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研究生:李昀錚
論文名稱:地主國租稅環境對跨國企業海外子公司區位選擇的影響—租稅協定的重要性
論文名稱(外文):The Impact of International Taxation on Location Choice of Multinational Firms: Does Tax Treaty Matter?
指導教授:陳香梅陳香梅引用關係
學位類別:碩士
校院名稱:國立政治大學
系所名稱:財政學系
學門:商業及管理學門
學類:財政學類
論文種類:學術論文
論文出版年:2016
畢業學年度:104
語文別:中文
論文頁數:54
中文關鍵詞:區位選擇租稅環境租稅協定租稅協定網絡
外文關鍵詞:Location choiceInternational taxationTax treatyTreaty shopping
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為研究地主國租稅環境對台灣跨國企業海外子公司區位選擇的影響,本文以巢式羅吉特模型研究 2001 年至 2013 年間台灣上市櫃公司海外關係企業(排除金融保險業和 F 股)的資料。相對於過去探討海外子公司區位選擇的文獻僅著重於地主國稅率和地主國是否有反避稅制度(移轉訂價制度和資本弱化條款),本文首度加入租稅協定相關的變數:「地主國是否與台灣簽訂租稅協定」和「地主國租稅協定網絡」,探討兩者與海外子公司區位選擇的關係。
本研究實證結果發現地主國與台灣簽訂租稅協定並不能增加海外子公司在該地設立的機率,反而可能因租稅協定中的資訊交換條款而降低在該地設立子公司的機率;地主國租稅協定網絡愈豐富則是會增加跨國企業在該地設立海外子公司的機率,表示跨國企業可能藉由設立在租稅協定網絡豐富國家的海外子公司,適用該國的租稅協定利益。其他與地主國租稅環境相關變數的實證結果為潛在地主國稅率愈低及無反避稅制度的國家會較吸引海外子公司的設立。
Using nested logit model, the thesis examined the impact of international taxation on location choice of Taiwanese multinational firms from 2001 to 2013. Compared to previous studies that only focused on the impact of tax rate and anti-avoidance legislations (transfer pricing rule and thin capitalization prvision), the thesis focused on the impact of tax treaty, examining the relationship between location choice and bilateral or multilateral tax treaties.
The results showed that countries which had tax treaty with Taiwan did not attract Taiwanese multinational firms, and the possible reason was the exchange of information article in tax treaties. The study also found that the more tax treaties one potential host country had, the higher probability of Taiwanese multinational enterprises setting up subsidiaries in that host country, which suggested that Taiwanese multinational enterprises may have the behavior of treaty shopping. Other results related to tax variables showed that potential host countries with lower tax rate or with no anti-avoidance legislations would attract Taiwanese multinational firms.

壹、 緒論 1
貳、 海外子公司之區位選擇及樣本國之租稅環境 7
一、 海外子公司之區位選擇 7
二、 地主國租稅環境 12
參、 研究方法 23
一、 研究範圍 23
二、 模型設定 23
三、 變數定義與來源 27
四、 敘述統計 33
肆、 實證結果 34
一、 皮爾森相關係數 (Pearson correlation) 34
二、 變異數膨脹因子 (Variance Inflation Factor, VIF) 36
三、 採條件羅吉特模型實證結果 37
四、 採巢式羅吉特模型實證結果 39
伍、 結論及建議 46
參考文獻 48
附錄一 52
附錄二 53

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