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題名 我國建立受控外國公司稅制對上市公司投資中國大陸子公司損益稅負之影響
The Effects of Implementing Controlled Foreign Corporation Tax Regulation on Taxation of Chinese Subsidary Investment Income of Taiwanese Listed Companies作者 陳富枝
Chen, Fu Chi貢獻者 陳明進
Chen, Ming Chin
陳富枝
Chen, Fu Chi關鍵詞 受控外國公司
租稅庇護所
多國籍企業
Controlled Foreign Corporation
Tax Haven
Multinational Enterprise日期 2012 上傳時間 10-Feb-2014 15:03:58 (UTC+8) 摘要 依現行所得稅法規定，只要受控外國公司盈餘未匯回，即可享有「租稅遞延」的效果，由於近十年臺灣利用受控外國公司，對大陸間接投資金額占全部對外投資總額比重超過五成以上，又因上市公司投資金額較大且具有代表性，因此本論文以國內上市公司利用受控外國公司，間接投資大陸子公司為研究對象，探討國內上市公司是否有透過「受控外國公司」不分配盈餘，藉由稅法「漏洞」以產生遞延課稅之效果，及我國若是建立受控外國公司課稅制度，對我國上市公司投資大陸子公司其損益稅負之影響。 本文研究結果，發現國內上市公司利用受控外國公司投資大陸子公司，普遍存在有盈餘卻不分配且不匯回之現象，我國有建立受控外國公司課稅制度之正當性及必要性；且我國如建立受控外國公司課稅制度，以產業別而言電子產業受影響最大，以研發強度而言，研發強度在5%~7%及9%以上之企業有較大之影響。又雖然實施受控外國公司課稅制度後，對於中等規模(資本額50億至100億)之有效稅率增加幅度最大，但受影響而應繳納稅負之金額仍以大型規模之企業為最高。 因此我國建立受控外國公司課稅制度，能拉近不同特性企業間適用有效稅率的差距，對舉債投資得扣除利息費用，境外投資收益卻能遞延課稅，以及在台灣享有研發投資抵減利益，卻有高額境外所得保留在海外未匯回台灣課稅之公司，有一定衡平作用，則我國建立受控外國公司課稅制度，實已非僅財政收入之考量而已，相對而言，改善租稅公平才是具有更大的意涵，因此有其正當性及必要性。文末提出幾點建議，期能作為政府研擬受控外國公司課稅制度之參考。 關鍵詞：受控外國公司、租稅庇護所、多國籍企業
According to the current provisions of the Income Tax Act, Taiwanese companies will benefit from the "tax deferral" by not unremitting overseas earnings of their controlled foreign corporations (CFCs). Since the last decade in Taiwan, many companies have been increasing investments in Mainland China via their controlled foreign corporations, the investment in Mainland China have accounted for over half the Taiwanese total foreign investments. Therefore, this study focuses on the Taiwanese listed companies which invest indirectly in Mainland China. Furthermore, the controlled foreign corporations have become a tax loophole; this study examines whether those listed companies leverage the tax loophole to gain the tax benefit through the "tax deferral of Chinese subsidiary earnings." Besides, this study estimates the potential impacts on the profit and tax costs of the mainland subsidiaries of Taiwanese listed companies, if the controlled foreign corporation (CFC) tax system will be established in the future. The results of this study show that the majority of Taiwanese listed companies do not fully distribute and remit the Chinese subsidiary earnings back to Taiwan. Hence, it is necessary for Taiwan to establish the controlled foreign company tax system to close the tax loophole. As to the impacts on industries, the electronics industries will be most affected by the CFC tax system, if established. In addition, companies whose R&D intensity range from 5% to 7% and over 9% will also be significantly influenced. Although the effective tax rates of medium-sized companies will have the highest increase in effective tax rates, but large companies will have the highest increase in the amount of CFC tax. Therefore, the establishment of CFC tax system will contribute to narrowing down the gaps in effective tax rates between different firm characteristics of companies. Moreover, the new tax system can help prevent companies from shirking their fair shares of tax payments. The establishment of CFC tax system is not just for fiscal revenues, but also for the improvement of tax fairness—the latter being more important. Finally, this study concludes with suggestions that may be the useful references for the government to design CFC tax system in the future. Key words：Controlled Foreign Corporation, Tax Haven, Multinational Enterprise參考文獻 一、中文部分: 王建煊、吳嘉勳(2012)，租稅法34版，台北：華泰文化事業公司。 