兩稅合一、最低稅負制對上市公司外資持股比例之影響

• Main Author: 簡怡婷
• Other Authors: 陳明進
• Format: Others
• Language: zh-TW
• Published: 2007
• Online Access: http://ndltd.ncl.edu.tw/handle/91732494641668872595

碩士 === 國立政治大學 === 會計研究所 === 95 === The objective of this study is to examine whether the implementation of the Imputation Tax System and Alternative Minimum Tax System will affect the willing of foreign investors to invest in listed companies. The sample of this study consists of firms listed in the Taiwan Stock Exchange from 1996 through 2006. The empirical results in this research are summarized as follows: 1、 The implementation of the Imputation Tax System and a firms' imputation tax credit ratios have a negative impact on the percentage of foreign ownership in listed companies, but the implementation of Alternative Minimum Tax System has a positive impact on that. We conduct further examination and find the increasing effect of the percentage of foreign ownership is more rely on the effect of stock index than that of the implementation of Alternative Minimum Tax System. Further, foreign investors still prefer to invest in listed companies whose effect rates are lower than 10%. 2、With the implementation of Alternative Minimum Tax System, the use of investment tax credit was restricted. The empirical result of this study shows that after the implementation of Alternative Minimum Tax System, the investment tax credit has a negative but not significant impact on the percentage of foreign ownership in listed companies.