우리나라 資本利得課稅制度에 관한 硏究

李在璣 慶熙大學校 經營大學院 1998 국내석사

우리나라의 讓渡所得稅制의 問題點과 改善方案에 관한 硏究

이태호 동국대학교 경영대학원 1997 국내석사

It is difficult to. realize fairness am efficiency in the tax administration, unless the procedures for the the settlement of taxes are not appropriate. The emphasis on capital gains tax. which started out as a form of speculation restraint tax, has been placed on it's role as on diffective policy measure in in restraint speculation rather than on its original function as a tax source from disposal taxes has been as being a failure. But, the importance of capital gains tax that are actually realized has been felt more praminently than ever before, the current system is unable to estinate the exact extent of capital gains realized through real estate investment or speculation and absorb any excess portion as taxes, basically, it is caused by a melthodological problem in the scope of the excess. Moreover, there are very complicated rates and many exemption items under the current system which interfere with equity am objectivity consideration, and the dual structure of high. tax rates and low applied rates have resulted in a high non-compliance rate, bringing about a freezing effect on transactions and frequent tax deferrals. In addition, excessive tax, benefits for long-term ownership have impeded effective land utilization, while there have been insufficient countermeasure against illegal transactions such as unregistered ownership transfers made possible by an unreliable and unrealistic document processing system which allows for such improprieties as foregoing intermediate registering deed titles under false names. Therefore, the focus of the reform for the capital Gains Tax System of the dual policy objectives of eliminating real estate speculation factors by sufficiently absorbing capital real speculation gains, and working to restrain transaction freezes and promote of real estate. In order to improve such point at issues the devices are as follows : 1. The basis of determination of the disposal gain must be changed from standard market rates to actual transaction amount so that taxes may be imposed on the actual gain. 2. I think we must be changed from the current government Imposition system to the self assessment system. 3. Non-taxable and exemption be drastically reduced and a special income tax exemption system must be introduced and applied to those who have justifiable reasons for non-taxation or exemption. 4. Under the premise of switching the disposal gain criteria to actual transaction amount, there must be a sizable decrease in 'tax rates and a lowing of long-term ownership criteria from 2 years to 1 year. 5. The real estate registration system must be improved so that the actual transaction amount is recorded on the deed and collusion between the transaction parties is prevented In the case where the recorded transaction amount is less than legal standards such as the standard market rate, there must be legal recourses for the recording of amount in line with such separate standards. 6. Since the non-compliance rate of capital pins tax is higher than other tax sources, the international arbitration board must be placed under the direct supervision of the President or the Prime Minister, and relief provided in the farm of expedient in case of requests for review as a part of improvements to the overall review and relief system to ensure taxpayers' rights.

우리나라 資本利得稅制의 改善方案에 관한 硏究

조명수 慶星大學校 貿易大學院 1994 국내석사

There are transfer income tax, surtax, land excess tax, and development imposition in capital gains tax of Korea. Meanwhile the government has heavily imposed transfer income tax to prevent vicious speculation on land and overheating of real estate activity. However transfer income tax hasn't peformed its roles as capital gains tax properly. But being made hurrily, it has exposed some problems. This thesis intends to show how to solve those problems of capital gains tax of Korea. First, to make transfer income tax play its inhereunt role as a capital gains tax taxation, the following measures should be made; 1. Include listed stock as a source of taxation of transfer income tax. 2. Convert current tax exemption and tax incentive system to special deduction system. 3. Reform capital gains tax of gratuitous acquisition as carry-over basis method. 4. To mediate inflation profits, the time of legal fiction acquisition should be become January 1, 1980, and eliminate restrictive provision, raise rate of wholesale price 5% per year. 5. Convert the method of determining transfer income from standard price method to real price of exchange method. 6. To induce voluntary report payment of transfer income tax, raise the tax deduction rate or additional tax rate of expected report payment. Second, corporate surtax is a double taxation upon same assets. Therefore it should be abolished in a long term and imbalance in tax imposition between corporate and individual should be dissolved by imposing capital gains tax on both of them by the same law. Third, if excess tax did not play its role efficiently, it should be abolished in a long term. Finally, development imposition should play a role of redemption of development profit. And then transfer income tax should be imposed on the real capital gains.

