| Summary: | 碩士 === 國立中興大學 === 高階經理人碩士在職專班 === 105 === The international globalization affects the economy growing rapidly. The company seeks the profit. Not only is the company trying to expanding the business and reduce the cost, but also avoid the tax that should be paid. Thus, it will cause the principle of fair taxation. The developed countries in the world are not positive to prevent the improper tax evasion in order to ensure their own taxes won’t be broken up, so that they will achieve account balance.
For the past few years, the domestic enterprises become more international and more diversified, and it’s expanding gradually as well. Our government has to establish and enhance anti-tax avoidance examination in order to consolidate the base of tax. Article 43 of the Income Tax Law has been revised on behalf of the government. Article 43 of 3 and Article of 4 of the Income Tax Law were passed in 2016. The main point of preventing Tax Haven causes deferred effect that is controlled by foreign company and operating system to achieve the principle of fair taxation.
The main purpose of the research is to explore the anti-avoidance clause passed in 2016, and promote Article 43 of 3 (CFC) and Article of 4 (PEM) of the Income Tax Law completely. It will affect the stock market from offshore company that is going to be listed in Taiwan. We use Event Study Methods to build event and estimated period to analyze the approval of anti-avoidance clause and accumulated abnormal returns. We investigate the reasons that caused of accumulating abnormal returns.
The study of this empirical result shows it causes significant Abnormal Returns and Cumulative Abnormal Return for listed F shares that are conformed to the regulations pass anti avoidance provisions. The juridical person for the listed F shares has a master factor.
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