing_global_reference_guide_2013.pdfFuest C, and N Riedel, (2012). Tax evasion and tax avoidance: the role of international profit shifting. Draining development? Controlling flows of illicit funds from developing countries. World Bank, available at https://openknowledge.worldbank.org/handle/10986/2242Gramlich, Jeffrey D., Piman Limpaphayom, S. Ghon Rhee, (2004). Taxes, keiretsu affiliation, and income shifting. Journal of Accounting and Economics 37, 203–228.Granger C.W.J. and P. Newbold (1974). Spurious regressions in Econometrics. Journal of Econometrics 2 (1974) 111-120. Gravelle, Jane G. (2013). Tax havens: International tax avoidance and evasion. Congressional Research Service.Grubert ,H., and J. Mutti. Taxes, (1991). Tariffs and transfer pricing in multinational corporate decision making. Review of Economics and Statistics 73 :285-93Harry Grubert (2012). Foreign taxes and the growing share of U.S. multinational company income abroad: Profits, not sales, are being globalized. National tax journal, June,65 (2), 247-282Heckemeyer, Jost H.; Overesch, Michael (2013). Multinationals` profit response to tax differentials: Effect size and shifting channels. ZEW Discussion Papers, No.13-045, available at http://nbn-resolving.de/urn:nbn:de:bsz:180-madoc-340498Hines, James R. Jr., and Eric M. Rice, (1994). Fiscal paradise: Foreign tax havens and American business. The Quarterly Journal of Economics 109 (1), 149-182.Huizinga, H. and L. Laeven. (2008). International profit shifting within multinationals: A multi-country perspective. Journal of Public Economics 92: 1164-1182.Huizinga, H., K. Laeven, and G. Nicodeme. (2007). Capital structure and international debt-shifting. IMF Working Paper, International Monetary Fund.Janský, Petr and Prats, Alex, (2013), Multinational corporations and the profit shifting lure of tax havens, Christian Aid Occasional Paper No. 9.Klassen K. J., M. Lang, and M. Wolfson. (1993). Geographic income shifting by multinational corporations in response to tax rate changes. Journal of Accounting Research 31: 140-173.Levin, A., C. F. Lin, and C. S. Chu. (2002). Unit root tests in panel data: asymptotic and finite sample properties. Journal of Econometrics 108: 1-24.Lo Agnes W.Y., Raymond M.K. Wong , Michael Firth (2010). Can corporate governance deter management from manipulating earnings? Evidence from related-party sales transactions in China , Journal of Corporate Finance 16 225–235.Lohse , Theresa, Nadine Riedel and Christoph Spengel (2012). The increasing importance of transfer pricing regulations – a worldwide overview. Oxford University Centre for Business Taxation.Lohse, Theresa; Riedel, Nadine (2012). The impact of transfer pricing regulations on profit shifting within European multinationals. FZID Discussion Papers, No.61-2012, available at http://nbn-resolving.de/urn:nbn:de:bsz:100-opus-7962Maffini, G. and S. Mokkas. (2011). Profit shifting and measured productivity of multinational firms. Oxford Bulletin of Economics and Statistics 73: 1-20.Mintz, J., and A. Weichenrieder. (2005). Taxation and the financial structure of German outbound FDI. CESifo working paper 1612 (December), Munich.OECD, (2013). Addressing base erosion and profit shifting, February 2013. Available at http://dx.doi.org/10.1787/9789264192744-enOveresch Michael, (2006). Transfer pricing of intrafirm sales as a profit shifting channel – Evidence from German firm data. Discussion paper, Centre for European Economic Research (ZEW).Overesch, M., and G. Wamser. (2006). German inbound investment, corporate tax planning, and thin-capitalization rules: A difference-in-differences approach. Centre for European Economic Research Discussion Paper No. 06-075.Oyelere P. B., Emmanuel C. R. (1998). International transfer pricing and income shifting: Evidence from the UK. The European Accounting Review 1998, 7:4, 623-635.Tax Justice Network (2012), The Price of Offshore Revisited. Available at http://www.elcorreo.eu.org/IMG/pdf/Price_of_Offshore_Revisited_72612.pdfTaylor Grantley, Grant Richardson (2013). The determinants of thinly capitalized tax avoidance structures: Evidence from Australian firms, Journal of International Accounting, Auditing and Taxation 22 (2013) 12– 25.Weichenrieder, A. (2009). Profit shifting in the EU: Evidence from Germany. International Tax and Public Finance 16: 281-297.經濟部，投資審議委員會，2012 年對海外投資事業營運狀況調查分析報告（調查年度：2011 年）。中央銀行全球資訊網，統計資料，http://www.cbc.gov.tw/np.asp?ctNode=537&mp=1 描述 碩士
