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題名 海外盈餘匯回與稅率差異之關聯性研究
THE STUDY OF THE RELATIONSHIP BETWEEN THE PROFIT REPATRIATION AND THE TAX RATES作者 盧柏廷
Lu, Bo Tin貢獻者 許崇源
盧柏廷
Lu, Bo Tin關鍵詞 股利匯回
國外稅額扣抵
反避稅政策
Dividends repatriation
Foreign tax credit
Anti-tax avoidance日期 2015 上傳時間 27-Jul-2015 11:19:11 (UTC+8) 摘要 本研究探討稅率差異是否會影響台商海外子公司股利匯回。由於台灣目前對於國外稅額扣抵的方法採的是直接扣抵法，與大部分國家所採的國外所得免稅法及間接扣抵法不同，因此對於海外子公司只有在扣繳稅率若高於台灣營利事業所得稅率時，才必須負擔匯回的稅負。本研究將稅率差異的部分，分為海外子公司平均稅率以及扣繳稅率，來觀看在這兩個稅率之下對於股利匯回的影響。研究結果顯示，當國外扣繳稅率高於我國營利事業所得稅率時，其匯回的數目會降低，表示扣繳稅率的確是會阻礙公司股利匯回的一項障礙；但是當海外的平均公司稅率越高，則股利匯回的數目會增加，本研究認為盈餘大部分皆從稅率較高的國家匯回，因此導致這樣的結果。最後本研究將對台灣目前對於股利匯回的稅制進行建議，以健全台灣目前對於企業課稅的稅制。
This study investigates the relationship between the tax rates and the dividend repatriation among the overseas subsidiaries of Taiwanese companies. Due to the adoption of “the direct method” for foreign tax credit, different from other countries, the Taiwanese companies will afford repatriation tax when they repatriate dividends from the countries whose withholding tax rates are higher than Taiwanese corporate tax rate. The difference of tax rates between countries defined in this study consists oftwo parts－average tax rate of overseas subsidiaries and withholding tax rates. And the result is the higher withholding tax rates overseas subsidiaries afford, the lowerdividends are repatriated, which means the withholding tax is the barrier of the dividend repatriation. Another result shows the higher the overseas subsidiaries average corporate tax rates, the more dividend repatriates, which suggests that the dividends repatriate from the countries with higher corporate tax rate. Finally, this study also gives some recommendations for the Taiwanese tax policy about dividendrepatriations in order to reform the corporate tax system.參考文獻 一、中文部分林智聖，2013，臺灣調降營所稅對資金回流影響之實證研究，國立成功大學會計研究所碩士論文。林昭儀、陳一姍，2014，國庫十年流失三千億？，天下雜誌540期蔡振南，2003，台商大陸投資之資金流動與影響，國立成功大學財務金融研究所碩士論文。陳明進，2008，股東可扣抵稅額對我國企業海外股利匯回之影響研究成果報告，行政院國家科學委員會專題研究計畫成果報告。陳明進、陳真伶，2010，企業營運總部租稅優惠對境外股利匯回的影響，台大管理論叢(2010-12第21卷第一期)。許慈美，2014，我國所得稅制度之改革與前瞻─以受控外國公司及實際管理處所為例，財團法人孫運璿學術基金會。蕭貴珠，2012，反避稅法制變革與衝擊，工業總會產業雜誌2012年11月期。二、英文部分Bretschger, L., and F. Hettich. 2002. Globalisation, capital mobility and tax competition: Theory and evidence for OECD countries. European Journal of Political Economy 18 (November): 695-716.Desai, M. A., Foley, C. F., and Hines, J. R. (2001),“Repatriation Taxes and Dividend Distortions,”National Tax Journal, 54 (December), 829-850.Fama, Eugence F. and Kenneth R. French (2001), “Disappearing Dividends: Changing Firm Characteristics or Lower Propensity to Pay, “Journal of Financial Economic 60, 3-43.Foley, C. Fritz, Jay Hartzell, Sheridan Titman, and Garry J. Twite, 2007, Why do firms hold so much cash? A tax-based explanation, Journal of Financial Economics 86, 579–607.Hines, J. R. 2005. Corporate taxation and international competition. Ross School of Business Paper 1026, University of Michigan and the National Bureau of Economic Research.Jensen, M. and W. Meckling (1976), “Theory of the firm: Managerial behavior, agency costs and ownership structure, ” Journal of Financial Economic 3, 305-360Myers, S. C. and N. S. Majluf (1984), “Corporate Financing and Investment Decision When Firms Have Information That Investors Do Not Have, ” Journal of Financial Economic 13, 187-221.Ronen Palan, Richard Murphy, Christian Chavagneux，2010，TAX HEAVENS─ How Globalization Really Works，Cornell University PressRozeff, M. (1982), “Growth, Beta amd Agency Costs as Determinants of Dividends of Dividends Payout Ratios, “Journal of financial Research, 5, 249-259Winner, H. 2005. Has tax competition emerged in OECD countries? Evidence from panel data. International Tax and Public Finance 12 (September): 667-687.Wunder, H. F. 1999. International tax reform: Its effect on repatriation decisions of multinational corporations. Journal of International Accounting Auditing & Taxation 8: 337-351.