鑒於過去文獻可知，由於同一地區內的鄰近住宅擁有相同區位及市場特性，因而不動產價值存在高度相依性。空間相依性的產生往往是因為近鄰區域內的住宅有相似的建築結構（往往在同一個時間所興建），以及享有相同社會服務。由於建商在產品策略決策上會參考同一時間內鄰近競爭個案的產品策略，所以鄰近的新推個案會有相似的建築特徵以及相似的產品訂價。因此新推個案的訂價與鄰近的個案產生相關性，而新推個案訂價的相依性程度也會隨著時間距離遞減。 　　本文的目的在於將空間和時間的相依性最適地納入新推個案的訂價模型。採用582個台北市建商推案樣本進行實證。本研究分別以Moran’s I值和LISA值兩項指數來檢測空間自相關，並且比較傳統OLS迴歸模型、空間落遲模型，以及空間誤差模型三個模型的預測能力。此外，我們以不同的空間和時間的加權矩陣納入空間誤差模型中討論。 　　研究結果顯示，考量空間相依性之空間迴歸模型其解釋能力明顯優於一般傳統迴歸模型。而比起空間統計模型，時空迴歸模型更可以提高估計新推個案訂價的準確性。此外，研究結果亦顯示考慮時空交互影響的時空迴歸模型乃為新推個案訂價的最佳推估模式。 / It is well-known from the literature that the values of real estates are highly dependent on their locational and market characteristics of the buildings in adjacent areas. Spatial dependence mainly derives from factors that buildings at nearby properties have similar structural features (which were often developed at the same time) and often share the same social welfare. As developers in making decisions on product strategy will make reference to the strategy of nearby products of competitive cases which developed during the same time, therefore, within a certain period of time, the adjacent new construction will often have similar construction attributes as well as similar products pricing. Not only the pricing of a new construction is likely to be related to the pricing of adjacent new construction, but also the pricing of a new construction would be prone to autocorrelation decays in accordance with time distance. The aim of this paper is to analyze on how to take this temporal and spatial dependence into account in the pricing model of the new construction in the most appropriate way. We use a database of 582 asking prices of real estate developers in Taipei city. Two indices for measuring spatial autocorrelation are considered including (i) Moran’s I Index and (ii) LISA’s Index. We compared the predictive ability of three models including (i) OLS model, (ii) spatial lag model, and (iii) spatial error model. Moreover, we discussed the different temporal and spatial weight matrices in the spatial error model. According to our research results, we concluded that spatial statistical models obviously perform better than the traditional OLS model. Temporal and spatial statistical models would provide more accurate predictions on the pricing of a new construction than spatial statistical models do. The research result reveals that the best pricing model of the new construction is temporal and spatial statistical models which include temporal and spatial correlation.

我國移轉訂價查核制度，係為防止營利事業與關係企業或關係人間藉不合交易常規之安排規避或減少納稅義務之制度，及為使我國所得稅制與國際潮流趨勢接軌，財政部於93年12月28日訂定發布「營利事業所得稅不合常規移轉訂價查核準則」，建立不合交易常規之認定標準暨相關調整方法，使徵納雙方有共同遵循之依據，乃我國所得稅查核之一項重大建制。 移轉訂價，指營利事業從事受控交易時所訂定之價格或利潤。其查核制度，為徵納雙方辦理所得稅申報及核定時，評估受控交易之結果是否符合常規共同遵循之依據。制度規範不僅是企業應負之協力義務，為創造企業本身更大價值及降低稅務風險，似應善用移轉訂價分析文件，使其成為衡量管理績效之利器。 本論文以採用可比較利潤法之公司為例，主要探討可比較對象一致程度，作為移轉訂價分析可信賴程度之判斷指標。研究建議如下： 一、申報書增列受測個體、受測活動、常規交易方法、可比較對象、利潤率指標、常規交易範圍及集團企業總利潤分配情形等欄位。 二、受控交易之結果達所得額標準以上，即以其原申報額為準核定，若同時符合避風港法則之主體要件者，得以其他文據取代移轉訂價報告。 三、對採用可比較利潤法之公司，於專案查核時，應注意利潤率指標之計算錯誤或誤植及年數誤用，其他資料漏列及資本調整錯誤等情形。 四、以可比較對象一致程度與受控交易結果在四分位距兩者之落點，作為移轉訂價分析可信賴程度之判斷指標。 