國立政治大學
財政研究所
101255025
102資料來源 http://thesis.lib.nccu.edu.tw/record/#G0101255025 資料類型 thesis dc.contributor.advisor 陳香梅 zh_TW dc.contributor.author (Authors) 顏瀅庭 zh_TW dc.creator (作者) 顏瀅庭 zh_TW dc.date (日期) 2013 en_US dc.date.accessioned 21-Jul-2014 15:45:29 (UTC+8) - dc.date.available 21-Jul-2014 15:45:29 (UTC+8) - dc.date.issued (上傳時間) 21-Jul-2014 15:45:29 (UTC+8) - dc.identifier (Other Identifiers) G0101255025 en_US dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/67640 - dc.description (描述) 碩士 zh_TW dc.description (描述) 國立政治大學 zh_TW dc.description (描述) 財政研究所 zh_TW dc.description (描述) 101255025 zh_TW dc.description (描述) 102 zh_TW dc.description.abstract (摘要) 在全球化的趨勢之下，國際分工不可避免地成為跨國公司運作的趨勢。2013年2月，OECD發布《處理稅基侵蝕及利潤移轉》的報告表示，跨國公司利潤移轉策略的採取被認為是稅基侵蝕的主要原因。基於BEPS已經成為各國非常重視的議題，世界各國也為了保全稅基及防杜利潤移出，紛紛訂出反制措施。這些反制措施是否能遏制利潤不當的移動，是一個值得重視議題。惟目前學術文獻上並未有一篇全面盤點這些反制措施及地主國租稅制度對利潤移轉的影響。 故本篇研究以2005年至2012年台灣電子工業作為研究對象，利用橫斷面及時間序列的追蹤資料 (panel data) 之隨機模型做估計，探討台灣跨國公司之電子業海外子公司的利潤移轉是否會受到租稅規避行為的影響。結果顯示，利潤移轉會受到以下四種國際租稅規避工具所影響，分別是地主國是否有移轉訂價的規範、是否有預先移轉訂價規範、是否有反資本弱化條款以及地主國是否為租稅天堂。 zh_TW dc.description.tableofcontents 壹、 前言 1貳、 臺灣電子業對外投資背景 8一、 臺灣對外投資概況 8二、 臺灣電子工業市公司對外投資現況 12三、 臺灣電子業投資地為租稅天堂之相關租稅環境 14四、 臺灣電子業投資地之移轉訂價規範執行情況 18五、小結 20參、 實證方法 22一、 實證模型設定 22二、 變數定義與資料來源 24肆、 實證結果分析 29一、 敘述統計分析 29二、 模型檢定 30三、 實證結果 33伍、 結論與建議 37參考文獻 38 zh_TW dc.format.extent 793136 bytes - dc.format.mimetype application/pdf - dc.language.iso en_US - dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0101255025 en_US dc.subject (關鍵詞) 移轉訂價 zh_TW dc.subject (關鍵詞) 租稅天堂 zh_TW dc.subject (關鍵詞) 資本弱化 zh_TW dc.subject (關鍵詞) 租稅規避制度 zh_TW dc.subject (關鍵詞) 利潤移轉 zh_TW dc.subject (關鍵詞) 隨機效果模型 zh_TW dc.subject (關鍵詞) Transfer pricing en_US dc.subject (關鍵詞) Tax heavens en_US dc.subject (關鍵詞) Thin capitalization en_US dc.subject (關鍵詞) Tax avoidance regimes en_US dc.subject (關鍵詞) Profit shifting en_US dc.subject (關鍵詞) Random effect model en_US dc.title (題名) 反租稅規避制度對利潤移轉之影響 -以台灣上市電子工業在境外設立子公司為例 zh_TW dc.title (題名) Impact of anti-tax avoidance regimes on the profit shifting-Evidence from the listed electronic industries in Taiwan investing on subsidiaries abroad en_US dc.type (資料類型) thesis en dc.relation.reference (參考文獻) Azemar, C. (2010). International corporate taxation and U.S. multinationals’ behavior. Canadian Journal of Economics 43, 232-253.Becker, J. and N. Riedel (2012). Cross-border tax effects on affiliate investment – Evidence from european multinationals. European Economic Review 56, 436-450.Bernard, A.B., Jensen, J. B. and Schott, P. K., (2006). Transfer pricing by U.S.-based multinational firms. NBER Working Paper, No. 12493.Buettner, T., and G. Wamser. (2007). Intercompany loans and profit shifting: Evidence from company-level data. CESifo Working Paper 1959, CESifo Group,Munich.Buettner, T., M. Overesch, U. Schreiber, and G. Wamser. (2012). The impact of thin-capitalization rules on the capital structure of multinational firms. Journal of Public Economics 96 (11/12): 930-938.Clausing, K. A. (2003). Tax-motivated transfer pricing and us intrafirm trade prices. Journal of Public Economics 87 (9–10): 2207–23.Clausing, Kimberly A., (2009). Multinational firm tax avoidance and tax policy. National Tax Journal 62 (4), 703-725.Desai, M., C. Foley, and J. Hines. (2004). A multinational perspective on capital structure choice and internal capital markets. The Journal of Finance 59 (6): 2451-2487.Dischinger, M. (2010). Profit shifting by multinationals: Indirect evidence from European micro data. Discussion Paper, Ludwig-Maximilians-University Munich.Dischinger, M., and N. Riedel. (2008). Corporate taxes and the location of intangible assets within multinational firms. Discussion Paper in Economics 5294, Department of Economics, University of Munich, Munich.Ernst & Young, (2013). Transfer pricing global reference guide. Available athttp://www.ey.com/Publication/vwLUAssets/Transfer_pricing_global_reference_guide_2013/$FILE/Transfer_pricing_global_reference_guide_2013.pdfFuest C, and N Riedel, (2012). Tax evasion and tax avoidance: the role of international profit shifting. Draining development? Controlling