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題名 影響跨國企業移轉訂價因素之研究
The study on the transfer pricing determinants of multinational enterprises
作者 黃燕雯
Huang, Yen-Wen
貢獻者 何怡澄
黃燕雯
Huang, Yen-Wen
關鍵詞 移轉訂價
風險評估
選案
Transfer pricing
Risk assessment
Case selection
日期 2018
上傳時間 2-Mar-2018 11:57:10 (UTC+8)
摘要 本研究探討影響臺灣跨國企業進行移轉訂價規避納稅義務之主要因素，並進一步檢視臺灣現行選案條件之合宜性。此外，本研究驗證陳明進與蔡麗雯（2010）實證研究使用公司「移轉訂價偏離同業毛利率之差異數」作為衡量移轉訂價代理變數之可信度。本研究使用2004年至2013年度經稅捐稽徵機關以不合常規移轉訂價查核調整之公開發行公司案件計101筆資料進行分析。實證結果發現，在其他條件不變情況下，公司毛利率、營業淨利率及純益率低於同業，進行移轉訂價程度愈高；資產報酬率愈高者，進行移轉訂價規避稅賦程度愈高；研發支出愈多及資產規模愈大等發展能力愈強之公司，愈容易進行移轉訂價；海外子公司占所有子公司比率愈高之跨國企業公司，進行移轉訂價程度愈高。另現行移轉訂價選案條件有關損益鉅幅波動及獲利低於集團其他企業，與企業進行移轉訂價並無顯著關係，可能有進一步檢討該項選案條件之必要。
至於檢視以「移轉訂價偏離同業毛利率之差異數」衡量移轉訂價代理變數之合宜性，資產報酬率、營業成長率及企業規模與本研究實證結果一致，惟大股東及董監經理人持股比、四大會計師事務所、負債比例及電子業等其他變數之結果並不一致，顯見以移轉訂價偏離同業毛利率之差異數作為移轉訂價之代理變數，可能與實際查核狀況不儘相同。
This study examines the major factors affecting multinational enterprises (MNEs) in Taiwan to avoid tax obligation on transfer pricing (TP), and analyzes if the current criteria of TP case selection is appropriate. In addition, this paper tries to verify the credibility of an indicator developed by Chen and Tsai (2010) to estimate abnormal TP transactions of companies. We measure transfer pricing noncompliance in terms of tax audit adjustments made by tax authorities. Base on a sample of 101 TP audits on public companies in Taiwan from 2004 to 2013, our empirical results show that companies which have lower gross profit margin, operation margin and net profit margin than the profit standard of the same business (D_PROFIT), higher return on assets (ROA), higher research and development (RD) expenditure, bigger firm size (SIZE), and higher proportion of foreign affiliates in all subsidiaries (MULTI) have more TP aggressiveness. Moreover, there are no significant relationships between the current criteria on TP case selection in Taiwan such as huge fluctuations in profits (D_CH_NI) and profits below the other companies in the MNE group (D_GROUP) and TP aggressiveness of MNEs.
As regards the credibility of the indicator to estimate abnormal TP transactions of companies, we find that the results of ROA, growth rate (GROWTH), and firm size (SIZE) are consistent with this study, but the results of other factors such as shareholding ratios of the major shareholders, the directors, and the supervisors (SH), four major accounting firms (CPA4), ratio of debt (LEV) as well as electronics industry (ELECO) are not consistent with this paper. It means that the indicator to estimate abnormal TP transactions may not reflect the real TP audit adjustments.
參考文獻 毛治文、官月緞（2011）。探討我國不合常規移轉訂價查核準則之有效性。北商學報，（20），17-38。
白淑晏（2009）。關係企業移轉訂價之實證研究-以台灣半導體上市公司為例。國立高雄應用科技大學商務經營研究所碩士論文，未出版，高雄。
李青鴻（2014）。移轉訂價與避稅行為及租稅負擔之關聯－中國大陸上市公司之實證研究。國立東華大學會計與財務碩士學位學程碩士論文，未出版。
李淑貞、劉亞秋（2013）。跨國企業移轉訂價避稅態樣研析。臺灣企業績效學刊，6（2），195-212。
吳蓮英、宋秀玲（2005）。移轉訂價制度詳解─我國法制暨國際比較（第1版）。台北：實用稅務出版社。
陳明進、蔡麗雯（2010）。移轉訂價與盈餘管理之研究。證券市場發展季刊，22（2），141-176。
曹惠婷（2007）。關係企業移轉訂價之實證研究－以台灣上市(櫃)公司為例。國立高雄第一科技大學企業管理研究所碩士論文，未出版，高雄。
黃美祝（2015）。我國不合常規移轉訂價制度對企業避稅程度之影響。會計學報，6（1），35-62。
蔡麗雯（2005）。移轉訂價與盈餘管理之研究。天主教輔仁大學會計學系碩士論文，未出版，台北。
謝耀智（2010）。我國上市公司所得稅移轉實證之研究。智慧科技與應用統計學報，8（1），13-26。
Al-Eryani, M. F., P. Alam & S. H. Akhter (1990). Transfer pricing determinants of U.S. multinationals. Journal of International Business Studies, Vol.21(No.3), 409-425.