五、若判斷指標顯示移轉訂價分析可信賴程度偏低者，建議以重組後可比較對象，建立四分位距範圍，測試有否藉更換可比較對象操作受控交易之結果。 關鍵詞：移轉訂價、關係企業、常規交易方法 / The purpose of our transfer pricing investigation system is to prevent a profit-seeking enterprise and its related parties avoid or reduce its income tax liabilities by means of arranging non-arm’s length transactions. For past few years, more and more countries had already planned and set up a transfer pricing investigation system. In order to make our tax regulations more correspondent with international trends, the MOF promulgated “The Regulations Governing Assessment of Profit-Seeking Enterprise Income Tax on Non-Arm’s Length Transfer Pricing” on 28th December, 2004. The established identifying standards and corresponding adjusting methods of non-arm’s length transactions provide taxpayers and tax authorities a common basis, so this is an quite important system. Transfer pricing shall mean the price or profit in controlled transactions conducted by profit-seeking enterprises. The regulation provides a common basis to assess whether the result of controlled transactions corresponds with the arm’s length principle while filing and assessing an income tax return. Except imposing obligations on enterprises, the regulation also adds values and decreases tax risks of enterprises. Furthermore, since it seems to be able to enhance the altitude and breadth by making good use of these analytical data, it can be a good tool to measure management performance. As an indicator of transfer pricing analytical reliability and auditing depth of tax authorities, this essay chooses enterprises that adopt Comparable Profit Method as exploring samples to analyze the consecutive-three-year consistency of their comparable objects . The suggestions are as follows： 1.We can add columns in tax returns for taxpayers to fill in arm’s length methods, comparable transactions, tested parties and tested activities, the arm’s length range, and total profits distribution among group companies. 2.Where the results of controlled transactions are higher than the standards of income, tax authorities can directly assess the transfer prices according to taxpayers’ filing data. 3.Where the results of controlled transactions are higher than the profit standard of the same trade and qualified for standards of safe harbor, the transfer pricing report can be replaced with other evidentiary documents. 4.We can take the consistency of the comparable objects and the range between the 25th to the 75th percentile of the results of controlled transactions as an indicator to judge the reliability of transfer pricing analysis. 5.When auditing enterprises that adopted Comparable Profit Method, we should notice the miscalculation of profit level indicators, misusage of time period, and the wrong ways of capital adjustment. Key words：transfer pricing, associated enterprises, arm’s length method