A Comparison of venture capital policy between Korea and China : 중·한 벤처 캐피털의 정책에 대한 비교 분석

Mei, Xinyang Seoul National University 2004 국내박사

새로운 기업의 생성은 혁신과 경제 성장을 위한 핵심 요소이다. 벤처 캐피털은 새롭게 시작하는 회사들에게 제정적 지원뿐 아니라 경영과 관리 서비스 또한 제공함으로써 신생 회사들의 생존에 큰 도움을 주고 있다. 벤처 캐피털의 중요성은 많은 나라의 사례에 의해서 확인 할 수 있다. 벤처 캐피털은 자금의 조달, 투자, 투자 철수의 세 단계의 순환 과정을 거친다. 본 논문은 한국과 중국의 벤처 캐피털을 세 단계의 순환 과정 관점에 의해 비교하였다. 첫 째, 벤처 캐피털 자원 측면에 있어서 한국의 경우가 중국보다 벤처 캐피털 시장에 진출해 있는 기관 투자가가 많다. 둘 째, 투자 측면에 있어서 한국의 벤처 캐피털이 중국의 벤처 캐피털보다 주식투자 방법을 더 많이 이용하고 있다. 마지막으로 투자 철수의 측면에서 한국에서는 IPO 철회 전략이 중국에서 보다 많이 사용된다. 본 연구는 이러한 벤처 캐피털의 차이를 만들어 내는 두 나라의 벤처 캐피털에 대한 직접적인 정책을 조사하고, 정책이 벤처 캐피털의 발전에 어떻게 영향을 주는가에 대해 분석하였다. 주로 투자 규제와 양도 소득세 그리고 IPO 상의 규제에 중점을 두었다. 미국에서 벤처 캐피털은 가장 발달되었기 때문에 본 연구 논문에서는 미국의 벤처 캐피털에 대한 직접적인 정책에 대해서도 언급하였다. 비교와 분석을 통해 본 연구 논문은 다음과 같은 결론을 얻었다. 기관 투자가들에 대한 비규제 또는 양도세 인센티브 등 벤처 캐피털 활동에 도움을 주는 시장제도들은 중국 정부에 의해 제공되지 않고 있으며, IPO를 위한 시장 제도들은 시장에 공개하려고 하는 벤처 기업들에게 너무 많은 제약을 가하고 있다. The creation of new firms is key factor for innovation and economic growth. But realization of a entrepreneurial project is a complex and risky process. In most cases, the entrepreneurs have innovation ideas but they lack business experience and management skills which are necessary to make project economically successful. Moreover they usually do not have funds to finance new firm`s investment. Raising fund from outside investors, however, is difficult because they can not offer enough collateral. These difficulties of entrepreneur activities have given rise to a market for service of venture capital (VC). Venture capital provides not only financial support but also business and management service to these startup firms and increases their ability to survive. Many countries make great effort to develop venture capital to stimulate innovation and economic development. Venture capital includes three steps: fundraising, investing, exiting. This paper makes a comparison of venture capital between Korea and China from these three aspects. For venture capital source, more institutional investors enter venture capital market in Korea than in China. For investing, Korean venture capital uses more equity investment method than Chinese one. For exiting of investment, more IPO exiting strategy is used by Korean venture capital than by Chinese one. The author analyses VC-directed policy behind these differences in two countries and how it affects the development of venture capital. The analysis of VC-directed policy focuses on the difference of policy in two countries mainly including investment regulation, capital gain tax and regulation on IPOs. Venture capital of the United States is most developed in the world. So the author also refers to the case in the United States. Through comparison and analysis, the author gets the following conclusion: some market institutions are very help for venture capital, such as deregulation institutional investors and capital gain tax incentive, are not provided by Chinese government yet; some market institutions on IPOs which is key determinant for venture capital imposed too prohibitive restriction for venture firms to go to public in China. According to this finding, finally the author proposes policy implication to develop Chinese venture capital industry.