王瓊荻(2007)，受控外國公司所得稅反避稅課稅制度之研究，逢甲大學財稅研究所碩士論文。 楊偕易(2005)，影響台灣跨國業企業運用租稅天堂之特性分析，政治大學財政學系碩士班論文。 曾嘉文、吳蓮英(1999)，「受控外國公司所得課稅制度之研究」，財稅研究，第31卷，頁97-156。 金世朋、羅能清(2002)，「綜合所得稅改採屬人兼屬地主義之研究」，台北：行政院財政改革委員會。 李顯峰(2009)，所得稅反避稅制度之研究，行政院賦稅改革委員會研究報告。 李顯峰、葛克昌、林世銘(2006)，海外所得課稅相關配套措施之研究，財政部賦稅署95年委託研究計畫。 蘇建榮、賴育邦(2006)，受控外國公司所得課稅制度之研究，財政部95年委託研究計畫。 林妙雀(1992)，「防杜國外控股公司避稅之立法研究」，財稅研究，第24卷第2期，頁45-71。 胡仕賢(2009)，企業運用租稅天堂型態與受控外國公司課稅制度之研究，東吳大學會計學系碩士論文。 吳宗吉(1994)，租稅天堂衍生租稅問題之研究，國立政治大學財政學研究所碩士論文。 徐婉琳(2000)，多國籍企業跨國節稅之實證研究-以我國上市上櫃電子業為例，大葉大學工業關係研究所碩士論文。 陳信宏、孫克難(2002)，免稅天堂投資法令之誘因分析及對投資之影響，台北：經濟部研發會。 張永維(2003)，國際租稅規避與查核之研究，逢甲大學經營管理研究所碩士論文。 二、英文部分: Tanzi, V.(2000), “Globalization, Technological Developments, and the Work of Fis cal Termites,” IMF Working Paper, WP/00/81. Altshuler, R. and H. Grubert (1996), “Balance Sheets, Multinational Financial Policy, and the Cost of Capital at Home and Abroad,” NBER Working Paper No. 5810. Boskin, M. and W. G. Gale (1987), “New Results on the Effects of Tax Policy on the International Location of Investment,” in Martin Feldstein (ed.), The Effects of Taxation on Capital Accumulation, 201-219, Chicago: University of Chicago Press. Bretschger, L., and F. Hettich (2002), “Globalization, Capital Mobility and Tax Competition: Theory and Evidence for OECD Countries,” European Journal of Political Economy, 18, 695-716. Chown, J., M. Edwards-ker (1974), “Tax Havens and offshore Investment Center.” The Banker. Edger, T. (2003), “Corporate Income Coordination as a Response to International Tax Competition and International Tax Arbitrage,” Canadian Tax Journal, 51(3),1079-1158. European Federation of Accountants (2002), “Controlled Foreign Company Legislations in the EU,” FEE Position Paper. Greenleaf, L.（2004）, “National Report Australia,” in M. Lang, et al. (eds.), CFC Legislation：Domestic Provisions, Tax Treaties and EC Law, Vienna：Lime Tree Press. Glautier M. W. E. & Bassinger, F. W. (1987), A Reference Guide to International Taxation, Massachusetts：Lexington. Grubert, H. (1998), “Taxes and Division of Foreign Operating Income among Royalties, Interest, Dividends and Retained Earnings,” Journal of Public Economics, 68, 269-290. Grubert, H. and J. Mutti (1991), “Taxes, Tariffs and Transfer Pricing in Multinational Corporate Decision Making,” Review of Economics and Statistics, 73, 285-293. Hartman, D. (1984), “Tax Policy and Foreign Direct Investment in the United States,” National Tax Journal, 37, 475-487. Hartman, D. (1985), “Tax Policy and Foreign Direct Investment,” Journal of Public Economics, 26, 107-121. Hines, J. and E. Rice (1994), “Fiscal Paradise: Foreign Tax Havens and American Business,” Quarterly Journal of Economics, 109, 149-182. Hines, J. and R. G. Hubbard (1990), “Coming Home to America： Dividend Repatriation by U.S. Multinationals,” in A. Razin and J. Slemrod (eds.), Taxation in the Global Economy, 161-200, Chicago: University of Chicago Press. Mutti, J. (1981), “Tax Incentives and Repatriation Decisions of U.S. Multinational Corporations,” National Tax Journal, 34, 