本研究結果的重點如下：一、各樣本金融機構經由模型計算出的費率差異 頗大，顯示財務結構的不同，確實應課收不同保費。而現行的單一費率對 於好壞金融機構收取的費率一視同仁無法反應金融機構其經營風險的差異 ，也就無法避免低風險金融機構補貼高風險金融機構的弊病。因此應實施 差別費率較為合理。二、根據研究結果顯示，若以金融機構性質為分類， 其費率估計負擔由低至高依序為：一般民營銀行、國家行局、省市屬行庫 、民營中小企業銀行、信託投資公司、外商銀行、信用合作社、漁會信用 部、農會信用部。而此法的一大優點在於可對個別機構評估其相對風險性 的高低，即可依各自經營情況、組織結構分別評估其風險，以達精算上的 合理性。三、由各家樣本金融機構應負擔之估計存保費率可知，只要金融 機構資產結構稍有不同，便會使存保公司的負擔不同。換言之，因金融機 構體質的互異，其為存保公司所帶來的承保風險也有別，為避免資源配置 不當的缺失，實施以個別金融機構風險為基礎的差別費率是較公平、合理 的方式。四、承保比率亦是影響費率估計的一項因素，由實證可知承保比 率對費率估計有顯著的影響。即承保比率高的金融機構，其估計費率與全 部承保時的差異較小；承保比率低者，其估計費率與全部承保時的差異較 大。

本研究旨在檢視我國無形資產移轉訂價之相關規定是否完備，並藉由外國立法例與案例之借鏡，據以針對未盡完備之處進行深入之探討，以作為我國未來制定或施行相關規範之參考。 首先，本研究以無形資產為範圍，對於主要國家與我國無形資產移轉訂價制度加以比較，以瞭解我國相關規定不足之處。研究結果發現，我國關於成本分攤協議之規定最為欠缺，因此本研究亦以上述之主要國家為參考對象，彙整與分析可參考之內容，擬具我國未來制定成本分攤協議相關規範之框架。經由本研究之整理，我國未來制定成本分攤協議相關規範所應著重之主要項目包括定義、應分攤之成本、合理預期收益、成本與收益之比率相符、參與者之異動與協議之終止、稅捐稽徵機關之調整、租稅待遇、協議內容以及稽徵行政等九大項目。 其次，借鑒相關案例之爭議與本研究之設想，本研究擬定我國未來制定或施行成本分攤協議之法規所可能面臨之問題或應考量之事項，分為稅務面、法制面與稽徵行政面，並據以提供相關建議。稅務面主要可分為分攤協議之成本、使用協議所開發之無形資產、成本分攤給付以及買進與買斷給付之稅務處理，法制面為應考量制定之法律位階與訂定內容之相關配套措施，稽徵行政面則須評估預審制度之效益、權責單位之規劃與其保密義務之限制、專責人員之專業素養與獨立性以及對於成本分攤協議進行技術輸出管制之重要性。 / This research examines whether the transfer pricing regulations of intangible assets in Taiwan are sufficient or not. It focuses on lack of regulations pertaining to cost sharing arrangements (CSA) in Taiwan. With the references to foreign legislations and cases, the research further discusses the legislation defects and provides suggestions for Taiwan’s legislatives as to enactment or enforcement of related regulations in the future. Specifically, this research locates the legislation deficiencies by comparing transfer pricing systems of intangible assets between major countries and Taiwan. Examples of such major countries are used as a framework of CSA regulations for Taiwan. This framework covers the following main items: definition of a CSA, intangible development costs (IDC), reasonably anticipated benefits (RAB), the consistency between IDC shares and RAB shares, changes in participants and the termination of CSAs, adjustments by tax administrations, tax treatment of CSAs, elements of a CSA, and administration of tax collection. Based on the above analysis and controversies of related cases, this research points out problems that may arise and issues that should be considered when CSA regulations are to be enacted or enforced in Taiwan. Such problems and issues can be separated into three aspects, namely, taxation, legal system, and administration of tax collection. The research concludes by offering suggestions on each aspect. For the taxation aspect, the tax treatment relating to certain conditions should be contemplated, including IDC shared by each participant in a CSA, exploiting the intangible assets developed by a CSA, cost sharing transaction payments (CST payments), and buy-in/buy-out payments. With regard to the aspect of legal system, the legal position and supplementary measures of CSA regulations should be taken into account. As to the aspect of administration of tax collection, many factors should be taken into consideration, such as assessing the feasibility and benefit of issuing a CSA advance ruling, determining the appropriate tax authorities in charge of CSAs, training and developing qualified tax officials to audit CSAs, and controlling the technologies export via CSAs.