Baldenius, T. & S. Reichelstein (2004). Integranting managerial and tax objectives in transfer pricing. The Accounting Review, Vol.79, (No.3), 591-615.
Booijink, L. & F. Weyzig (2007). Identifying Tax Havens and Offshore Finance Centres. Retrieved August 17, 2016, from https://www.taxjustice.net/cms/upload/pdf/Identifying_Tax_Havens_Jul_07.pdf
Chan, K. H., & Chow, L. (2001). Corporate environments and international transfer pricing: an empirical study of China in a developing economy framework. Accounting and Business Research, Vol 31 ( No. 2), 103-118.
Chan, K. H., Agnes W. Y., Lo, & P. L. L. Mo (2006). Managerial autonomy and tax compliance. The Journal of the American Taxation Association, 28(2), 1-22.
Chen, S., X. Chen, Q. Cheng, & T. Shevlin (2010). Are family firms more tax aggressive than non-family firms? Journal of Financial Economics 95 (1), 41-61.
Chen, S., X. Chen, K. Schipper, Y. Xu & J. Xue (2012). The sensitivity of corporate cash holdings to corporate governance. Reivew of Financial Studies 25, 3610-3644.
Cook, P. W. (1955). Decentralization and the transfer price problem. The Journal of Business, 28(2), 87-94.
DeAngelo, L. E. (1981). Auditor size and audit quality. Journal of Accounting and Economics, Vol.3 (No.3), 183-199.
Dean, J. (1955). Decentralization and intracompany pricing. Harvard Business Review, 33(4), 65-74.
Department of the Treasury. (2007). Report to The Congress on Earnings Stripping, Transfer Pricing and U.S. Income Tax Treaties. Department of the Treasury, Washington, DC.
Desai, M.A., Foley, C.F., & Hines, J.R. (2006). Do tax havens divert economic activity? Economics Letters 90, 219–224.
Dye, R. (1993). Auditing standards, legal liability and auditor wealth. Journal of Political Economy, Vol.101 (No.5), 887-914.
Dyreng, S. D., M. Hanlon & E. L. Maydew (2008). Long-run corporate tax avoidance. The Accounting Review, 83 (1), 61-82.
Francis, J. E. Maydew & H. Sparks (1999). The role of big 6 auditors in the creditable reporting of Accruals. Auditing: A Journal of Practice and Theory, Vol.18 (No.1), 17-34.
Garrison, R. H., Noreen, E. W. & Seal, W. (2003). Management Accounting (European Edition), McGraw – Hill Education, Berkshire.
Hanlon, M., Mills, L., Slemrod, J. (2007). An empirical examination of corporate tax noncompliance. In: Auerbach, A., Hines, J.R., Slemrod, J. (Eds.), Taxing Corporate Income in the 21st Century. Cambridge University Press, Cambridge, 171–210.
Harris, D.G. (1993). The impact of U.S. tax law revision on multinational corporations` capital allocation and income shifting decisions. Journal of Accounting Research, Vol.31 (No. 3), 111-140.
Heckemeyer, J. H. & M. Overesch (2012). Multinationals’ profit response to tax differentials: Effect size and shifting channels. Centre for European Economic Research, Discussion Paper No. 13-045.
Hirshleifer, J. (1956). On the economics of transfer pricing. The Journal of Business, 29(3), 172-184.
Horngren, C. T., Sundem, G. L., Burgstahler, D. & Schatzberg, J. (2014). Introduction to Management Accounting (6th ed.), Pearson Education Limited, England.
Jacob, J. (1996). Tax and transfer pricing: Income shifting and the volume of intrafirm transfers. Journal of Accounting Research, Vol.34 (No. 2), 301-312.