241-248. Miller, R. B. (1988), Tax Haven Investing, Probus Pulishing. Chicago. Rodrik, D. (1997), “Trade, Social Insurance, and the Limits of Globalization,” NBER working paper 5905. UNCTAD (2006), World Investment Report 2006, FDI from Developing and Transition Economies：Implications for Development Overview, New York: United Nations. Wildasin, D. (1988), “Nash Equilibrium in Models of Fiscal Competition,” Journal of Public Economics, 35, 229-240. Wildasin, D. (1989), “Inter-jurisdictional Capital Mobility: Fiscal Externality and a Corrective Subsidy,” Journal of Urban Economics, 25, 193-212. Wilson, D. (1986), “A Theory of Interregional Tax Competition,” Journal of Urban Economics, 19, 296-315. Wilson, D. (1999), “Theories of Tax Competition,” National Tax Journal, 52, 269-304. Wilson, D. and D. Wildasin (2004), “Capital Tax Competition: Bane or Boon,” Journal of Public Economics, 88, 1065-1091. Young, Kan H. (1988), “The Effects of Taxes and Rates of Return on Foreign Direct Investment in the United States,” National Tax Journal, 41, 109-121. Zodrow, G. and P. Mieszkowski (1986), “Pigou, Tiebout, Property Taxation, and the Under-provision of Local Public Goods,” Journal of Urban Economics, 19, 356-370. 描述 碩士
國立政治大學
行政管理碩士學程
100921211
101資料來源 http://thesis.lib.nccu.edu.tw/record/#G0100921211 資料類型 thesis dc.contributor.advisor 陳明進 zh_TW dc.contributor.advisor Chen, Ming Chin en_US dc.contributor.author (Authors) 陳富枝 zh_TW dc.contributor.author (Authors) Chen, Fu Chi en_US dc.creator (作者) 陳富枝 zh_TW dc.creator (作者) Chen, Fu Chi en_US dc.date (日期) 2012 en_US dc.date.accessioned 10-Feb-2014 15:03:58 (UTC+8) - dc.date.available 10-Feb-2014 15:03:58 (UTC+8) - dc.date.issued (上傳時間) 10-Feb-2014 15:03:58 (UTC+8) - dc.identifier (Other Identifiers) G0100921211 en_US dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/63742 - 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) 100921211 zh_TW dc.description (描述) 101 zh_TW dc.description.abstract (摘要) 依現行所得稅法規定，只要受控外國公司盈餘未匯回，即可享有「租稅遞延」的效果，由於近十年臺灣利用受控外國公司，對大陸間接投資金額占全部對外投資總額比重超過五成以上，又因上市公司投資金額較大且具有代表性，因此本論文以國內上市公司利用受控外國公司，間接投資大陸子公司為研究對象，探討國內上市公司是否有透過「受控外國公司」不分配盈餘，藉由稅法「漏洞」以產生遞延課稅之效果，及我國若是建立受控外國公司課稅制度，對我國上市公司投資大陸子公司其損益稅負之影響。 本文研究結果，發現國內上市公司利用受控外國公司投資大陸子公司，普遍存在有盈餘卻不分配且不匯回之現象，我國有建立受控外國公司課稅制度之正當性及必要性；且我國如建立受控外國公司課稅制度，以產業別而言電子產業受影響最大，以研發強度而言，研發強度在5%~7%及9%以上之企業有較大之影響。又雖然實施受控外國公司課稅制度後，對於中等規模(資本額50億至100億)之有效稅率增加幅度最大，但受影響而應繳納稅負之金額仍以大型規模之企業為最高。 因此我國建立受控外國公司課稅制度，能拉近不同特性企業間適用有效稅率的差距，對舉債投資得扣除利息費用，境外投資收益卻能遞延課稅，以及在台灣享有研發投資抵減利益，卻有高額境外所得保留在海外未匯回台灣課稅之公司，有一定衡平作用，則我國建立受控外國公司課稅制度，實已非僅財政收入之考量而已，相對而言，改善租稅公平才是具有更大的意涵，因此有其正當性及必要性。文末提出幾點建議，期能作為政府研擬受控外國公司課稅制度之參考。 關鍵詞：受控外國公司、租稅庇護所、多國籍企業 zh_TW dc.description.abstract (摘要) According to the current provisions of the Income Tax Act, Taiwanese companies will benefit from the "tax deferral" by not unremitting overseas earnings of their controlled foreign corporations (CFCs). Since the last decade in Taiwan, many companies have been increasing investments in Mainland China via their controlled foreign corporations, the investment in Mainland China have accounted for over half the Taiwanese total foreign investments. Therefore, this study focuses on the Taiwanese listed companies which invest indirectly in Mainland China. Furthermore, the controlled foreign