政大機構典藏-National Chengchi University Institutional Repository(NCCUR):Item 140.119/71018
English  |  正體中文  |  简体中文  |  Post-Print筆數 : 27 |  全文筆數/總筆數 : 113392/144379 (79%)
造訪人次 : 51223383      線上人數 : 939
RC Version 6.0 © Powered By DSPACE, MIT. Enhanced by NTU Library IR team.
搜尋範圍 查詢小技巧：
  • 您可在西文檢索詞彙前後加上"雙引號"，以獲取較精準的檢索結果
  • 若欲以作者姓名搜尋，建議至進階搜尋限定作者欄位，可獲得較完整資料
    •  進階搜尋


    請使用永久網址來引用或連結此文件: https://nccur.lib.nccu.edu.tw/handle/140.119/71018


    題名: 公司所得稅稅基與外人直接投資─傳統公司所得稅制與公司自有資本扣除制之分析
    Corporate Income Tax Base and Foreign Direct Investment—Traditional Tax Base versus Allowance for Corporate Equity
    作者: 林建誠
    Lin, Charlie
    貢獻者: 陳國樑
    Chen, Joe
    林建誠
    Lin, Charlie
    關鍵詞: 公司自有資本扣除制
    資本使用者成本
    外人直接投資
    allowance for corporate equity
    user cost of capital
    foreign direct investment
    日期: 2014
    上傳時間: 2014-11-03 10:15:25 (UTC+8)
    摘要: 近年來有關公司所得稅根本性的改革討論不斷，目標不外乎希望能達成合理、友善的公司所得稅制，以吸引外人資金到本國投資。根本性賦稅改革方案中的公司自有資本扣除制 (Allowance for Corporate Equity; ACE)，在理論上將公司所得稅推往中立性的利潤稅 (profits tax) 發展，頗為學界推崇 [Mirrlees et al. (2011); OECD (2007a)]。
    本文採用新古典資本使用者成本 (user cost of capital) 理論，討論跨國企業之投資計畫，在不同資金來源以及不同投資方式下，面對母國 (home country) 與地主國(host country) 之公司所得稅制規定，為傳統公司所得稅制或公司自有資本扣除制，對於資本使用者成本、有效邊際稅率 (effective marginal tax rate) 以及有效平均稅率(effective average tax rate) 的影響。
    結果發現，在公司自有資本扣除制下，可將資本的正常報酬 (normal returns) 排
    除於課稅所得，只對超額報酬 (extra normal returns) 課稅。因此，在公司自有資本扣除制下，資本使用者成本與沒有課稅相同，有效邊際稅率為0，使投資量增加。不僅如此，公司自有資本扣除制亦可將公司自有資本比照利息費用得以減除，因此解決了傳統公司所得稅制，權益融資與債權融資租稅待遇不同，導致企業在財源籌措上偏好以債權融資的扭曲行為。在跨國投資決策上，企業會偏好於傳統公司所得稅制
    的國家進行舉債，再將資金投資於實施公司自有資本扣除制的國家。另一方面，當兩國皆實施傳統公司所得稅制時，企業進行跨國投資會產生利息費用重複扣除(double dipping) 的問題，即使改實施公司自有資本扣除制，利息費用只會變成其他的費用型態，仍無法避免費用重複扣除的情況，只能透過簽訂租稅協定來解決此問題。
    參考文獻: Auerbach, A.J. (1983), “Taxation, Corporate Financial Policy and the Cost of Capital,” Journal of Economic Literature, 21, 905–940.
    Baxter, N. (1967), “Leverage, Risk of Ruin and the Cost of Capital,” Journal of Finance, 22(3), 395–403.
    Boadway, R and N. Bruce (1984), “A General Proposition on the Design of a Neutral Business Tax,” Journal of Public Economics, 24(2), 231–239.
    De Mooij, R.A. and M.P. Devereux. (2009), “Alternative Systems of Business Tax in Europe: an Applied Analysis of ACE and CBIT Reforms,” Directorate-General for Taxation and Customs Union, European Commission, Taxation Papers, No.17.
    Devereux, M.P. and R. Griffith.(2003), “Evaluating Tax Policy for Location Decisions,” International Tax and Public Finance, 10, 107–126.
    Devereux, M.P and H. Freeman, 1991. “A General Neutral Profits Tax,” Fiscal Studies, 12(3), 1–15.
    Devereux, M.P. and P.B. Sorensen, (2006), “The Corporate Income Tax: International Trends and Options for Fundamental Reforms,” Directorate-General for Economic and Financial Affairs, European Commission, Economic Papers, No. 264.
    Dunning, J.H. (1981), International Production and the Multinational Enterprise, Allen and Unwin, London.
    European Judgment of the Court (2004), C-315/02.
    http://curia.europa.eu/juris/document/document.jsf;jsessionid=9ea7d2dc30d64a7d5d433e61461ebe06cd576d3e805f.e34KaxiLc3qMb40Rch0SaxuOax90?text=&docid=49408&pageIndex=0&doclang=EN&mode=lst&dir=&occ=first&part=1&cid=449904
    Institute for Fiscal Studies (1991), “Equity for Companies: A Corporation Tax for the 1990s”, Fourth report of the IFS Capital Taxes Group, Commentary No. 26.
    Isaac, J. (1997), “A Comment on the Viability of the Allowance for Corporate Equity,” Fiscal Studies, 18, 303–318.
    Jensen, M. and W. Meckling. (1976), “Theory of the Firm:Managerial Behavior, Agency Costs and Ownership,” Structure.Journal of Financial Economics, 3, 305–360.
    Jorgenson, D.W. (1963), “Capital Theory and Investment Behaviour,” American Economic Review, 53, 247–259.
    Jorgenson, D.W. and Kun-Young Yun (1991), Tax reform and the cost of capital, Oxford University Press.
    Kanniainen, V. and P.M. Panteghini (2008), “Tax Neutrality: Illusion or Reality? The Case of Entrepreneuship,” CESifo Working Paper, No. 2306.
    Keuschnigg, C. and E. Ribi. (2009), “Profit Taxation and Finance Constraints.” Working Paper 05, Department of Economics, University of St. Gallen.
    King, M. and D. Fullerton. (1984), Taxing Income from Capital, Chicago University Press.
    Klemm, A. (2007), “Allowances for Corporate Equity in Practice,” CESifo Economic Studies, 53, 229–62.
    Krugman, P. (1991), “Increasing Returns and Economic Geography,” Journal of Political Economy, 99: 483–499.
    Meade, J. (1978), The Structure and Reform of Direct Taxation: Report of a Committee Chaired by Professor J. E. Meade for the Institute for Fiscal Studies, London: George Allen and Unwin.
    Modigliani, F. and M.H. Miller. (1958), “The Cost of Capital, Corporation Finance, and the Theory of Investment,” American Economic Review, 48, 261–297.
    Modigliani, F. and M.H. Miller. (1963), “Corporate Income Taxes and the Cost of Capital: A Correction,” American Economic Review, 53, 433–443.
    Mirrlees, J., S. Adam, T. Besley, R. Blundell, S. Bond, R. Chote, M. Grammie, P. Johnson, G. Myles, and J. Poterba, (2011). Tax by Design: The Mirrlees Review, Oxford University Press, Oxford, UK.
    OECD (2007a), “Fundamental Reform of Corporate Income Tax,” OECD Tax Policy Studies, No 16.
    OECD (2007b), “Tax Effects on Foreign Direct Investment,” OECD Tax Policy Studies, No 17.
    OECD (2013), Tax Database,
    http://www.oecd.org/ctp/tax-policy/Table%20II.4 _Aug%202013.xlsx.
    Panteghini, P., M.L. Parisi., and F. Pighetti. (2012), “Italy`s ACE tax and Its Effect on a Firm`s Leverage,” Economic Discussion papers, 2012–31.
    Sinn, H.W. (1991), “Taxation and the Cost of Capital: The “Old” View, the “New” View, and Another View,” Tax Policy and the Economy, 5, 25–54.
    Stanley, D.T. and M. Girth. (1971), Bankruptcy: Problem, Process, Reform. Washington D. C.: The Brookings Institution.
    Stiglitz, J.E. (1972), “On Some Aspects of the Pure Theory of Corporate Finance, Bankruptcies Takeovers,” Journal of Economics, 3, 458–482
    Stiglitz, J.E. (1973), “Taxation, Corporate Financial Policy, and the Cost of Capital,” Journal of Public Economics, 2, 1–34.
    Sullivan, M.A. (2011), Corporate Tax Reform: Taxing Profits in the 21st Century, Apress.
    HM Revenue and Customs (2008), A Guide to UK and UK Continental Shelf: Oil and Gas Taxation. http://www.hmrc.gov.uk/international/ns-fiscal3.htm
    U.S. Department of the Treasury (1992), “Integration of the Individual and Corporate Tax Systems Taxing Business Income Once,” Washington D.C. U.S. Government Printing Office.
    描述: 碩士
    國立政治大學
    財政研究所
    101255020
    103
    資料來源: http://thesis.lib.nccu.edu.tw/record/#G1012550201
    資料類型: thesis
    顯示於類別:[財政學系] 學位論文

