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    政大機構典藏 > 商學院 > 會計學系 > 學位論文 >  Item 140.119/30155
    Please use this identifier to cite or link to this item: https://nccur.lib.nccu.edu.tw/handle/140.119/30155


    Title: 土地增值稅減半徵收對公司土地交易之影響
    The impacts of Land Value Increment Tax cut on corporate land transactions
    Authors: 徐有德
    Hsu,Yo-Teh
    Contributors: 陳明進
    徐有德
    Hsu,Yo-Teh
    Keywords: 土地增值稅
    土地增值稅減徵
    土地交易
    盈餘管理
    Land Value Increment Tax
    Cut on Land value Increment Tax
    Land transactions
    Earnings management
    Date: 2003
    Issue Date: 2009-09-11 17:21:26 (UTC+8)
    Abstract: 土地增值稅自民國九十一年二月一日起兩年內減徵百分之五十(民國九十三年一月又延長一年至九十四年一月三十一日止)。以往研究發現,當稅制改變時,股市會反應稅制變動所帶來的影響,但鮮少有研究探討稅制變動是否帶來公司實際交易改變之影響。本研究針對土地增值稅減半徵收對我國上市櫃公司土地交易的影響進行實證分析。研究結果發現(1)在減徵政策宣布之後,但實際生效之前,我國上市櫃公司傾向延後處分所持有的土地(2)整體統計資料顯示,土地增值稅減徵政策有助於刺激上市櫃公司進行土地交易以及處分具有較高未實現持有利得之土地之現象,但實證迴歸的結果並不支持。(3)本文實證迴歸結果顯示,營業虧損的公司以及擁有較多出售用土地的公司較會在土地增值稅減徵期間進行土地交易。
    基於上述實證結果,本文推論,在減徵正式實施後所增加的土地交易,其背後的動機多為彌補本業虧損或藉由在減徵期間進行土地交易,墊高土地成本以降低未來租稅負擔。因此,由我國上市櫃公司土地交易情形觀之,此次土地增值稅減徵對於欲達到刺激經濟成長的目標,成效並不顯著。
    The Land Value Increment Tax (LVIT) has been halved for two years from Feb. 1, 2002. (The tax cut policy has been extended from two years previously to three years until Jan. 31, 2005). Prior studies found that the impacts of change in tax rate will be reflected on company stock prices, but fewer studies were aimed at the impacts of change in tax rate on real transactions. This study examines the impacts of LVIT cut on Taiwan’s listed and OTC companies land transactions. It is found that (1) According to the empirical results, listed and OTC companies deferred their land transactions after the announcement of the tax cut policy. (2) Based on the descriptive statistics results, it is found that the tax cut policy induces listed and OTC companies to sell land in the implementation period and to postpone selling land with higher holding gains during the announcement period to gather greater disposal gains. However, the regression results do not support the same conclusions. (3) The empirical results of this study provides evidence that higher Land-for-sale and Operating loss are important motives behind increased land transactions by listed and OTC companies in response to the tax cut policy.
    Based on the above-mentioned empirical results, this study infers that, as a result of the LVIT cut, the motives behind increased land transactions conducted by listed and OTC companies are for the purpose of reducing tax burden in the future or covering loss from operating activities. Consequently, this tax cut policy contributes little to efforts to stimulate economic upturn, since most of the listed and OTC companies only take advantage of the policy to gather tax benefit or to cover loss -- a development that is not beneficial for overall economic growth.
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    Chou, Y. J. 2001. The questionable consequences of Land Value Increment Tax Cut Policy. Tax affairs 1807: 26-29, (in Chinese). 周亞杰,2001,減徵土地增值稅的疑慮,中國稅務旬刊,第一八○七期:26-29。
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    Hsiao, H. S. 2002. A study on earnings management of earning-declining companies. Doctor thesis, Graduate Institute of Accounting, National Cheng Kung University, (in Chinese). 蕭信義,2002,業績衰退公司盈餘管理之研究-以上市公司為例,國立成功大學會計研究所未出版博士論文。
    Hsieh, M. R. 2001. The study of a tax cut on the Land Value Increment Tax, National policy forum 1 No8: 27-40, (in Chinese). 謝明瑞,2001,「土地增值稅減半徵收的探討」,國家政策論壇,第一卷,第八期:27-40。
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    Hsu, Y. C. 2003. The Drivers of Non-operating Income. Mater thesis, Graduate Institute of Accounting, National Changhua University of Education, (in Chinese). 許雅琪,2003,營業外損益動因分析之研究,國立彰化師範大學會計研究所未出版碩士論文。
    Hua, Y. C. 1999. Research of tax on land holding, under consignment of the Taxation Agency, Ministry of Finance, (in Chinese). 華昌宜,1999,「土地持有課稅制度之研究」,財政部賦稅署及稅制委員會委託研究。
    Kuan, M. S. 1993. An Empirical Investigation of the Association between Disposal of Long-Term Assets and Earnings Manipulation. Mater thesis, Graduate Institute of Accounting, National Taiwan University, (in Chinese). 管夢欣,1992,長期性資產出售交易與盈餘操縱行為之關聯性實證研究,國立台灣大學會計研究所未出版碩士論文。
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    Lee, L. C. and Huang, Y. C. 2001. Consideration of Land Value Increment Tax adjustment, Tax affairs 1791: 12-16, (in Chinese). 李禮仲及黃怡靜,2001,調整土地增值稅之思維,,第一七九一期:11-16。
    Lin, I. L. 2002. With the analysis of policy theory to see a 50% tax cut on the Land Value Increment Tax .Tax affairs 1838: 17-21, (in Chinese). 林愛莉,2002,從政策理論分析土增稅減徵二年,中國稅務旬刊,第一八三八期:17-21。
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    Description: 碩士
    國立政治大學
    會計研究所
    91353040
    92
    Source URI: http://thesis.lib.nccu.edu.tw/record/#G0091353040
    Data Type: thesis
    Appears in Collections:[會計學系] 學位論文

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