本研究針對移轉訂價制度在電子商務環境中是否產生適用上的問題、以及是否產生新型態的交易模式來進行探討，以了解現行之移轉訂價規範是否仍適用於電子商務環境。本研究首先透過文獻分析法與比較分析法，將電子商務移轉訂價相關之文獻加以整理與分析，了解移轉訂價在電子商務環境中所可能產生的適用問題，並比較各國對電子商務移轉訂價之態度與作法；接著根據電子商務的特性，提出跨國企業可能的電子商務移轉訂價交易模式。而後採用深入訪談法，針對可能的適用問題與可能的交易模式作為訪談主題，邀請五位產、官、學界之代表進行訪談，以了解實務面的觀點與處理方式，並改善本研究所提出之交易模式。 / 依據文獻彙整及訪談結果顯示，移轉訂價制度在電子商務環境下，仍應適用與傳統商務一致之常規交易原則。針對受控交易進行功能與風險分析，以找出合適之可比較對象並選定最適之移轉訂價方法，來判斷受控交易是否符合常規交易原則。此外，對於電子商務移轉訂價所可能產生的問題，包含可比較對象之找尋、移轉訂價方法之選擇、價值創造中心之決定、租稅天堂的運用、電子商務特性之影響、以及交易軌跡消失之疑慮等方面，皆不至於重大影響移轉訂價制度的運作；電子商務僅係提供另一道交易媒介，使得交易變得更有效率，並未改變受控交易之經濟實質與交易本質。因此，移轉訂價規範不論在傳統商務或電子商務的環境中，皆可一體適用，不因電子商務的加入而須加以改善或修正。 / To know if the existing transfer pricing guideline could still apply to the environment of electronic commerce or not, this study aims to inquire into related issues of the transfer pricing under e-commerce activities, including whether it will bring any possible problems or result in new transaction models or not. First of all, documentary analysis and comparative analysis are applied to compile and analyze the literature related to transfer pricing in e-commerce. It helps to understand possible problems that will occur when applying it in e-commerce and to compare the different ideas and manners of practicing transfer pricing in e-commerce between certain countries. Also, probable transaction models will be proposed according to the characteristics of e-commerce. Secondly, in-depth interviews are used to probe into transfer pricing in e-commerce activities more thoroughly. Possible problems and transaction models of application are the main theme of interviews, and five representatives from the industrial circle, the government, and the academia are the major interviewees of the study. The purpose of in-depth interview is to figure out perspectives and actions of the practical aspect and to improve the transaction models proposed by the study. / According to the results of literature review and interviews, even in e-commerce conditions, the transfer pricing guideline can also apply to the arm’s length principle, the same as the traditional commerce does. As for the function and risk analysis of controlled transaction, which helps to figure out comparable uncontrolled transaction and to decide on the proper transfer pricing methodologies, it is applied to judge if controlled transaction could comply with the arm’s length principle. As for the function and risk analysis of controlled transaction, which helps to figure out comparable uncontrolled subjects and to decide on the proper transfer pricing methodologies, it is applied to judge if controlled transaction could comply with the arm’s length principle. Furthermore, possible problems that would arise in the course of e-commerce transfer pricing, including a search for the comparable uncontrolled transaction, the adoption of transfer pricing methodologies, the decision of value creation center, the utilization of tax heavens, the effects of e-commerce characteristics, and doubts about disappearance of the transaction track, all have no great influences upon the operation of transfer pricing guideline. E-commerce provides another medium of exchange to make transactions more efficient without changing the financial essence and transaction quality. In a word, the transfer pricing guideline can both apply to traditional commerce and e-commerce conditions. It is not necessary to improve or adjust the transfer pricing guideline even when involving in the issue of e-commerce.

競爭激烈的市場上，產品差異化不再是銷售萬靈丹，廠商愈來愈注重維持與現有客戶的關係。關係行銷時代，企業想與其目標客戶建立緊密之關係，而「品牌」就是用來連結企業與顧客間之橋樑。品牌最重要的任務是與消費者建立關係，成功的品牌可以和顧客建立緊密關係。 / 本論文之研究目的在於探討訂價策略符合品牌關係規範與否，會如何影響消費者對訂價策略與品牌整體之評價。研究採用2x2實驗設計的方式，測試在不同關係情境（共榮關係、交易關係）及不同訂價方案（收費、不收費）下，消費者對該品牌之評價有何差異。研究發現品牌訂價方案違犯品牌關係規範時，消費者會給予品牌較差之評價。建議與客戶建立品牌關係後，企業一切活動需要密切遵守關係規範。廠商要努力維護良好品牌關係，進行遵守品牌關係規範之訂價方案與品牌活動。企業唯有密切遵守與顧客間應有之關係規範，這樣才能增加顧客對品牌之信任。企業應同時採取關係行銷策略，讓消費者願意跟品牌建立更親密之關係，甚至進而成為品牌之忠誠客戶。企業需維持忠誠顧客群之穩定度，並建立顧客資料庫，以便企業對其目標市場之客戶需求有更深入的認識，即時推出差異化產品滿足顧客需求，同時提升為消費者創造價值的能力。 / In the competitive market where product differentiation wouldn’t guarantee sales, companies care more about the relationships with their customers. At the age of relationship marketing, “brand” is the bridge to connect with the customers. Building relationship with the consumers is an important function of the brand. / The result of the experiments shows that a pricing strategy that is in violation of a relationship norm leads to a poorer evaluation by the consumers relative to the strategy that conforms to the relationship norm. People in a communal relationship evaluate the brand and its actions more positively when the action is in keeping with communal norms than when the action is in violation of communal norms.It’s suggest that once the brand build the relationship with their customers, in order not to hurt the relationship the brand’s actions should firmly comform to the brand relationship norms. Norm violation will cause consumer’s negative evaluation toward our brand. And consumers’ responses wew not limited to the specific brand’s action but extended to their overall brand evaluations as well. Companies should maintain the comformity between brand actions and their relationship norms which can keep the long-term relationship with the customers.