    文件中的檔案:

    檔案 大小格式瀏覽次數
    020101.pdf1432KbAdobe PDF2693檢視/開啟


    在政大典藏中所有的資料項目都受到原著作權保護.


    社群 sharing

    著作權政策宣告 Copyright Announcement
    1.本網站之數位內容為國立政治大學所收錄之機構典藏，無償提供學術研究與公眾教育等公益性使用，惟仍請適度，合理使用本網站之內容，以尊重著作權人之權益。商業上之利用，則請先取得著作權人之授權。
    The digital content of this website is part of National Chengchi University Institutional Repository. It provides free access to academic research and public education for non-commercial use. Please utilize it in a proper and reasonable manner and respect the rights of copyright owners. For commercial use, please obtain authorization from the copyright owner in advance.

    2.本網站之製作，已盡力防止侵害著作權人之權益，如仍發現本網站之數位內容有侵害著作權人權益情事者，請權利人通知本網站維護人員(nccur@nccu.edu.tw)，維護人員將立即採取移除該數位著作等補救措施。
    NCCU Institutional Repository is made to protect the interests of copyright owners. If you believe that any material on the website infringes copyright, please contact our staff(nccur@nccu.edu.tw). We will remove the work from the repository and investigate your claim.
    DSpace Software Copyright © 2002-2004  MIT &  Hewlett-Packard  /   Enhanced by   NTU Library IR team Copyright ©   - 回饋