Li, O. Z., H. Liu & C. Ni (2014). Controlling shareholders’ incentive and corporate tax avoidan: A natural experiment in China.
Lin, H. (2009). Essays on empirical corporate finance and corporate governance. Working Paper, Columbia University.
Lucey, T. (1991). Management Accounting (2nd ed.), DP Publications Ltd, London.
Mills, L.F., Newberry, K.J. (2004). Do foreign multinationals’ tax incentives influence their U.S. income reporting and debt policy? National Tax Journal 57 (1), 89–107.
Neighbour, J. (2002). Transfer pricing: Keeping it at arm`s lengh, OECD Observer, 230, January.
Nguyen, T. X. T. (2016). A review of transfer pricing: From dmestic to international transfer pricing. International Journal of Business, Economics and Law, 10(3), 18-23.
OECD (1998). Harmful tax competition. An emerging global issue. Paris: Organization for Economic cooperation and Development.
OECD-CTPA (2006). The OECDs project on harmful tax practices: 2006 update on progress in member countries. Paris: Organization for Economic cooperation and Development.
OECD (2013). Draft handbook on transfer pricing risk assessment. Retrieved November 1, 2016, from http://www.oecd.org/ctp/transfer-pricing/Draft-Handbook-TP-Risk-Assessment-ENG.pdf
Rego, S. O. (2003). Tax-avodance activities of U.S. multinational corporations. Contemporary Accounting Research, 20 (4), 805-833.
Richardson, G., Hanlon, D., Nethercott, L. (1998). Thin capitalization: An Anglo-American comparison. The International Tax Journal 24 (2), 36–66.
Richardson, G., G. Taylor & R. Lanis (2013). Determinants of transfer pricing aggressiveness: Empirical evidence from Australian firms. Journal of Contemporary Accounting & Economics 9, 136-150.
Sahay, S. A. (2003). Transfer pricing based on actual cost. Journal of Management Accounting Research, Vol.15, 177-192.
Scholes, M. S., G. P. Wilson & M. A. Wolfson (1992), Firms` responses to anticipated reductions in tax rates: The Tax Reform Act of 1986. Journal of Accounting Research, Vol.30 (No. 3), 161-185.
Slemrod, J. (2001). A general model of the behaviour response to taxation. International Tax and Public Finance 8 (2), 119–128.
Swenson, D. L. (2001), Tax reforms and evidence of transfer pricing, National Tax Journal, 54(1), 7-25.
The Treasury (2011). Income Tax: Cross Border Profit Allocation. Review of Transfer Pricing Rules. Consultation Paper. Australian Government, Canberra.
Wilson, R. J. (2009). An examination of corporate tax shelter participants. The Accounting Review 84 (3):969-999.
描述 碩士
國立政治大學
行政管理碩士學程
102921037
資料來源 http://thesis.lib.nccu.edu.tw/record/#G0102921037
資料類型 thesis
dc.contributor.advisor 何怡澄zh_TW
dc.contributor.author (Authors) 黃燕雯zh_TW
dc.contributor.author (Authors) Huang, Yen-Wenen_US
dc.creator (作者) 黃燕雯zh_TW
dc.creator (作者) Huang, Yen-Wenen_US
dc.date (日期) 2018en_US
dc.date.accessioned 2-Mar-2018 11:57:10 (UTC+8)-
dc.date.available 2-Mar-2018 11:57:10 (UTC+8)-
dc.date.issued (上傳時間) 2-Mar-2018 11:57:10 (UTC+8)-
dc.identifier (Other Identifiers) G0102921037en_US
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/116120-
dc.description (描述) 碩士zh_TW
dc.description (描述) 國立政治大學zh_TW
dc.description (描述) 行政管理碩士學程zh_TW
dc.description (描述) 102921037zh_TW
dc.description.abstract (摘要) 本研究探討影響臺灣跨國企業進行移轉訂價規避納稅義務之主要因素，並進一步檢視臺灣現行選案條件之合宜性。此外，本研究驗證陳明進與蔡麗雯（2010）實證研究使用公司「移轉訂價偏離同業毛利率之差異數」作為衡量移轉訂價代理變數之可信度。本研究使用2004年至2013年度經稅捐稽徵機關以不合常規移轉訂價查核調整之公開發行公司案件計101筆資料進行分析。實證結果發現，在其他條件不變情況下，公司毛利率、營業淨利率及純益率低於同業，進行移轉訂價程度愈高；資產報酬率愈高者，進行移轉訂價規避稅賦程度愈高；研發支出愈多及資產規模愈大等發展能力愈強之公司，愈容易進行移轉訂價；海外子公司占所有子公司比率愈高之跨國企業公司，進行移轉訂價程度愈高。另現行移轉訂價選案條件有關損益鉅幅波動及獲利低於集團其他企業，與企業進行移轉訂價並無顯著關係，可能有進一步檢討該項選案條件之必要。
