中國在經過20多年來持續的經濟改革，已然成為國際直接投資的熱門地區。在外商評估赴中國各地區投資的眾多決定因素中，各地區的租稅優惠條件可能是其重要考量因素之ㄧ。因此，本研究的主要目的，在探討中國地方三資企業增值稅率對吸引外資之間的關係。利用2000-2004年《中國統計年鑑》提供的中國30個地區自2000-2004年的追蹤資料（panel data），本文主要研究結果為，就整體與東、中部而言，地方的三資企業增值稅率對吸引外資並沒有顯著的影響。但是，當中國西部地方的三資企業增值稅率愈低時，即會增加外商直接投資該地區的意願。也就是說，相較於投資於東部及中部區域，外商投資在西部區域，更注重當地政府所能提供的三資企業增值稅率優惠條件。另外，本研究也發現，中國的東、中、西部在吸引外資的決定因素上，存在著相當大的差異。 / After 20 years of economic reforms, China has become one of most popular host countries of foreign direct investment (FDI) in the world. The purpose of this study is thus to investigate whether or not the value-added tax rate plays an important role in the level of regional FDI in China. Using official provincial-level panel data during 2000-2004 from China Statistical Yearbook and empirical model, the main finding of this study is that in general the value-added tax rate does not affect the level of regional FDI. However, as categorizing all regions into eastern, central, and western areas and estimating the regression for respective area, the influence of the value-added tax rate on the level of regional FDI exists in the western area. In addition, the determinants of the level of regional FDI are quite different among three areas.

新企業所得稅法實施後，內外資企業所得稅法被統一，不一致的情形被消弭，稅收優惠的政策也從對外資企業的普遍優惠制轉變成以產業為導向。凡此種種改變，皆對中國大陸上市企業之有效稅率產生影響。本文以2003年-2010年中國大陸上市企業的財務資料做實證研究。 本文主要研究的課題有三：一、探討新企業所得稅法實施前後稅前扣除規定對有效稅率的影響；二、新企業所得稅法中規定的反資本弱化條款對企業有效稅率是否有影響？；三、內外資企業所得稅兩稅合一之後，各地區是否仍有顯著的稅境差異？ 第一個課題用兩個變數來捕捉，一個是薪資費用，一個是營運費用。薪資費用在內外資企業所得稅兩稅合一前與有效稅率為負相關。本文推論該情形因為高階管理人員的薪資沒有正常列報，而可能的原因有三：一、租稅規劃原因，二、避免薪酬過高引起社會各界關注，故分配在各個關係企業，三、國家對國有企業的高階管理人薪資有限制。 營運費用在內外資企業所得稅兩稅合一前與有效稅率為正相關，與假說預計情況相同。這部分可用財稅差異的觀點來解釋。而內外資企業所得稅兩稅合一之後，應納稅所得額的計算規則更為公平合理，故營運費用對有效稅率的影響為負相關。第二個課題是討論資本弱化條款的問題。內外資企業所得稅兩稅合一之後，該變數之係數呈現顯著正相關，代表中國大陸在內外資企業所得稅兩稅合一之後，反避稅措施的實施已然有些成效。 第三個課題是稅境差異的問題。本文地區性虛擬變數的設置以西部地區為對照組。內外資企業所得稅兩稅合一之前，較明顯享受稅收優惠政策的地區是西部地區與經濟特區，故東部地區與中部地區的係數顯著為正，而經濟地區呈現不顯著的狀態。內外資企業所得稅兩稅合一之後，地區別的稅收優惠政策只剩下西部地區中的鼓勵類產業才能享受，而實證結果也明確顯示中國大陸政府預期的結果。 / After new enterprise income tax law enacted , income tax law applicable to both domestic and foreign-owned enterprise are unified,the difference between those income tax law are gone. The new law scraps the original emphasis on regional incentives in favor of industry-oriented incentives supplemented by regional ones . All of these changes affect corporate effective tax rates of China Listed companies . This study used the sample of china listed companies spanning from 2003-2010. This study have three main topics : First, to discuss how the pre-tax deduction rules affect corporate effective tax rates before and after implementation of the new law. Second, does the anti-thin capitalization rule in the new law have some effect to corporate effective tax rates? Third, after implementation of the new law,are there still big difference between regions? This study used two variables to examine first topic-salary expense and operating expense. Salary expense had a negative correlation with corporate effective tax rates before implementation of the new law. I consider it came from salary information disclosure of senior executives which could be explained in three ways. First, tax planning purpose. Second, in case of drawing attention from publics, part of salary were paid by affiliated companys. Third,the country imposed caps on senior executive pay in state-owned enterprises. Operating expense had a positive relation with corporate effective tax rates before implementation of the new law which is the same as hypothesis. It could be explained in terms of book-tax differences. After implementation of the new law, rules for computation taxable income are more fair and reasonable. As a result, operating expense has a negative relation with corporate effective tax rates. The second topic discuss about anti-thin capitalization rule.After implementation of the new law, the variable standing for anti-thin capitalization rule is significantly positively correlated with corporate effective tax rates.It represents that, after implementation of the new law, China authorities make progress in anti-tax avoidance. The third topic is about tax burden between regions. This study used western region as a control group. Before implementation of the new law, preferential tax policies were subject to western region and Special Economic Zones. For this reason, the region dummy variables—central China and east China were significantly positively correlated with corporate effective tax rates, but the coefficient of western region dummy variable did not reach statistical significance. After implemention of the new law, preferential tax policies is subject only to domestic enterprises belonging to the category encouraged by the State in western region. The empirical results conform to the anticipation of China authorities.