國際投資涉稅措施構成間接徵收之實證分析

An Empirical Analysis on Tax-related Measures of International Investment Constituting Indirect Expropriation

隨著國際投資仲裁的發展，投資者和東道國更多地利用仲裁機制以穩定、有效地解決國際投資爭議是大勢所趨。在諸多國際投資爭議中，東道國的稅收措施是否構成間接徵收問題是常見的爭議焦點之一。這一問題的本質實際上是東道國行使國家管理權力和海外投資者利益保護兩者之間的權益平衡問題，對於矛盾雙方都具有重要意義。本文通過對國際投資涉稅爭議之ICSID相關案例的分析，以期更好地認識仲裁庭判斷東道國稅收措施是否構成間接徵收的各項具體考量因素，從而為國際投資涉稅爭議各方提供可資借鑒的有益經驗。 With the development of international investment arbitration, it is a trend for investors and host countries to increasingly take advantage of arbitration mechanism to resolve international investment disputes solidly and effectively. In many international investment disputes, whether the host country's tax measures constitute indirect expropriation is one of the common focus of controversy. The essence of this matter is actually the balance of interests between the exercise of state management power by the host country and the protection for the interests of overseas investors, which is of great significance to both sides of the conflict. This paper analyzes the relevant ICSID cases concerning tax-related disputes of international investment in order to better understand each of the factors considered by the arbitration tribunal in judging whether the host country's tax measures constitute indirect expropriation and to provide certain useful experience to the parties of tax-related disputes of international investment.