本研究擬檢視針對智慧財產移轉訂價稅制是否齊備，藉由外國稅法制度以及實務案例作為台灣修法借鏡，針對我國法制尚未臻完備之處進行探討，以作為未來修法之參考；並以納稅義務人角度，針對以智慧財產為標的之情形模擬租稅規劃安排。 首先，本研究以智慧財產為主軸，就我國目前現有移轉訂價制度先行探討，再納入美國以及中國稅制進行比較分析，以衡量我國目前稅法未完備之處。本研究結果發現，針對智慧財產移轉訂價稅制，我國尚缺乏成本分攤協議規範、智慧財產所有權人認定、可比較交易內容之資料庫等規範內容，得以美國為借鏡，作為我國未來制定相關規範之框架，盡速彌補相關智慧財產移轉訂價法制不足之處，以利徵納雙方適用。 再者，智慧財產移轉訂價為一相當實務且國際化之議題，借鏡於實際爭訟案件爭點，可作為未來我國修法規範之考量；由於台灣以研究發展見長，企業擁有許多高價值的智慧財產，未來該等轉讓或授權所牽涉的金額將更為龐大，屆時租稅規劃將為重要考量，故本文模擬數個例子，為該等企業先行作基礎租稅規劃。 最後，綜上所述，提出個人修法建議，希冀能為我國智慧財產移轉訂價稅制實務徵納以及修法方向作出一點貢獻。

由於運用特徵價格模型探討影響不動產價格之變數，國內外相關之文獻數量甚為豐富，但對於影響議價空間比率之變數，較少有研究者探討，由於議價空間比率影響賣方及買方之訂價或出價策略與對成交價格之預期，另對於估價人員採用市場比較法時，僅得待售案例時之情況調整亦有所幫助，故本研究試圖從蒐集相關不動產成交案例，探討有關影響其議價空間比率之變數。 因本研究之資料範圍鎖定成屋且透過仲介成交之案件，故透過與仲介經紀從業人員之訪談並與文獻回顧相關理論作相互印證，廣納可能之變數，並搜集台北市、縣成屋實際委託價格及交易資訊。將訪談蒐集所得之交易價格資料及變數，運用Excel 及SPSS統計軟體，透過敘述統計、相關係數分析、折線圖分析、特徵估價法之多元廻歸模型等方法，分析影響議價空間比率之因素，及其影響之程度。 實證結果發現：影響議價空間比率之顯著變數如下： （一）區位變數有：樹林、林口、新莊為正相關，議價空間比率顯著較高，大安區為負相關，議價空間比率相對較低。 （二）成交時間變數有：97年第四季因金融風暴，該季議價空間比率顯著較高。 （三）物件個別屬性變數有：是否1樓、屋齡、平均委託單價與議價空間比率為正相關，透天產品與議價空間比率為負相關，透天產品議價空間比率顯著較低。 （四）總體因素變數有：北市北縣拍賣移轉件數與議價空間比率為正相關，北縣市買賣移轉件數與議價空間比率為負相關。 本研究建議買賣交易人或投資者應針對交易標的所在區位、交易時間點、標的物個別條件以及總體指標需深入了解，賣方在訂價或買方在出價斡旋時，將更能提高交易成功之機率。物件位於相對偏遠地區，由於條件相對較差，賣方在開價上需預留較大議價空間，並有讓價準備，而買方可多收集相關成交資訊，以減少因資訊不充足而支付較高之價格貼水。 另外，當市場上發生重大事件導致房屋市場變動時，此時仲介角色更具挑戰性， 應提供賣方相關分析資訊，協助使其提早瞭解市場變動情況，避免損失加劇。對於一樓產品，買賣雙方價格認知差異較大，應提供相近條件之成交行情，若是店面或商用產品，可再提供租金收益資訊，易使雙方對於價格較有共識，並促進交易價格之合理性。 而不動產估價師執行台北縣、市之估價案件時，若採用市場比較法，收集之比較案例為待售尚未成交之物件，可參考各區位議價空間比率之平均數，再評估上述顯著變數之正負相關性，酌予上下調整，以增進待售價格情況調整之精確度。 / Although there are abundant sources of references regarding the use of Hedonic pricing models to study the relationship between real estate pricing variables and real estate price volatility, relatively few were dedicated to the research of price concession variables. Price concession variables determine sellers' asking prices and buyers' bid prices, or the expected deal price of a bid/ask strategy and even provide useful indications to real estate evaluators taking the market comparison approach when there are no actual deals to compare. Therefore, in this research we aimed to collect samples of actual real estate deals made to determine the variables that affect degrees of price concession by analyzing the degrees of price concession in proportion to bid/ask prices. In this research, we confined our area of study to completed constructions transacted through real estate agencies. Through interviews with real estate agents and reviews of past theoretical references, we attempted to gather all possible variables from the time buyers and sellers approach real estate agencies to the time a deal is made; we also gathered data of bid prices, asking prices and deal prices of completed constructions situated in the various administration districts within Taipei City and Taipei County. Interview results, pricing data and the possible variables we had identified were analyzed using Excel and SPSS; our statistical analysis included descriptive statistics, correlation analysis, line charts and multiple regression of the Hedonic pricing model. The purpose of our analyses was to determine