转让定价的行业垂直整合【外文翻译】

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1、本科毕业论文（设计）外文翻译原文：TransferpricinginverticallyintegratedindustriesAbstractTaxofficialsjudgewhetheramultinational’stransferpriceisconsistentwiththearm’s-lengthstandard,thepriceatwhichtwoindependentfirmswouldcarryoutasimilartransaction,byusingdatafromcomparablebutindependenttransactions.Invertica

2、llyintegratedindustries,theonlysourceofcomparabledatamaybefromcontrolled(non-independent)transactions.Conventionalwisdomassertsthatstandardarm’s-lengthmethodscannotperformwellinsuchmarketsbecausethecomparabilityrulesencouragetheintegratedfirmstocolludetacitlyontransferpricesinawaythatamplifie

3、stax-differentialincentives.Inthispaper,weshowthatstrategiclinkagesbetweenverticallyintegratedfirmsoperatinginthesamefinalgoodmarketmoderate,andcanpossiblyreverse,tax-differentialincentivesifthecorrectcomparisonmethodisused.TheCost-Plusmethodturnsouttobethemosteffectiveinlimitingtheequilibriu

4、mamountofprofit-shiftingoutofthehigh-taxcountryandityieldsthehighesttaxrevenuesforthehigh-taxcountry.Thesebenefitsareshowntostrengthenwhenthefirmshaveprivatecostinformation.KeywordsTransferpricing·Verticalintegration·IncentivecomparabilityIntroductionAtransferpriceisusedtovaluetheexchangeofan

5、assetorservicebetweentwosubsidiariesofthesamemultinational.Whenthesubsidiariesareincorporatedincountrieswithdifferenttaxrates,themultinationalhasanincentivetosetthetransferpricetoshiftprofitsintothelow-taxcountry.Tomitigatethisincentive,OECDcountriesauditmultinationaltransferpricestodetermine

6、whethereachtransferpricemeetsthearm’s-lengthstandard:thetransferpriceequalsthepricetwoarm’s-lengthorindependentfirms,firmsnotcontrolledbythesamemultinational,wouldtrade.Whenanauditdeterminesthatatransferpricedoesnotmeetthearm’s-lengthstandard,thetaxauthorityimputesanappropriatetransferprice,c

7、alculatesanewtaxliability,andassessespenalties.Todetectdeviationsfromarm’s-lengthpricinginpractice,taxauthoritiestestwhetheratransferpricemeetsthearm’s-lengthstandardbycomparingdatafromtheauditedfirmtodatafromcomparabletransactionsbetweeninde