corporations have become a tax loophole; this study examines whether those listed companies leverage the tax loophole to gain the tax benefit through the "tax deferral of Chinese subsidiary earnings." Besides, this study estimates the potential impacts on the profit and tax costs of the mainland subsidiaries of Taiwanese listed companies, if the controlled foreign corporation (CFC) tax system will be established in the future. The results of this study show that the majority of Taiwanese listed companies do not fully distribute and remit the Chinese subsidiary earnings back to Taiwan. Hence, it is necessary for Taiwan to establish the controlled foreign company tax system to close the tax loophole. As to the impacts on industries, the electronics industries will be most affected by the CFC tax system, if established. In addition, companies whose R&D intensity range from 5% to 7% and over 9% will also be significantly influenced. Although the effective tax rates of medium-sized companies will have the highest increase in effective tax rates, but large companies will have the highest increase in the amount of CFC tax. Therefore, the establishment of CFC tax system will contribute to narrowing down the gaps in effective tax rates between different firm characteristics of companies. Moreover, the new tax system can help prevent companies from shirking their fair shares of tax payments. The establishment of CFC tax system is not just for fiscal revenues, but also for the improvement of tax fairness—the latter being more important. Finally, this study concludes with suggestions that may be the useful references for the government to design CFC tax system in the future. Key words：Controlled Foreign Corporation, Tax Haven, Multinational Enterprise en_US dc.description.tableofcontents 摘要 I 目次 IV 表次 V 圖次 VI 第一章 緒論 1 第一節 研究動機與背景 1 第二節 研究目的 5 第三節 研究方法及範圍 8 第四節 研究架構 10 第二章 文獻回顧與理論探討 12 第一節 文獻回顧 12 第二節 國際租稅概念與境外所得課稅原則 19 第三節 國際間採行受控外國公司課稅制度之介紹 27 第四節 運用租稅庇護所設立受控外國公司之效益及國際措施 40 第三章 我國建立受控外國公司課稅制度 50 第一節 我國對外投資現行課稅問題探討 50 第二節 賦改會建議及行政院制訂之草案 61 第三節 我國受控外國公司課稅制度相關問題之探討 67 第四章 我國建立受控外國公司課稅制度對上市公司課稅之影響分析 71 第一節 資料來源與樣本 71 第二節 稅負差異之比較分析 78 第五章 結論與建議 95 第一節 研究結論及建議 95 第二節 研究限制 100 參考文獻 101 zh_TW dc.language.iso en_US - dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0100921211 en_US dc.subject (關鍵詞) 受控外國公司 zh_TW dc.subject (關鍵詞) 租稅庇護所 zh_TW dc.subject (關鍵詞) 多國籍企業 zh_TW dc.subject (關鍵詞) Controlled Foreign Corporation en_US dc.subject (關鍵詞) Tax Haven en_US dc.subject (關鍵詞) Multinational Enterprise en_US dc.title (題名) 我國建立受控外國公司稅制對上市公司投資中國大陸子公司損益稅負之影響 zh_TW dc.title (題名) The Effects of Implementing Controlled Foreign Corporation Tax Regulation on Taxation of Chinese Subsidary Investment Income of Taiwanese Listed Companies en_US dc.type (資料類型) thesis en dc.relation.reference (參考文獻) 一、中文部分: 王建煊、吳嘉勳(2012)，租稅法34版，台北：華泰文化事業公司。 王瓊荻(2007)，受控外國公司所得稅反避稅課稅制度之研究，逢甲大學財稅研究所碩士論文。 楊偕易(2005)，影響台灣跨國業企業運用租稅天堂之特性分析，政治大學財政學系碩士班論文。 曾嘉文、吳蓮英(1999)，「受控外國公司所得課稅制度之研究」，財稅研究，第31卷，頁97-156。 金世朋、羅能清(2002)，「綜合所得稅改採屬人兼屬地主義之研究」，台北：行政院財政改革委員會。 李顯峰(2009)，所得稅反避稅制度之研究，行政院賦稅改革委員會研究報告。 李顯峰、葛克昌、林世銘(2006)，海外所得課稅相關配套措施之研究，財政部賦稅署95年委託研究計畫。 蘇建榮、賴育邦(2006)，受控外國公司所得課稅制度之研究，財政部95年委託研究計畫。 林妙雀(1992)，「防杜國外控股公司避稅之立法研究」，財稅研究，第24卷第2期，頁45-71。 胡仕賢(2009)，企業運用租稅天堂型態與受控外國公司課稅制度之研究，東吳大學會計學系碩士論文。 