至於檢視以「移轉訂價偏離同業毛利率之差異數」衡量移轉訂價代理變數之合宜性，資產報酬率、營業成長率及企業規模與本研究實證結果一致，惟大股東及董監經理人持股比、四大會計師事務所、負債比例及電子業等其他變數之結果並不一致，顯見以移轉訂價偏離同業毛利率之差異數作為移轉訂價之代理變數，可能與實際查核狀況不儘相同。		zh_TW
dc.description.abstract (摘要) This study examines the major factors affecting multinational enterprises (MNEs) in Taiwan to avoid tax obligation on transfer pricing (TP), and analyzes if the current criteria of TP case selection is appropriate. In addition, this paper tries to verify the credibility of an indicator developed by Chen and Tsai (2010) to estimate abnormal TP transactions of companies. We measure transfer pricing noncompliance in terms of tax audit adjustments made by tax authorities. Base on a sample of 101 TP audits on public companies in Taiwan from 2004 to 2013, our empirical results show that companies which have lower gross profit margin, operation margin and net profit margin than the profit standard of the same business (D_PROFIT), higher return on assets (ROA), higher research and development (RD) expenditure, bigger firm size (SIZE), and higher proportion of foreign affiliates in all subsidiaries (MULTI) have more TP aggressiveness. Moreover, there are no significant relationships between the current criteria on TP case selection in Taiwan such as huge fluctuations in profits (D_CH_NI) and profits below the other companies in the MNE group (D_GROUP) and TP aggressiveness of MNEs.
As regards the credibility of the indicator to estimate abnormal TP transactions of companies, we find that the results of ROA, growth rate (GROWTH), and firm size (SIZE) are consistent with this study, but the results of other factors such as shareholding ratios of the major shareholders, the directors, and the supervisors (SH), four major accounting firms (CPA4), ratio of debt (LEV) as well as electronics industry (ELECO) are not consistent with this paper. It means that the indicator to estimate abnormal TP transactions may not reflect the real TP audit adjustments.		en_US
dc.description.tableofcontents 第一章 緒論 1
第一節 研究動機 1
第二節 研究目的 3
第三節 研究流程 4
第二章 文獻探討 5
第一節 移轉訂價 5
第二節 移轉訂價風險評估 12
第三章 研究方法 24
第一節 研究架構及假說 24
第二節 實證模型及變數定義 30
第三節 資料來源與樣本篩選及配對 38
第四節 樣本基本分析 41
第四章 實證結果與分析 43
第一節 樣本敘述統計 43
第二節 實證結果分析 56
第三節 額外分析 62
第五章 結論與建議 72
第一節 研究結論與建議 72
第二節 研究限制 74
參考文獻 75
附錄 80		zh_TW
dc.format.extent 1943437 bytes-
dc.format.mimetype application/pdf-
dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0102921037en_US
dc.subject (關鍵詞) 移轉訂價zh_TW
dc.subject (關鍵詞) 風險評估zh_TW
dc.subject (關鍵詞) 選案zh_TW
dc.subject (關鍵詞) Transfer pricingen_US
dc.subject (關鍵詞) Risk assessmenten_US
dc.subject (關鍵詞) Case selectionen_US
dc.title (題名) 影響跨國企業移轉訂價因素之研究zh_TW
dc.title (題名) The study on the transfer pricing determinants of multinational enterprisesen_US
dc.type (資料類型) thesisen_US
dc.relation.reference (參考文獻) 毛治文、官月緞（2011）。探討我國不合常規移轉訂價查核準則之有效性。北商學報，（20），17-38。
白淑晏（2009）。關係企業移轉訂價之實證研究-以台灣半導體上市公司為例。國立高雄應用科技大學商務經營研究所碩士論文，未出版，高雄。
李青鴻（2014）。移轉訂價與避稅行為及租稅負擔之關聯－中國大陸上市公司之實證研究。國立東華大學會計與財務碩士學位學程碩士論文，未出版。
李淑貞、劉亞秋（2013）。跨國企業移轉訂價避稅態樣研析。臺灣企業績效學刊，6（2），195-212。
吳蓮英、宋秀玲（2005）。移轉訂價制度詳解─我國法制暨國際比較（第1版）。台北：實用稅務出版社。
陳明進、蔡麗雯（2010）。移轉訂價與盈餘管理之研究。證券市場發展季刊，22（2），141-176。
曹惠婷（2007）。關係企業移轉訂價之實證研究－以台灣上市(櫃)公司為例。國立高雄第一科技大學企業管理研究所碩士論文，未出版，高雄。
黃美祝（2015）。我國不合常規移轉訂價制度對企業避稅程度之影響。會計學報，6（1），35-62。
蔡麗雯（2005）。移轉訂價與盈餘管理之研究。天主教輔仁大學會計學系碩士論文，未出版，台北。
謝耀智（2010）。我國上市公司所得稅移轉實證之研究。智慧科技與應用統計學報，8（1），13-26。
Al-Eryani, M. F., P. Alam & S. H. Akhter (1990). Transfer pricing determinants of U.S. multinationals. Journal of International Business Studies, Vol.21(No.3), 409-425.
