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題名 租稅規避與稅務風險之關係
The relationship between tax avoidance and tax risk作者 姜沛岑
Chiang, Pei-Chen貢獻者 郭振雄
姜沛岑
Chiang, Pei-Chen關鍵詞 稅務風險
租稅不確定性
租稅規避
Tax risk
Tax uncertainty
Tax avoidance日期 2018 上傳時間 29-Aug-2018 15:59:08 (UTC+8) 摘要 稅務風險是指未來租稅負擔可能波動的情形，是對未來稅負的不確定，且未來有效稅率異常波動主要是導因於稅務機關的質疑。本文以1998年至2016年的台灣上市 (櫃) 公司做為樣本，研究租稅規避與稅務風險的關係，並分析不同企業特徵對租稅規避與稅務風險關係的影響。本文採用廣義的租稅規避定義，而實證結果發現，一般而言企業租稅規避程度高，其稅務風險反而較低，唯有特定企業特徵較明顯時，企業從事租稅規避會增加稅務風險。租稅規避之外觀可能是租稅規避的結果，也可能意味著企業已有高度租稅規避的能力，企業可以利用低風險策略達到租稅規避效果，因此企業未來稅務風險反而較低。而特定的企業特徵卻可能改變租稅規避與稅務風險的關係，如研究發展費用、權益法所得與租稅天堂，其中研究發展費用與權益法所得的影響效果較明顯，此兩項企業特徵較明顯的企業若從事高度的租稅規避，其未來稅務風險會增加。
Tax risk is the degree of uncertainty about the firm’s future tax payments, where the tax uncertainty comes from the likelihood of losing a claimed tax benefit upon challenged by a tax authority. In my research, the sample selection begins with TEJ Database firm-years between 1998 and 2016. I investigate the relation between tax avoidance and tax risk. The results show that the firms with low effective tax rates or high book-tax differences bear less tax risk. On average, reduction of explicit tax can be achieved via safe tax avoidance strategies, and tax avoidance does not increase tax risk. However, the relation between tax avoidance and tax risk may be changed by firms with high levels of R&D expenses, investment income using the equity method, or tax haven subsidiaries. As a result, the findings show that firms with high levels of R&D expenses or investment income may let tax avoidance significantly increase tax risk.參考文獻 陳明進與蔡麗雯，2006，財稅所得差異決定因素及課稅所得推估之研究，管理學報，第23 期 (6)：739-763。 Cazier, R., S. Rego, X. Tian, R. Wilson. 2009. Early evidence on the determinants of unrecognized tax benefits. working paper, University of Iowa. Chen, S., X. Chen, Q. Cheng and T. Shevlin. 2010. Are family firms more tax aggressive than non-family firms? Journal of Financial Economics 95: 41–61. De Simone, L., L. Mills and B. Stomberg. 2016. Examining IRS audit outcomes of income mobile firms. Working paper, Stanford University, University of Texas and University of Georgia. Desai, M. A., and D. Dharmapala. 2006. Corporate tax avoidance and high –powered incentives. Journal of Financial Economics 79 (1): 145 -179. Desai, M. A. and D. Dharmapala. 2009. Corporate tax avoidance and firm value. Review of Economics & Statistics 91 (3): 537-546. Dyreng, S., M. Hanlon and E. Maydew. 2008. Long-run corporate tax avoidance. The Accounting Review 83: 61-82. Dyreng, S. and B. Lindsey. 2009. Using financial accounting data to examine the effect of foreign operations located in tax havens and other countries on US multinational firms’ tax rates. Journal of Accounting Research 47: 1283–1316. Dyreng, S., M. Hanlon, E. Maydew and J. Thornock. 2016. Changes in corporate effective tax rates over the past twenty-five years. Working paper, Duke University, Massachusetts Institute of Technology, University of North Carolina and University of Washington. Dyreng, S., Hanlon, M. and Maydew. E. 2016. When does tax avoidance result in tax uncertainty? Working paper, Duke University. Dyreng, S., Hanlon, M. and Maydew. E. 2017. When does tax avoidance result in tax uncertainty? Working paper, Duke University. Fama, E.F. and K.R. French. 