三、網路資源趙文衡，2004，全球化與賦稅改革，網：http://www.globalpes.com/global/tax.htm陳添枝，2004，企業在台設立營運總部的意義，聯合新聞網，http://www.superlogos.com.tw/paper_document/20040829282.htmDeloitte，2015，Deloitte International Tax Source，Available at: https://www.dits.deloitte.com/Ernst & Young，2012，The 2012 worldwide corporate tax guide，Available at: http://www.ey.com/Publication/vwLUAssets/Worldwide_corporate_tax_guide_2012/$FILE/WCTG_2012_Worldwide_Corporate_Tax_Guide.pdfKPMG，2015，Corporate tax rates table，Available at: http://www.kpmg.com/global/en/services/tax/tax-tools-and-resources/pages/corporate-tax-rates-table.aspxPwC，2015，Worldwide Tax Summaries Online，Available at: http://taxsummaries.pwc.com/uk/taxsummaries/wwts.nsf/ID/tax-summaries-home 描述 碩士
國立政治大學
會計研究所
102353002資料來源 http://thesis.lib.nccu.edu.tw/record/#G0102353002 資料類型 thesis dc.contributor.advisor 許崇源 zh_TW dc.contributor.author (Authors) 盧柏廷 zh_TW dc.contributor.author (Authors) Lu, Bo Tin en_US dc.creator (作者) 盧柏廷 zh_TW dc.creator (作者) Lu, Bo Tin en_US dc.date (日期) 2015 en_US dc.date.accessioned 27-Jul-2015 11:19:11 (UTC+8) - dc.date.available 27-Jul-2015 11:19:11 (UTC+8) - dc.date.issued (上傳時間) 27-Jul-2015 11:19:11 (UTC+8) - dc.identifier (Other Identifiers) G0102353002 en_US dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/76845 - dc.description (描述) 碩士 zh_TW dc.description (描述) 國立政治大學 zh_TW dc.description (描述) 會計研究所 zh_TW dc.description (描述) 102353002 zh_TW dc.description.abstract (摘要) 本研究探討稅率差異是否會影響台商海外子公司股利匯回。由於台灣目前對於國外稅額扣抵的方法採的是直接扣抵法，與大部分國家所採的國外所得免稅法及間接扣抵法不同，因此對於海外子公司只有在扣繳稅率若高於台灣營利事業所得稅率時，才必須負擔匯回的稅負。本研究將稅率差異的部分，分為海外子公司平均稅率以及扣繳稅率，來觀看在這兩個稅率之下對於股利匯回的影響。研究結果顯示，當國外扣繳稅率高於我國營利事業所得稅率時，其匯回的數目會降低，表示扣繳稅率的確是會阻礙公司股利匯回的一項障礙；但是當海外的平均公司稅率越高，則股利匯回的數目會增加，本研究認為盈餘大部分皆從稅率較高的國家匯回，因此導致這樣的結果。最後本研究將對台灣目前對於股利匯回的稅制進行建議，以健全台灣目前對於企業課稅的稅制。 zh_TW dc.description.abstract (摘要) This study investigates the relationship between the tax rates and the dividend repatriation among the overseas subsidiaries of Taiwanese companies. Due to the adoption of “the direct method” for foreign tax credit, different from other countries, the Taiwanese companies will afford repatriation tax when they repatriate dividends from the countries whose withholding tax rates are higher than Taiwanese corporate tax rate. The difference of tax rates between countries defined in this study consists oftwo parts－average tax rate of overseas subsidiaries and withholding tax rates. And the result is the higher withholding tax rates overseas subsidiaries afford, the lowerdividends are repatriated, which means the withholding tax is the barrier of the dividend repatriation. Another result shows the higher the overseas subsidiaries average corporate tax rates, the more dividend repatriates, which suggests that the dividends repatriate from the countries with higher corporate tax rate. Finally, this study also gives some recommendations for the Taiwanese tax policy about dividendrepatriations in order to reform the corporate tax system. en_US dc.description.tableofcontents 表目錄 vii圖目錄 vii第一章、緒論 1第一節、研究動機與目的 1第二節、研究問題 2第三節、研究架構與流程 3第二章、文獻探討 5第一節、盈餘配置因素探討 5第二節、國際間消除重複課稅之規定 6第三節、租稅天堂及反避稅措施 9第三章、研究方法 14第一節、假說發展 14第二節、實證模型設定 15第三節、變數定義與衡量 17第四節、資料來源與樣本選取 20第四章、實證結果與分析 