吳宗吉(1994)，租稅天堂衍生租稅問題之研究，國立政治大學財政學研究所碩士論文。 徐婉琳(2000)，多國籍企業跨國節稅之實證研究-以我國上市上櫃電子業為例，大葉大學工業關係研究所碩士論文。 陳信宏、孫克難(2002)，免稅天堂投資法令之誘因分析及對投資之影響，台北：經濟部研發會。 張永維(2003)，國際租稅規避與查核之研究，逢甲大學經營管理研究所碩士論文。 二、英文部分: Tanzi, V.(2000), “Globalization, Technological Developments, and the Work of Fis cal Termites,” IMF Working Paper, WP/00/81. Altshuler, R. and H. Grubert (1996), “Balance Sheets, Multinational Financial Policy, and the Cost of Capital at Home and Abroad,” NBER Working Paper No. 5810. Boskin, M. and W. G. Gale (1987), “New Results on the Effects of Tax Policy on the International Location of Investment,” in Martin Feldstein (ed.), The Effects of Taxation on Capital Accumulation, 201-219, Chicago: University of Chicago Press. Bretschger, L., and F. Hettich (2002), “Globalization, Capital Mobility and Tax Competition: Theory and Evidence for OECD Countries,” European Journal of Political Economy, 18, 695-716. Chown, J., M. Edwards-ker (1974), “Tax Havens and offshore Investment Center.” The Banker. Edger, T. (2003), “Corporate Income Coordination as a Response to International Tax Competition and International Tax Arbitrage,” Canadian Tax Journal, 51(3),1079-1158. European Federation of Accountants (2002), “Controlled Foreign Company Legislations in the EU,” FEE Position Paper. Greenleaf, L.（2004）, “National Report Australia,” in M. Lang, et al. (eds.), CFC Legislation：Domestic Provisions, Tax Treaties and EC Law, Vienna：Lime Tree Press. Glautier M. W. E. & Bassinger, F. W. (1987), A Reference Guide to International Taxation, Massachusetts：Lexington. Grubert, H. (1998), “Taxes and Division of Foreign Operating Income among Royalties, Interest, Dividends and Retained Earnings,” Journal of Public Economics, 68, 269-290. Grubert, H. and J. Mutti (1991), “Taxes, Tariffs and Transfer Pricing in Multinational Corporate Decision Making,” Review of Economics and Statistics, 73, 285-293. Hartman, D. (1984), “Tax Policy and Foreign Direct Investment in the United States,” National Tax Journal, 37, 475-487. Hartman, D. (1985), “Tax Policy and Foreign Direct Investment,” Journal of Public Economics, 26, 107-121. Hines, J. and E. Rice (1994), “Fiscal Paradise: Foreign Tax Havens and American Business,” Quarterly Journal of Economics, 109, 149-182. Hines, J. and R. G. Hubbard (1990), “Coming Home to America： Dividend Repatriation by U.S. Multinationals,” in A. Razin and J. Slemrod (eds.), Taxation in the Global Economy, 161-200, Chicago: University of Chicago Press. Mutti, J. (1981), “Tax Incentives and Repatriation Decisions of U.S. Multinational Corporations,” National Tax Journal, 34, 241-248. Miller, R. B. (1988), Tax Haven Investing, Probus Pulishing. Chicago. Rodrik, D. (1997), “Trade, Social Insurance, and the Limits of Globalization,” NBER working paper 5905. UNCTAD (2006), World Investment Report 2006, FDI from Developing and Transition Economies：Implications for Development Overview, New York: United Nations. Wildasin, D. (1988), “Nash Equilibrium in Models of Fiscal Competition,” Journal of Public Economics, 35, 229-240. Wildasin, D. (1989), “Inter-jurisdictional Capital Mobility: Fiscal Externality and a Corrective Subsidy,” Journal of Urban Economics, 25, 193-212. Wilson, D. 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