所得稅資訊內涵對盈餘持續性之影響

The Effect of Income Tax Information Content on Earnings Persistence

本文探討所得稅資訊內涵以及國際財務報導準則（IFRS）實施後，對盈餘持續性之影響。實證結果顯示，遞延所得稅資產（DTA）與盈餘持續性呈顯著負相關，可能因遞延所得稅資產具有裁量權，管理當局進行盈餘管理，使得盈餘持續性降低；股東可扣抵稅額（ICA）與盈餘持續性呈顯著正相關，當企業之股東可扣抵稅額愈高，消除股東股利所得重複課說問題，吸引更多投資者投資，降低外部舉債的程度，進而提升盈餘持續性；未分配盈餘加徵10%稅額（UDIS）與盈餘持續性呈顯著負相關，亦即企業之加徵未分配盈餘稅負後，租稅負擔增加，進而降低盈餘持續性。再者，我國於2013年實施IFRS後，由於企業財務報表揭露較多財務狀況及經營績效資訊，提升財務報表品質，使得盈餘持續性提高。最後，IFRS實施後，股東可扣抵稅額愈高的公司，其盈餘持續性愈高。

This paper investigates the influence of income tax information content on earnings persistence and the consequences of Taiwan's adoption of the IFRS in 2013. Multiple regression analysis was used to explore the effects of deferred income tax assets (DTA), imputation tax credits (ICA) and 10% surtax on undistributed retained earnings (UDIS) on earrings persistence in a sample of companies listed in Taiwan for the period from 2006 to 2014. The effects of income tax information content on earning persistence provide empirical evidence to support the supposition that DTA reduces earnings persistence by allowing managers to apply judgment in the manipulation of earnings. Our findings show that ICA has reduced the occurrence of double taxation, with the added effect of attracting investment and decreasing the need for external loans, thereby increasing earnings persistence. Despite the fact that UDIS is likely to increase the tax burden, it may also act to reduce earnings persistence. Earnings persistence has increased since the implementation of IFRS in 2013, particularly among companies with more ICA.