factors that influence the degree of price concession as well as the extent of such influence. Our research results found the following variables that significantly influence the degree of price concession: (1) Location variable: Shulin, Linko and Hsinchuang districts are positively correlated, suggesting a higher degree of price concession; Daan district is negatively correlated, suggesting a lower degree of price concession. (2) Timing variable: The degree of price concession during the fourth quarter of 2008 was significantly higher because of the global financial crisis. (3) Object-specific variables: Whether the property is situated on the first floor and aging variables are positively correlated to the degree of price concession; whether the property is an independent house is negatively correlated to the degree of price concession, suggesting a lower degree of price concession for independent house properties. (4) Macro factors: The number of court auctions in Taipei City and County is positively correlated to the degree of price concession; the number of property sales in Taipei City and County are negatively correlated to the degree of price concession. Through this research, we advise that property buyers, sellers and investors should gain further insights into the location, timing, characteristics and the overall environment relating to the properties they wish to close deals for. These insights will help buyers and sellers set bid/ask prices that are more likely to close deals, thereby reducing the cost of prolonged negotiations. Properties located in remote areas are have a disadvantage; sellers should reserve more room for negotiation and be prepared to make price concessions, while buyers should gather more information related to the deal of similar properties to avoid paying higher premiums due to lack of information. Furthermore, the role of real estate agencies becomes more challenging in the occurrence of major events which cause volatility within the real estate market. Real estate agents should provide sellers the relevant data analysis to facilitate early anticipation of market changes, thereby preventing further losses. For properties located on the first floor, since there are relatively wider discrepancies between sellers' and buyers' expectations, real estate agents should provide more information related to the deals of similar properties to reconcile their differences. If the properties are for retail or commercial purposes, real estate agents may also provide information on rental or revenue to reconcile the understanding between buyers and sellers and give more rationality to deal prices. For real estate evaluators attempting to evaluate properties situated in Taipei City and County using the market comparison approach but lacking deal references, they may consider taking the average degree of price concession across all administrative districts and adjust upwards or downwards based on correlations to the above significant variables and produce a more accurate indicator for the properties pending sale.

