為實施最低稅負制，我國特別制定「所得基本稅額條例」，於民國95年開始施行，其政策目的為提升租稅公平，確保國家稅收，使有能力納稅者，對國家財政均有基本的貢獻。本研究探討的問題為上市（櫃）公司有效稅率以及上市（櫃）公司之企業特性，是否影響其加徵最低稅負之機率及加徵最低稅負之金額。 　　本研究實證結果顯示有效稅率較低者，則其加徵最低稅負之機率及加徵稅額愈大，顯示最低稅負制對於有效稅率偏低之上市（櫃）公司，確實可合理提高其租稅負擔。企業規模愈大其加徵最低稅負之機率及加徵稅額愈大。然而，並未有實證結果顯示企業之獲利能力及所屬產業為電子業者，與其加徵最低稅負之機率及加徵稅額為正向之關係。證券交易所得、研發支出比例與加徵最低稅負之機率及加徵稅額為正向之關係。在最低稅負制實施初期應即可減緩對於證券交易所得免稅及研發支出租稅優惠等所帶來稅負不公之現象。 / The Income Basic Tax Act (IBTA) imposes a minimum tax similar to an Alternative Minimum Tax (AMT) and collects a certain amount of minimum tax payment from high-income individuals and enterprises that used to pay disproportionately low taxes or even none. Corporate and individual AMT were first put into the R.O.C. Tax Code in 2006. 　　This study examines the relationship between effective tax rate and AMT tax burden of listed firms. Also, the study investigates the relationship between firm characteristics and AMT tax burden of the listed firms. The empirical results of the study indicate that effective tax rates are negatively related to AMT burden and that firm size is positively related to AMT burden. In addition, tax-exempt capital gains on securities and tax incentive for R&D exependitures, the major elements of the increase in tax liability under AMT, are positively related to AMT tax burden. 　　The results of this study suggest that by raising the tax burden of companies pay lower effective tax rates, the implementation of AMT has yield a positive effect on the fairness of the tax system.

本研究主要目的，即在以迴歸模型量化依最低稅負制納稅企業的投資行為，比較我國依最低稅負制納稅及依一般稅率納稅企業的國內投資金額，進而分析政府在實施新稅制下課徵稅收，是否影響我國企業的投資意願，了解不同產業類別受最低稅負制之衝擊或影響程度。擬以Menzel(1990)研究所採用的模型及假設，以本國國內外企業為研究對象，結果顯示企業的資產或所得兩變數對國內投資有正向影響。其次探討最低稅負制對於企業投資所減少的幅度：於本研究假設下，並無顯著證據證明新稅制會使企業減少其國內投資金額；換言之，最低稅負制政策並不至於顯著影響企業的投資決策。 最後針對企業、政府等部門提出建議供參。首先，針對企業部門而言，無論是國內企業或是跨國投資企業，其對國內、外之投資都不因是否依新稅制納稅而有顯著的變化，表示新稅制並不會造成扭曲國內企業與跨國投資企業於國內投資之決策，當然也不至於影響國內資本的累積，企業於作投資決策的同時，毋須擔心適用不同的稅制是否產生不同的租稅負擔。而對政府部門而言，就本研究所設定的假設條件下，亦證實了最低稅負制不至於影響我國企業的投資決策，對國內投資的影響不大，此結果無疑為近年來國內所推動的新稅制，奠定了強而有力的基礎，政府藉由推行最低稅負制作為進行財政改革的短期方案之一，除可發揮一稅制所應具備的所得重分配效果，使各產業間租稅負擔更趨公平化，未來對於財政部所期望的「配合行政院財政改革方案之中、長期措施，逐步推動實施稅制改革方案，以期達成妥善調整稅制結構、追求稅收穩定與適足、租稅公平與效率」等目標而言，將有莫大的助益。 / The purpose of this dissertation is to document and quantify the impact of investment incentives under the alternative minimum tax (AMT) on domestic corporations’ investment decisions. On the one hand, this research addresses whether new domestic capital investment by AMT corporations is less than that of regular tax corporation; on the other hand, it also examines whether multinational AMT corporations invest less in Taiwan than domestic AMT corporations. With the same models and assumptions used by Mezel’s research method, I find that multinational AMT corporations, compared with multinational corporations paying with regular tax policy, do not exhibit significantly higher levels of foreign investment. This consequence shows that the AMT rules do not significantly influence multinational corporations either to invest less in Taiwan or to substitute foreign for domestic investment. In other words, there is weak evidence that the AMT rules do significantly influence the domestic corporations’investment decisions. The last part of my essay provides some suggestions for the domestic corporations and the relative departments of the government at the same time. First, since the results of this study indicate that, in general, the AMT rules do not affect the investment dicisions of AMT corporations by causing them to invest less in Taiwan, the domestic corporations are not worried about that new tax policy distorts the investment decisions. Further, the results do not indicate any evidence that corporations shift their investments overseas at the expense of domestic ones, which means the incentives described in the analytical research do not exist. Therefore, for the government, policymakers should carefully consider whether any new tax reforms are necessary, such as AMT rules, for pursuing the goals of taxiation stability and adquency in the long run.