법인세율 차이가 기업의 해외영업과 조세회피에 미치는 영향

This study analyzes the effects of cross-country differences in corporate tax rates on tax avoidance of Korean companies if they have subsidiaries overseas. We also analyze whether the number of overseas subsidiaries, the number of countries invested, the proportion of overseas assets and the proportion of overseas sales are related to tax avoidance. To this end, we used the data published by the company listed in the KOSPI and KOSDAQ as a footnote from 2011 to 2016 to measure the difference in tax rates, the number of overseas subsidiaries, and the number of countries invested. As a result of the empirical analysis, it can be seen that the tax avoidance is larger when the tax rate of the investing country is lower than the tax rate of Korea. In addition, the larger the number of foreign subsidiaries, the larger the proportion of overseas sales, the larger the tax avoidance. On the other hand, the smaller the number of countries invested, the larger the tax avoidance. The implication of this study is that the difference in corporate tax rates between Korea and foreign countries has an effect on the tax avoidance of domestic firms, which have been rarely studied in the past. In addition, it is different from previous studies that the number of foreign subsidiaries and the number of countries to be invested are analyzed in the footnotes of individual companies’ financial statements. The findings of this study are expected to provide important implications for policymakers and related stakeholders.