過往的國際租稅制度設計著重於避免雙重課稅以消除經貿交流所產生之障礙，然而當今因資訊科技快速發展使得新興商業模式興起，跨國交易手法複雜且創新，此套國際租稅制度已逐漸無法滿足當今新型態稽徵之需求，常造成各國稅捐之流失。因此，國際租稅制度的理念已由過往的避免雙重課稅轉換為現今的避免雙重不課稅，而跨國反避稅風潮也由此而生。我國於跨國反避稅浪潮中亦制定多項反避稅措施，然而其成效如何並未有相關研究文獻作全面性之檢視，因此本文以2002年至2014年台灣上市、上櫃與興櫃公司財務資料探討我國實施多年之反避稅措施對於企業租稅負擔與避稅行為之影響。 本文研究結果顯示，移轉訂價查核準則實施與簽署租稅協定將提升企業租稅負擔與降低避稅行為。由於我國企業資本弱化情形並不嚴重，因此反資本弱化條款實施對於我國企業並無顯著影響。在簽署租稅協定內含利益限制條款方面，利益限制條款並未顯著提升我國企業租稅負擔與避稅行為，究其原因，可能為我國簽署租稅協定且含利益限制條款之樣本數過少使其效果並不明顯。 / The emergence of international tax system was to reduce the burden of juridical double taxation and increase cross-border transactions. However, the new business model changed by rapid development of science and technology made taxing authorities difficult to define the substance of cross-border transactions. In this case many countries faced the fact of tax erosion, so the objective of international tax system has been changed from the elimination of double taxation to anti-avoidance measures. In order to prevent tax erosion, Taiwan’s government had legislated some anti-avoidance provisions. There is no study that research those anti-avoidance provisions whether have impact on Taiwanese enterprise. This study used Taiwanese financial information from 2002 to 2014 to investigate the tax burden and tax avoidance of enterprise after anti-avoidance provisions had been legislated. Empirical results show transfer pricing rules and tax treaties not only increase the tax burden but also decrease the tax avoidance of Taiwanese enterprise. This study find that there is no thin capitalization in Taiwan. At the end, tax treaties which involved limitation-on-benefits can’t increase the tax burden and decrease the tax avoidance of Taiwanese enterprise. Owing to few samples of tax treaties which involved limitation-on-benefits, the empirical result don’t reach the significant level.

隨著知識經濟之發展，無形資產對於企業價值之重要性因而提升。就跨國企業而言，其無形資產配置對利潤分配之影響遠遠超過有形資產之交易，故近年來無形資產已成為各國稅務機關查核跨國企業間移轉訂價之重點項目。 本研究以經濟合作暨發展組織 2013 年7 月30 日發布之「無形資產移轉訂價修訂討論稿」為根基，結合美國、中國及印度等國家之相關規範，分析我國目前對於無形資產移轉訂價規範之缺失，並以近三年來與無形資產移轉訂價相關之國內外訴訟案例為研究範疇，探討實務上徵納雙方常見爭議，進而提出個人建議，冀能做為我國無形資產移轉訂價規範修法方向及徵納實務之參考。 / The importance of intangibles for market capitalization of an enterprise has been rising with the development of knowledge economy. Distributions of intangibles have more impact on profit allocations than transactions of tangible assets for multinational enterprises. As a result, the transfer pricing of intangibles have become the focus of taxation for multinational enterprises. This study analyzes defects of the regulations of transfer pricing involving intangibles in Taiwan based on Revised Discussion Draft on Transfer Pricing Aspects of Intangibles which issued by Organization for Economic Co-operation and Development (OECD) on July 30, 2013 and based on the references of the related regulations in other countries, including United States, China and India. Furthermore, the study analyzes and classifies the controversies of transfer pricing of intangibles between taxpayers and tax authorities in practice for the past three years from the court cases.