1992. The cross-section of expected stock returns. Journal of Finance 47: 427-465. Frank, M. M., L. J. Lynch and S.O. Rego. 2009. Tax reporting aggressiveness and its relation to aggressive financial reporting. The Accounting Review 84 (2): 467-496. Griffith, R., H. Miller and M. O’Connell. 2014. Ownership of intellectual property and corporate taxation. Journal of Public Economics 112: 12-23. Graham, J. and A. Tucker. 2006. Tax shelters and corporate debt policy. Journal of Financial Economics 81: 563-594. Graham, J. R., Hanlon, M., Shevlin, T., & Shroff, N. 2014. Incentives for Tax Planning and Avoidance: Evidence from the Field. The Accounting Review 89 (3): 991-1023. Guenther, D. A., S. R. Matsunaga and B. M. Williams. 2017. Is tax avoidance related to firm risk? The Accounting Review 92 (1): 115-136. Hanlon, M. and J., Slemrod. 2009. What does tax aggressiveness signal? Evidence from stock price reactions to news about tax shelter involvement. Journal of Public Economics 93: 126-141. Hanlon, M. and S. Heitzman, 2010. A review of tax research. Journal of Accounting and Economics 50: 127-178. Hasan, I., C. Hoi, Q. Wu and H. Zhang. 2014. Beauty is in the eye of the beholder: the effect of corporate tax avoidance on the cost of bank loans. Journal of Financial Economics 113: 109-130. Hutchens, M. and S. O. Rego. 2015. Does greater tax risk lead to increased firm risk. Working paper, Indiana University. Khurana, I. K. and W. J. Moser. 2013. Institutional shareholders` investment horizons and tax avoidance. The Journal of the American Taxation Association 35 (1): 111-134. Kim, J. B., Li, Y., & Zhang, L. 2011. Corporate tax avoidance and stock price crash risk: firm-level analysis. Journal of Financial Economics 100 (3): 639-662. Lisowsky, P. 2010. Seeking shelter: empirically modeling tax shelters using financial statement information. The Accounting Review 85: 1693-1720. Markle, K. and D. Shackelford. 2012. Cross-country comparisons of corporate income tax rates. National Tax Journal 65: 493-528. Mills, L. 1998. Book-tax differences and Internal Revenue Service adjustments. Journal of Accounting Research 36 (2): 343-356. Rego, S. 2003. Tax avoidance activities of U.S. multinational corporations. Contemporary Accounting Research 20: 805-833. Wilson, R. 2009. An examination of corporate tax shelter participants. The Accounting Review 84: 969-999. Zimmerman, J. L. 1983. Taxes and firm size. Journal of Accounting and Economics 5: 119-149. 描述 碩士
國立政治大學
財政學系
105255004資料來源 http://thesis.lib.nccu.edu.tw/record/#G1052550041 資料類型 thesis dc.contributor.advisor 郭振雄 zh_TW dc.contributor.author (Authors) 姜沛岑 zh_TW dc.contributor.author (Authors) Chiang, Pei-Chen en_US dc.creator (作者) 姜沛岑 zh_TW dc.creator (作者) Chiang, Pei-Chen en_US dc.date (日期) 2018 en_US dc.date.accessioned 29-Aug-2018 15:59:08 (UTC+8) - dc.date.available 29-Aug-2018 15:59:08 (UTC+8) - dc.date.issued (上傳時間) 29-Aug-2018 15:59:08 (UTC+8) - dc.identifier (Other Identifiers) G1052550041 en_US dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/119782 - dc.description (描述) 碩士 zh_TW dc.description (描述) 國立政治大學 zh_TW dc.description (描述) 財政學系 zh_TW dc.description (描述) 105255004 zh_TW dc.description.abstract (摘要) 稅務風險是指未來租稅負擔可能波動的情形，是對未來稅負的不確定，且未來有效稅率異常波動主要是導因於稅務機關的質疑。