Baldenius, T. & S. Reichelstein (2004). Integranting managerial and tax objectives in transfer pricing. The Accounting Review, Vol.79, (No.3), 591-615.
Booijink, L. & F. Weyzig (2007). Identifying Tax Havens and Offshore Finance Centres. Retrieved August 17, 2016, from https://www.taxjustice.net/cms/upload/pdf/Identifying_Tax_Havens_Jul_07.pdf
Chan, K. H., & Chow, L. (2001). Corporate environments and international transfer pricing: an empirical study of China in a developing economy framework. Accounting and Business Research, Vol 31 ( No. 2), 103-118.
Chan, K. H., Agnes W. Y., Lo, & P. L. L. Mo (2006). Managerial autonomy and tax compliance. The Journal of the American Taxation Association, 28(2), 1-22.
Chen, S., X. Chen, Q. Cheng, & T. Shevlin (2010). Are family firms more tax aggressive than non-family firms? Journal of Financial Economics 95 (1), 41-61.
Chen, S., X. Chen, K. Schipper, Y. Xu & J. Xue (2012). The sensitivity of corporate cash holdings to corporate governance. Reivew of Financial Studies 25, 3610-3644.
Cook, P. W. (1955). Decentralization and the transfer price problem. The Journal of Business, 28(2), 87-94.
DeAngelo, L. E. (1981). Auditor size and audit quality. Journal of Accounting and Economics, Vol.3 (No.3), 183-199.
Dean, J. (1955). Decentralization and intracompany pricing. Harvard Business Review, 33(4), 65-74.
Department of the Treasury. (2007). Report to The Congress on Earnings Stripping, Transfer Pricing and U.S. Income Tax Treaties. Department of the Treasury, Washington, DC.
Desai, M.A., Foley, C.F., & Hines, J.R. (2006). Do tax havens divert economic activity? Economics Letters 90, 219–224.
Dye, R. (1993). Auditing standards, legal liability and auditor wealth. Journal of Political Economy, Vol.101 (No.5), 887-914.
Dyreng, S. D., M. Hanlon & E. L. Maydew (2008). Long-run corporate tax avoidance. The Accounting Review, 83 (1), 61-82.
Francis, J. E. Maydew & H. Sparks (1999). The role of big 6 auditors in the creditable reporting of Accruals. Auditing: A Journal of Practice and Theory, Vol.18 (No.1), 17-34.
Garrison, R. H., Noreen, E. W. & Seal, W. (2003). Management Accounting (European Edition), McGraw – Hill Education, Berkshire.
Hanlon, M., Mills, L., Slemrod, J. (2007). An empirical examination of corporate tax noncompliance. In: Auerbach, A., Hines, J.R., Slemrod, J. (Eds.), Taxing Corporate Income in the 21st Century. Cambridge University Press, Cambridge, 171–210.
Harris, D.G. (1993). The impact of U.S. tax law revision on multinational corporations` capital allocation and income shifting decisions. Journal of Accounting Research, Vol.31 (No. 3), 111-140.
Heckemeyer, J. H. & M. Overesch (2012). Multinationals’ profit response to tax differentials: Effect size and shifting channels. Centre for European Economic Research, Discussion Paper No. 13-045.
Hirshleifer, J. (1956). On the economics of transfer pricing. The Journal of Business, 29(3), 172-184.
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