摘要 特许权使用费作为一种无形资产使用权转移的价值支付，在高科技企业中广 泛存在，其定价具有先天的难度，并且涉及关务和税务风险两部分。在关务方面， 其可物化存在于进口商品的属性，由于未被多数企业充分认识，从而埋下关务隐 患；在税务方面，由于无形资产使用权作为商品，其本身的价值难以被量化，所 以学界对其定价方法一直存在较大的争议。当苹果公司的“双爱尔兰-荷兰三明 治模式”被披露后，特许权费用作为转移定价的重要手段再次成为了各国税务关 注的焦点。世界经合组织（OECD）于2012年受G20委托，开始研究税基侵蚀和 利润转移(BEPS, Base Erosion and Profit Shifting）这一国际化问题。各国 政府也随之加大了对于特许权转移定价的审查力度。 随着中国改革开放步伐的加快，不仅大批国际企业进入中国市场，同时也有 不少国内行业龙头企业走向国际市场。中国和整个世界一起在享受着这高分享度、 高传递性的新的世界空间。而在迎接这股持久的国际浪潮中，中国企业自身不断 国际化的进程中，企业如何把握尺度、规划发展，控制风险，拿捏企业评估绩效， 这都要求国内企业不断地进行探索和研究。这既包含了对已有理论的学习与借鉴， 也需要企业在国际化实践中汲取营养、积累经验。一种是摸着自己的石头过河， 一种是摸着别人的石头过河，其为双管齐下的良策。 本文首先梳理了国内外关于转移定价的相关文献，研究了转移定价问题发展 至今，国内外所获得的相关成果。其次，归纳描述了集权-分权理论及代理问题 的理论基础。从第三章开始，本文介绍了K公司以及K公司所属KK集团的基本 状况以及所处行业的现状，然后描述了K公司在特许权方面的运作实务。同时， 重点分析了当前状态下，K公司面临的关于特许权转移定价的问题，以及由此派 生出的经营管理问题。其中有些问题是直接由特许权问题引发的，诸如由于定价 困难而带来的可能面临的税务风险与关务风险；也有间接问题，诸如在特许权定 价方法确定的情况下，如何消除由此产生的负面效应及对职业经理人激励机制的 困惑；还诸如在特许权冲击下的，新旧两种岗位的定义与规划。 本文提出了解决K公司困境的改进措施，分别从特许权定价手法、公司激励 机制、组织架构与人员培训等方面入手，通过两个去风险、一个核心驱动、两个 基础培植，尝试建立一种可持续的改进模式。同时，启发高科技工业企业在特许 权转移价格问题上的共同认识。 关键词： 高科技 特许权 转移定价 STUDY FOR ROYALTY FEE TRANSFER PRICING --based on K company’s practice ABSTRACT Royalty fee, as a way of transferring value of intangible asset, is widely adopted by high-tech companies. The pricing of royalty fee is difficult as it is pertaining to both custom risk and tax risk. From custom perspective, the risk lies that there is limited understanding for the fact that royalty fee can be carried in the form of goods imported. From tax perspective, the risk sits with the difficulty and intense debate of reasonably quantifying the value of the right to use intangible assets in the academic circle. When the Double Ireland and Dutch Sandwich model of Apple Inc is unveiled, the pricing of royalty fee raises again as a focus. OECD has commenced some research around the internationalized theme of “Base Erosion and Profit Shifting” since 2012 as a mandate from the G20. Governments have also ramped up the censorship on the pricing of royalty transfer. With the accelerated steps of China’s reform and opening-up, many global companies entered China market and domestic top ones went global, too. Both China and the rest of the world are sharing such new space of high level collaboration and fast communication. In this steady and sustained wave of internationalization, there is a need for us to continually study and research how to manage the plan, control the risk and monitor the performance. We should maintain our growth momentum by both theory and practice, which is supposed to be the best strategy. This paper, firstly sorts out the research articles on transfer pricing, and studies the related conclusions made inside and outside China. Secondly, it analyzes and summarizes theoretical foundation of the centralization vs. decentralization problem ABSTRACT and the mandate agent issue. Starting from chapter 3, it introduces company K and its holding group KK’s business facts as well as industry dynamics. By describing the practice of company K in royalty operation, it outlines the challenges of transfer pricing and the derived managerial problems that this company is facing at the current stage. Some of the problems are direct consequences of royalty, for example: the tax and custom risks incurred by the pricing difficulty. Indirect problems could be, how to mitigate the negative impacts caused by special pricing method, such as the concern about managers incentive scheme, transition and definition of new vs old roles with the change brought by the royalty. In chapter 4, it provides the solution to the dilemma of company K. The solution is based on 4 perspectives including royalty pricing method, company incentive plan, organizational structure and training plan, to make recommendation for improvement. With the combined strategy of “2 off-risks”, “1 core drive” and “2 fostered- fundamentals”, the author hopes to inspire the high tech companies about the aligned understanding for royalty transfer pricing and suggest actionable adjustment approach for as a reference. The stats quoted in the paper have been purged for the sake of confidentiality of the original data source. China’s national technological vision sets a significant roadmap. Companies that have marched ahead deserve high appreciation. Wish to contribute some value to the more high-tech Chinese companies in this great adventure. KEYWORDS：high-tech, royalty fee, transfer pricing ABSTRACT 目 录 目 录 第一章 绪论 ........................................................1 第一节 研究背景和意义 .......................................... 1 第二节 研究内容和创新之处 ...................................... 3 一、研究内容 ................................................ 3 二、创新之处 ................................................ 4 第三节 研究方法和技术路线 ...................................... 4 一、研究方法 ................................................ 4 二、技术路线 ................................................ 5 第二章 相关理论与文献回顾 ..........................................7 第一节 国内外转移定价理论发展文献回顾 .......................... 7 一、国外研究文献回顾 ........................................ 7 二、国内研究文献回顾 ....................................... 10 三、文献评述 ............................................... 13 第二节 理论基础 ............................................... 13 一、特许权及特许权费用的定义及特点 ......................... 13 二、集权与分权的定义与模式 ................................. 15 三、代理问题 ............................................... 17 第三章 K公司所处行业、产业及自身特许权转移定价的现状及问题 .......19 第一节 行业、产业的现状与实践 ................................. 19 一、K公司所处行业及发展概况 ............................... 19 二、行业特点的提炼和扩展 ................................... 21 三、高新技术产业的特点 ..................................... 22 四、高新科技产业内特许权转移定价的实践 ..................... 23 第二节 K公司的现状与实践 ..................................... 24 一、K公司集团背景 ......................................... 24 二、K公司现状 ............................................. 25 三、K公司特许权转移定价的实践 ............................. 26 目 录 第三节 K公司面临的风险和困惑 ................................. 30 一、特许权定价的税务风险 ................................... 31 二、 K公司业绩目标的困扰 .................................. 32 第四节 对于K公司目前特许权转移定价的评价 ..................... 33 一、公司战略 ............................................... 33 二、税务筹划 ............................................... 34 三、风险控制 ............................................... 34 四、经理人激励 ............................................. 34 五、集权模式 ............................................... 35 第四章 改进措施及评价 .............................................36 第一节 影响特许权费用制定的因素分析 ........................... 36 一、宏观层面影响因素 ....................................... 36 二、微观层面影响因素 ......................................