BEPS 방지 프로젝트 도입 후 다국적기업의 소득이전 효과: 한국 다국적기업 대상

This paper uses a difference-in-difference approach to determine whether Post-BEPS plays a role in reducing income shifting activities within Korean multinational corporations. The paper employs the Orbis database from 2007 to 2015 to draw the sample for the foreign subsidiaries owned by Korean multinational corporations to implement the analysis. For the analysis, the treatment group consists of the income shifting effect at low-tax subsidiaries under before BEPS while the control group is consist of the income shifting effect at low-tax subsidiaries under post-BEPS. The result of data analysis suggests that post-BEPS have responded to the Korean multinational corporations by reducing income shifting activities since the coefficient of the variable(time＊treatment), the difference-indifferences estimate of the treatment effect, is negative and statistically significant. This study makes at least three contributions. First, this paper is the first study to analyze on income shifting activities of Korean multinational corporation by using BEPS indicator under post-BEPS. Second, this study provides the understanding for the income shifting activities of Korean multinational corporations. Finally, this paper suggests the work of tax administrative have performed effectively in respond to BEPS project to the extent of which income shifting activities has been reduced.