22第一節、敘述性統計 22第二節 共線性診斷 24第三節、相關性分析 25第四節、實證結果與分析 28第五節、敏感性分析 30第五章、結論與建議 36第一節 研究發現 36第二節 研究建議 36第三節 研究限制 37參考文獻 39附錄一：2005年至2012年各國股利扣繳稅稅率 42 zh_TW dc.format.extent 1272510 bytes - dc.format.mimetype application/pdf - dc.source.uri (資料來源) http://thesis.lib.nccu.edu.tw/record/#G0102353002 en_US dc.subject (關鍵詞) 股利匯回 zh_TW dc.subject (關鍵詞) 國外稅額扣抵 zh_TW dc.subject (關鍵詞) 反避稅政策 zh_TW dc.subject (關鍵詞) Dividends repatriation en_US dc.subject (關鍵詞) Foreign tax credit en_US dc.subject (關鍵詞) Anti-tax avoidance en_US dc.title (題名) 海外盈餘匯回與稅率差異之關聯性研究 zh_TW dc.title (題名) THE STUDY OF THE RELATIONSHIP BETWEEN THE PROFIT REPATRIATION AND THE TAX RATES en_US dc.type (資料類型) thesis en dc.relation.reference (參考文獻) 一、中文部分林智聖，2013，臺灣調降營所稅對資金回流影響之實證研究，國立成功大學會計研究所碩士論文。林昭儀、陳一姍，2014，國庫十年流失三千億？，天下雜誌540期蔡振南，2003，台商大陸投資之資金流動與影響，國立成功大學財務金融研究所碩士論文。陳明進，2008，股東可扣抵稅額對我國企業海外股利匯回之影響研究成果報告，行政院國家科學委員會專題研究計畫成果報告。陳明進、陳真伶，2010，企業營運總部租稅優惠對境外股利匯回的影響，台大管理論叢(2010-12第21卷第一期)。許慈美，2014，我國所得稅制度之改革與前瞻─以受控外國公司及實際管理處所為例，財團法人孫運璿學術基金會。蕭貴珠，2012，反避稅法制變革與衝擊，工業總會產業雜誌2012年11月期。二、英文部分Bretschger, L., and F. Hettich. 2002. Globalisation, capital mobility and tax competition: Theory and evidence for OECD countries. European Journal of Political Economy 18 (November): 695-716.Desai, M. A., Foley, C. F., and Hines, J. R. (2001),“Repatriation Taxes and Dividend Distortions,”National Tax Journal, 54 (December), 829-850.Fama, Eugence F. and Kenneth R. French (2001), “Disappearing Dividends: Changing Firm Characteristics or Lower Propensity to Pay, “Journal of Financial Economic 60, 3-43.Foley, C. Fritz, Jay Hartzell, Sheridan Titman, and Garry J. Twite, 2007, Why do firms hold so much cash? A tax-based explanation, Journal of Financial Economics 86, 579–607.Hines, J. R. 2005. Corporate taxation and international competition. Ross School of Business Paper 1026, University of Michigan and the National Bureau of Economic Research.Jensen, M. and W. Meckling (1976), “Theory of the firm: Managerial behavior, agency costs and ownership structure, ” Journal of Financial Economic 3, 305-360Myers, S. C. and N. S. Majluf (1984), “Corporate Financing and Investment Decision When Firms Have Information That Investors Do Not Have, ” Journal of Financial Economic 13, 187-221.Ronen Palan, Richard Murphy, Christian Chavagneux，2010，TAX HEAVENS─ How Globalization Really Works，Cornell University PressRozeff, M. (1982), “Growth, Beta amd Agency Costs as Determinants of Dividends of Dividends Payout Ratios, “Journal of financial Research, 5, 249-259Winner, H. 2005. Has tax competition emerged in OECD countries? Evidence from panel data. International Tax and Public Finance 12 (September): 667-687.Wunder, H. F. 1999. International tax reform: Its effect on repatriation decisions of multinational corporations. Journal of International Accounting Auditing & Taxation 8: 337-351.三、網路資源趙文衡，2004，全球化與賦稅改革，網：http://www.globalpes.com/global/tax.htm陳添枝，2004，企業在台設立營運總部的意義，聯合新聞網，http://www.superlogos.com.tw/paper_document/20040829282.htmDeloitte，2015，Deloitte International Tax Source，Available at: https://www.dits.deloitte.com/Ernst & Young，2012，The 2012 worldwide corporate tax guide，Available at: http://www.ey.com/Publication/vwLUAssets/Worldwide_corporate_tax_guide_2012/$FILE/WCTG_2012_Worldwide_Corporate_Tax_Guide.pdfKPMG，2015，Corporate tax rates table，Available at: http://www.kpmg.com/global/en/services/tax/tax-tools-and-resources/pages/corporate-tax-rates-table.aspxPwC，2015，Worldwide Tax Summaries Online，Available at: http://taxsummaries.pwc.com/uk/taxsummaries/wwts.nsf/ID/tax-summaries-home zh_TW
