我國實施移轉訂價制度對台商利潤制度之影響ㄧ以上市櫃電子業為例

Abstract

移轉訂價（Transfer Pricing），是在規範企業內部間或與其關係企業間，有關資產之移轉與使用、服務的提供及資金之使用等交易之交易價格，應與一般非關係企業間從事相同或相似交易之交易價格相當的一項訂價基本法則。因提供交易之一方所收取之對價收入，即是交易他方所支付之成本費用，故交易價格訂價之高低，將直接影響交易雙方經營利潤之多寡，也隱含著交易雙方對各自主體決定其主要經營或投資績效之重要概念。 我國自2004年12月28日發布「營利事業所得稅不合常規移轉訂價查核準則」實施移轉訂價制度以來，迄今已六年有餘。為了解「我國實施移轉訂價制度對台商利潤配置之影響」，本研究先依據2005年至2008年度之企業申報及稽徵機關查核之實際資料，分析統計歸納出我國實施移轉訂價制度之概況；再以我國「上市櫃電子業」公司為例，自1,519家公司中篩選最終可比較之279家公司，並以排除全球金融風暴影響後之2001年至2007年度之財務資料，採用事件研究法（Event Study）分析，來觀察台商企業在我國實施移轉訂價制度後，其目標比率「在台母公司之營業淨利佔其集團合併營業收入之比率」之變化。 研究結果發現：台商企業在我國實施移轉訂價制度後，其對法令規範之遵循已趨普遍，而在台整體留存利潤的配置也隨之增加，且經採用配對樣本比較檢定（Paired samples T test）之方法，透過統計檢定驗證之結果，更呈現出我國移轉訂價制度之實施，對台商利潤回流有顯著推升效果之影響。

Transfer pricing is the basic pricing principle to govern the prices of transfer and use of assets, provision of services and use of funds within enterprises or affiliates, to be equivalent to prices that unrelated parties would have charged in the same or similar circumstances. As the prices charged by one party is the cost of another party in the transaction, the level of transactional prices has direct impact of the profitability of both parties in the transaction. This also implies the important concept that how both parties in the transaction determine their management and investment return. The “Regulations Governing of Assessment of Profit-Seeking Enterprise Income Tax on Non-Arm's-Length Transfer Pricing” was promulgated on December 28, 2004 and the said Regulation has been enforced in Taiwan for over six years now. To understand the impact of transfer pricing regulations on Taiwanese enterprises’ profit allocation, this Study adopt the 2005 to 2008 actual data reported by enterprises and audited by tax authorities and performed an analysis to outline the practice of Taiwan transfer pricing regulation. This Study then selected 279 comparable enterprises out of 1,519 listed Taiwanese companies in the electronic industry, and adopt the 2001 to 2007 financial information that excluded impact of global financial crisis, and used Event Study analysis method to observe the change in Taiwanese enterprises’ targeted “percentage of Taiwanese parent company’s operating profit to the Group’s consolidated revenue” It is observed that Taiwanese enterprises generally follow the transfer pricing regulations since its promulgation and more profits have been allocated to Taiwan. The statistic result of the Paired samples T test shows a significant increase of profit allocation to Taiwan by Taiwanese enterprises since the practice of transfer pricing regulations.