情报交换协定是否能遏制企业的税基侵蚀和利润转移行为

Can Tax Information Exchange Agreements Restrain the BEPS Behavior of Company?

本文通过构建1990-2015年中国上市公司的数据库,就签订税收情报交换协定与中国对外直接投资企业报告的营业利润率之间的关系进行研究,以考察税收情报交换协定能否有效遏制跨国公司的税基侵蚀和利润转移行为。从总体上看,税收情报交换协定确实有助于打击企业的税基侵蚀和利润转移行为,但与不同避税地签订的协定效果差异较大:与避税地签订的税收情报交换协定使企业报告的营业利润率与其进行对外直接投资之前相比没有显著差异;与港澳签订的避免双重征税协定使企业报告的营业利润率平均上升7.19%左右;与除港澳外的其他避税地签订的避免双重征税协定反而使企业报告的营业利润率平均下降4.25%左右。本文的研究结论对当前国际社会正在持续推进的打击跨国公司国际避税行动具有重要启示。

This paper builds a database of Chinese listed companies from 1990 to 2015, studies the relationship between signing tax information exchange agreements and multinational companies reported prof- its ,and then examines whether tax information exchange agreements can effectively restrain the BEPS behavior or not. The results show that the tax information exchange agreement does help to restrain the tax base erosion and profit transfer behavior as a whole, but the effect of different tax information exchange agreements be- tween different tax heavens is diverse. Specifically, the Tax information exchange agreements signed with tax heavens make no significant difference in the reported profit rate by the enterprise compared to before foreign investment. The double taxation agreements signed with Hong Kong and Macao make the reported profit mar- gin increased about 7. 19% on average. While the double taxation agreements signed with the tax heavens ex- cept for Hong Kong and Macao make the reported profit margin decrease by about 4. 25%. The finding en- lightened to anti-BEPS action that is continued promoting by the international community.