flows of illicit funds from developing countries. World Bank, available at https://openknowledge.worldbank.org/handle/10986/2242Gramlich, Jeffrey D., Piman Limpaphayom, S. Ghon Rhee, (2004). Taxes, keiretsu affiliation, and income shifting. Journal of Accounting and Economics 37, 203–228.Granger C.W.J. and P. Newbold (1974). Spurious regressions in Econometrics. Journal of Econometrics 2 (1974) 111-120. Gravelle, Jane G. (2013). Tax havens: International tax avoidance and evasion. Congressional Research Service.Grubert ,H., and J. Mutti. Taxes, (1991). Tariffs and transfer pricing in multinational corporate decision making. Review of Economics and Statistics 73 :285-93Harry Grubert (2012). Foreign taxes and the growing share of U.S. multinational company income abroad: Profits, not sales, are being globalized. National tax journal, June,65 (2), 247-282Heckemeyer, Jost H.; Overesch, Michael (2013). Multinationals` profit response to tax differentials: Effect size and shifting channels. ZEW Discussion Papers, No.13-045, available at http://nbn-resolving.de/urn:nbn:de:bsz:180-madoc-340498Hines, James R. Jr., and Eric M. Rice, (1994). Fiscal paradise: Foreign tax havens and American business. The Quarterly Journal of Economics 109 (1), 149-182.Huizinga, H. and L. Laeven. (2008). International profit shifting within multinationals: A multi-country perspective. Journal of Public Economics 92: 1164-1182.Huizinga, H., K. Laeven, and G. Nicodeme. (2007). Capital structure and international debt-shifting. IMF Working Paper, International Monetary Fund.Janský, Petr and Prats, Alex, (2013), Multinational corporations and the profit shifting lure of tax havens, Christian Aid Occasional Paper No. 9.Klassen K. J., M. Lang, and M. Wolfson. (1993). Geographic income shifting by multinational corporations in response to tax rate changes. Journal of Accounting Research 31: 140-173.Levin, A., C. F. Lin, and C. S. Chu. (2002). Unit root tests in panel data: asymptotic and finite sample properties. Journal of Econometrics 108: 1-24.Lo Agnes W.Y., Raymond M.K. Wong , Michael Firth (2010). Can corporate governance deter management from manipulating earnings? Evidence from related-party sales transactions in China , Journal of Corporate Finance 16 225–235.Lohse , Theresa, Nadine Riedel and Christoph Spengel (2012). The increasing importance of transfer pricing regulations – a worldwide overview. Oxford University Centre for Business Taxation.Lohse, Theresa; Riedel, Nadine (2012). The impact of transfer pricing regulations on profit shifting within European multinationals. FZID Discussion Papers, No.61-2012, available at http://nbn-resolving.de/urn:nbn:de:bsz:100-opus-7962Maffini, G. and S. Mokkas. (2011). Profit shifting and measured productivity of multinational firms. Oxford Bulletin of Economics and Statistics 73: 1-20.Mintz, J., and A. Weichenrieder. (2005). Taxation and the financial structure of German outbound FDI. CESifo working paper 1612 (December), Munich.OECD, (2013). Addressing base erosion and profit shifting, February 2013. Available at http://dx.doi.org/10.1787/9789264192744-enOveresch Michael, (2006). Transfer pricing of intrafirm sales as a profit shifting channel – Evidence from German firm data. Discussion paper, Centre for European Economic Research (ZEW).Overesch, M., and G. Wamser. (2006). German inbound investment, corporate tax planning, and thin-capitalization rules: A difference-in-differences approach. Centre for European Economic Research Discussion Paper No. 06-075.Oyelere P. B., Emmanuel C. R. (1998). International transfer pricing and income shifting: Evidence from the UK. The European Accounting Review 1998, 7:4, 623-635.Tax Justice Network (2012), The Price of Offshore Revisited. Available at http://www.elcorreo.eu.org/IMG/pdf/Price_of_Offshore_Revisited_72612.pdfTaylor Grantley, Grant Richardson (2013). The determinants of thinly capitalized tax avoidance structures: Evidence from Australian firms, Journal of International Accounting, Auditing and Taxation 22 (2013) 12– 25.Weichenrieder, A. (2009). Profit shifting in the EU: Evidence from Germany. International Tax and Public Finance 16: 281-297.經濟部，投資審議委員會，2012 年對海外投資事業營運狀況調查分析報告（調查年度：2011 年）。中央銀行全球資訊網，統計資料，http://www.cbc.gov.tw/np.asp?ctNode=537&mp=1 zh_TW