本文以1998年至2016年的台灣上市 (櫃) 公司做為樣本，研究租稅規避與稅務風險的關係，並分析不同企業特徵對租稅規避與稅務風險關係的影響。本文採用廣義的租稅規避定義，而實證結果發現，一般而言企業租稅規避程度高，其稅務風險反而較低，唯有特定企業特徵較明顯時，企業從事租稅規避會增加稅務風險。租稅規避之外觀可能是租稅規避的結果，也可能意味著企業已有高度租稅規避的能力，企業可以利用低風險策略達到租稅規避效果，因此企業未來稅務風險反而較低。而特定的企業特徵卻可能改變租稅規避與稅務風險的關係，如研究發展費用、權益法所得與租稅天堂，其中研究發展費用與權益法所得的影響效果較明顯，此兩項企業特徵較明顯的企業若從事高度的租稅規避，其未來稅務風險會增加。 zh_TW dc.description.abstract (摘要) Tax risk is the degree of uncertainty about the firm’s future tax payments, where the tax uncertainty comes from the likelihood of losing a claimed tax benefit upon challenged by a tax authority. In my research, the sample selection begins with TEJ Database firm-years between 1998 and 2016. I investigate the relation between tax avoidance and tax risk. The results show that the firms with low effective tax rates or high book-tax differences bear less tax risk. On average, reduction of explicit tax can be achieved via safe tax avoidance strategies, and tax avoidance does not increase tax risk. However, the relation between tax avoidance and tax risk may be changed by firms with high levels of R&D expenses, investment income using the equity method, or tax haven subsidiaries. As a result, the findings show that firms with high levels of R&D expenses or investment income may let tax avoidance significantly increase tax risk. en_US dc.description.tableofcontents 第壹章 緒論 1 第一節 研究背景與動機 1 第二節 研究目的 4 第三節 研究流程 6 第貳章 文獻探討與假說建立 8 第一節 稅務風險 9 第二節 租稅規避 11 第三節 假說建立 13 第參章 研究方法 21 第一節 資料來源與樣本篩選 21 第二節 變數定義 23 第三節 實證模型 33 第肆章 實證結果分析與解釋 36 第一節 樣本敘述統計 36 第二節 實證結果 44 第三節 穩健性測試 52 第伍章 結論與建議 70 第一節 研究結論與建議 70 第二節 研究限制 72 第三節 研究貢獻 73 參考文獻 74 zh_TW dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G1052550041 en_US dc.subject (關鍵詞) 稅務風險 zh_TW dc.subject (關鍵詞) 租稅不確定性 zh_TW dc.subject (關鍵詞) 租稅規避 zh_TW dc.subject (關鍵詞) Tax risk en_US dc.subject (關鍵詞) Tax uncertainty en_US dc.subject (關鍵詞) Tax avoidance en_US dc.title (題名) 租稅規避與稅務風險之關係 zh_TW dc.title (題名) The relationship between tax avoidance and tax risk en_US dc.type (資料類型) thesis en_US dc.relation.reference (參考文獻) 陳明進與蔡麗雯，2006，財稅所得差異決定因素及課稅所得推估之研究，管理學報，第23 期 (6)：739-763。 Cazier, R., S. Rego, X. Tian, R. Wilson. 2009. Early evidence on the determinants of unrecognized tax benefits. working paper, University of Iowa. Chen, S., X. Chen, Q. Cheng and T. Shevlin. 2010. Are family firms more tax aggressive than non-family firms? Journal of Financial Economics 95: 41–61. De Simone, L., L. Mills and B. Stomberg. 2016. Examining IRS audit outcomes of income mobile firms. Working paper, Stanford University, University of Texas and University of Georgia. Desai, M. A., and D. Dharmapala. 2006. Corporate tax avoidance and high –powered incentives. Journal of Financial Economics 79 (1): 145 -179. Desai, M. A. and D. Dharmapala. 2009. Corporate tax avoidance and firm value. Review of Economics & Statistics 91 (3): 537-546. Dyreng, S., M. Hanlon and E. Maydew. 2008. Long-run corporate tax avoidance. The Accounting Review 83: 61-82. Dyreng, S. and B. Lindsey. 