税收政策与企业对外直接投资:模型说明

Tax Policy and Foreign Direct Investment:Model Specification

本文通过模型分析,研究在东道国和居住国的税收制度体系中,税收对中国跨国公司的影响,以及这些公司对外投资活动的数量和特征。得出的结论:第一,在相同投资环境下,如果居住国税负比较高、投资回报率比较低,企业将选择对外投资替代在其国内的投资。第二,在其他条件相同的情况下,如果居住国与东道国签订了有关税收优惠的协议等,将促进本国企业在该国的投资规模增加。第三,东道国的销售税/间接税对跨国公司的影响大于所得税/直接税的影响。因此,东道国可以通过对间接税率和直接税率的调整吸引更多的跨国投资又防止税收规模的减小。第四,所得税以及营业税等其他税种能够通过改变对外投资企业的投资和转移定价激励因素,对其收入生产模式产生显著的影响。

Through the analysis of the model,this paper researches the host country and home country tax system,the tax effect on the China Multi-National Corporation,the number and characteristics of these foreign companies investing activities.This paper comes to these conclusions;First,in the same investment environment,if the home country tax rate is relatively high,the negative rate of return on investment is relatively low,the firm will choose foreign investment in alternative investment in their country.Second,in the same conditions,if home country and host country signed the relevant preferential tax agreement,it will promote die domestic enterprises to increase the scale of investment Third,the influence of host country’s sales tax/indirect tax impact on the Multi-National Corporation is greater than the income tax/direct taxation.Therefore,the host country can reduce and prevent the size of the tax by indirect tax and direct tax rate adjustment to attract multinational investment more.Fourth,income tax and business tax and other taxes can change the domestic enterprises foreign investment and transfer pricing incentive factors,and have a significant impact on the income of production mode.