민간매입임대주택 세제혜택정책의 문제점 및 개선방안

장정섭 ( Jang Jungsub ),고석찬 ( Ko Suk-chan ) 단국대학교 융합사회연구소 2018 공공정책과 국정관리 Vol.12 No.3

The purpose of this study is to identify the effects of tax breaks implemented by the government to allow more non-residential multiple homeowners to enter the rental home business. Based on the survey data and the questions and answers materials from the Minitry of Land and Transportation, the research found that tax breaks have contributed to the increase in the number of registered rental housing units. The study also found several problems related to the implementation tax breaks policy as follows: First, a mismatch in registration requirements and benefit requirements for private rental housing projects could result in disadvantages for homeowners. Second, problems arise due to different interpretations of private rental housing tax benefits. Differences in interpretations of obligations arising from the registration of housing rental projects and obligations arising to benefit from tax breaks occur for each agency. Third, there is no professional counseling agency on tax benefits for housing rental projects. A professional counselor should be assigned to the National Tax Service(NTS) call center staff. If these problems can be improved, the number of registered multiple homeowners will be expected to increase sharply.

해외 CCS 정책적 지원제도 분석

곽원준(Wonjun Kwak),김준식(Junsik Kim) 한국에너지기후변화학회 2022 한국에너지기후변화학회 학술대회 Vol.2022 No.5

유럽 벤처투자시장 육성 방안 및 정책적 시사점

배승욱 ( Bae Seung Uk ) 한국중견기업학회 2023 중견기업연구 Vol.10 No.3

In early 2010, the EU Commission published a report titled “Europe 2020,” suggesting a plan for sustainable economic growth in Europe after the 2008 financial crisis. This report is one of the various ways in which venture investment (VC) funds, which perform the important function of supplying funds to small and medium-sized businesses and startups and performing management support activities, ultimately increasing the economic growth rate, will continue to drive EU economic growth. Therefore, it was suggested that there is a need to streamline the VC market. In fact, at the time of 2010, the EU did not have a unified VC fund regulatory system, so VC funds could not grow due to different regulations for each member state. In particular, cross-border fundraising, which allows investments between member states through VC funds, was blocked by strict regulations, making efficient investment by EU VC funds difficult. Accordingly, the EU established a unified VC fund regulatory system in 2013 and is also supporting large-scale VC investment at the government level. In addition, efforts have been made to revitalize the VC ecosystem by providing bold tax benefits for VC investments and creating a recovery market for venture companies, and these efforts have recently borne some fruit. Therefore, in this article, we aim to derive policy implications that can revitalize Korea’s VC ecosystem by taking a closer look at measures to revitalize the EU VC ecosystem, such as the unified EU VC regulatory system recently introduced to grow the VC market. This article is structured as follows. Chapter 2 examines the history and current status of EU VCs, Chapter 3 provides an overview of EU venture investment regulations, and Chapter 4 examines plans to foster the EU venture investment market. And finally, in Chapter 5, we conclude by deriving policy implications for fostering venture investment in Korea. At the time of announcing the VC revitalization policy in 2010, EU policy officials believed that the reason why the EU’s VC market was less active than in the United States was due to differences in regulations and taxes between member countries. In other words, regulatory arbitrage by member state was preventing economies of scale from being achieved in the EU VC market. Accordingly, the EU enacted the EuVECA regulation, which unifies regulations on VC, allowing funds to be freely supplied to the VC market within the EU, and also unified fees and other administrative costs at the EU level. In addition, considering that the VC market is still in its infancy compared to the United States, the EU is making efforts to promote government-led VC investment, and member countries have granted bold tax benefits to startups and VCs. By referring to the fact that the EU is implementing various measures to revitalize the VC market by improving the VC industry-related system, the following measures to revitalize the domestic VC market can be derived. First, just as the EU promotes economies of scale by activating offshore VC investment among member states, Korea also promotes economies of scale through offshore VC investment (domestic VCs’ investment in overseas venture companies (Outbound) and foreign VCs’ investment in domestic venture companies (Inbound)). There is a need to further revitalize the VC market. Among offshore VC investments, one way to revitalize domestic VCs’ investment in overseas venture companies (Outbound) is to significantly increase the budget of the overseas VC global fund of mother-of-funds funds. This year, in 2023, the Global Fund of Funds invested approximately 77 billion won. However, this is a very insufficient amount, and in the future, it will be necessary to maintain at least KRW 100 billion, which is the size of the fund’s overseas VC global fund investment in 2022, at the level of the fund’s investment in fund of funds, or to expand it more aggressively. If it is realistically difficult to increase the fund’s budget, one option could be to expand the size of overseas VC global fund investment by utilizing the funds’ recovered resources. Measures to stimulate investment (inbound) in domestic venture companies by overseas VCs include ① continuously holding large-scale demo days and investment attraction fairs at the government level at home and abroad, ② expansion of overseas offices of policy finance institutions and large-scale human and material investment in existing offices. There may be ways to strengthen overseas networks through support. In particular, large-scale domestic and international demo days and investment attraction fairs are not just one-off events, but additional in-depth consideration will be needed to become a venue where excellent domestic venture companies and overseas top tier VCs can participate and make direct investments. Second, just as the EU granted bold tax benefits to the VC market, Korea also needs to provide more tax benefits to the VC market. For example, we are currently trying to introduce a corporate growth collective investment vehicle under the Capital Markets Act, and it is essential to provide tax benefits according to the principle of equal investment risk and equal tax benefit. Park Yong-rin, “Plan to promote the supply of risk capital,” Korea Financial Investment Association and Capital Markets Materials from the seminar ‘Support for innovative growth of our economy and increase in national assets in the capital market’ hosted by the research institute, October 13, 2022. Since the corporate growth collective investment vehicle sets the same investment target (unlisted venture companies) as the existing venture investment vehicle, tax support corresponding to the existing venture investment vehicle will be substantially helpful not only in establishing the system but also in revitalizing venture investment.