2009. Using financial accounting data to examine the effect of foreign operations located in tax havens and other countries on US multinational firms’ tax rates. Journal of Accounting Research 47: 1283–1316. Dyreng, S., M. Hanlon, E. Maydew and J. Thornock. 2016. Changes in corporate effective tax rates over the past twenty-five years. Working paper, Duke University, Massachusetts Institute of Technology, University of North Carolina and University of Washington. Dyreng, S., Hanlon, M. and Maydew. E. 2016. When does tax avoidance result in tax uncertainty? Working paper, Duke University. Dyreng, S., Hanlon, M. and Maydew. E. 2017. When does tax avoidance result in tax uncertainty? Working paper, Duke University. Fama, E.F. and K.R. French. 1992. The cross-section of expected stock returns. Journal of Finance 47: 427-465. Frank, M. M., L. J. Lynch and S.O. Rego. 2009. Tax reporting aggressiveness and its relation to aggressive financial reporting. The Accounting Review 84 (2): 467-496. Griffith, R., H. Miller and M. O’Connell. 2014. Ownership of intellectual property and corporate taxation. Journal of Public Economics 112: 12-23. Graham, J. and A. Tucker. 2006. Tax shelters and corporate debt policy. Journal of Financial Economics 81: 563-594. Graham, J. R., Hanlon, M., Shevlin, T., & Shroff, N. 2014. Incentives for Tax Planning and Avoidance: Evidence from the Field. The Accounting Review 89 (3): 991-1023. Guenther, D. A., S. R. Matsunaga and B. M. Williams. 2017. Is tax avoidance related to firm risk? The Accounting Review 92 (1): 115-136. Hanlon, M. and J., Slemrod. 2009. What does tax aggressiveness signal? Evidence from stock price reactions to news about tax shelter involvement. Journal of Public Economics 93: 126-141. Hanlon, M. and S. Heitzman, 2010. A review of tax research. Journal of Accounting and Economics 50: 127-178. Hasan, I., C. Hoi, Q. Wu and H. Zhang. 2014. Beauty is in the eye of the beholder: the effect of corporate tax avoidance on the cost of bank loans. Journal of Financial Economics 113: 109-130. Hutchens, M. and S. O. Rego. 2015. Does greater tax risk lead to increased firm risk. Working paper, Indiana University. Khurana, I. K. and W. J. Moser. 2013. Institutional shareholders` investment horizons and tax avoidance. The Journal of the American Taxation Association 35 (1): 111-134. Kim, J. B., Li, Y., & Zhang, L. 2011. Corporate tax avoidance and stock price crash risk: firm-level analysis. Journal of Financial Economics 100 (3): 639-662. Lisowsky, P. 2010. Seeking shelter: empirically modeling tax shelters using financial statement information. The Accounting Review 85: 1693-1720. Markle, K. and D. Shackelford. 2012. Cross-country comparisons of corporate income tax rates. National Tax Journal 65: 493-528. Mills, L. 1998. Book-tax differences and Internal Revenue Service adjustments. Journal of Accounting Research 36 (2): 343-356. Rego, S. 2003. Tax avoidance activities of U.S. multinational corporations. Contemporary Accounting Research 20: 805-833. Wilson, R. 2009. An examination of corporate tax shelter participants. The Accounting Review 84: 969-999. Zimmerman, J. L. 1983. Taxes and firm size. Journal of Accounting and Economics 5: 119-149. zh_TW dc.identifier.doi (DOI) 10.6814/THE.NCCU.PF.027.2018.F07 -