법인 과세와 주주 과세의 통합

김의석 서울대학교 대학원 2021 국내박사

전통적 세제는 법인이 소득을 실현하면 일단 법인세를 과세하고 주주가 법인의 소득을 기초로 자신의 소득을 실현하는 시점에 소득세를 과세한다. 법인세 과세는 비법인과의 과세상 차이를 초래하는 등 여러 측면에서 조세중립성을 저해한다. 이를 해결하기 위해 법인 과세와 주주 과세 통합 방안으로서 세액공제 방식에 의한 배당소득 이중과세 조정 등 다양한 노력이 있어 왔다. 본 논문의 목적은 주주가 법인의 소득을 배당절차뿐만 아니라 많은 경우 주식양도를 통해서도 자신의 소득으로 실현한다는 실제에 기초하여 배당소득 과세 시에만 이중과세 조정을 하는 것보다 조세중립성을 상대적으로 더 제고할 가능성이 있는 하나의 법인세 통합 방안을 탐구하는 것이다. 이를 위하여 먼저 법인 소득에 기한 법인 및 주주 단계에서 과세가 중복되는 경우를 세 가지 유형으로 구분하였다. 첫 번째 유형은 법인이 소득을 실현하고 그 소득이 주주에게 배당되는 경우이다. 이 유형은 배당소득 이중과세 조정으로 비법인과의 과세상 차이를 해소할 수 있다. 세 번째 유형은 법인에 형성된 미실현이익을 반영한 가액으로 주주(A)가 주식을 양도한 후 법인이 미실현이익을 실현하고 이어서 법인의 소득이 주식양수인인 주주(B)에게 배당되는 경우이다. 이 유형은 비법인과의 과세상 차이를 해소하는 것이 불가능하고 주주(B)의 배당소득 이중과세 조정을 하는 것이 과세상 차이를 완화하는 현실적인 방법이다. 본 논문의 가장 중요한 부분인 두 번째 유형은 법인이 소득을 실현하고 주주(A)가 그 소득을 반영한 가액으로 주식을 양도하고 그 소득이 주식을 양수한 주주(B)에게 배당되는 유형이다. 즉, 법인의 소득 실현과 주주(B)에 대한 배당 사이에 주주(A)의 주식양도가 이루어진 경우이다. 이 유형의 경우에도 주주(B)의 배당소득 이중과세 조정을 하여 비법인과의 과세상 차이를 해소할 가능성이 있지만 그러한 가능성은 주식양도차손에 대한 소득세 전액 환급 등 다소 제약적인 전제를 필요로 한다. 이와 논리적 구성에서 약간 차이가 있는 접근 방법으로서, 1993년 미국의 ALI 연구보고서는 법인이 유보소득을 실제로 배당하지 않더라도 유보소득이 주주(A)에게 배당된 것으로 간주할 수 있도록 하고(constructive dividend) 주주(A)에게 배당소득 이중과세 조정을 허용하는 이른바 DRIP(Dividend Reinvestment Plan)을 제안한 바 있는데, DRIP은 그 시행이 법인의 재량이어서 임의적이다. 위와 같이 주주(A 또는 B)의 배당소득 이중과세 조정에 기초한 기존의 접근 방법들과 달리, 본 논문은 주주(A)의 주식양도소득 과세 시 선제적으로 법인세와의 이중과세 조정을 하고 주주(B)의 배당소득은 비과세 하는 방안을 제안하였다. 이 점이 본 논문의 핵심이다. 본 논문은 위 세 가지 중복과세 유형에 관한 각 분석을 종합하여 하나의 법인세 통합 방안으로서 배당소득 이중과세 조정과 주식양도소득 이중과세 조정을 모두 포함하는 ‘중복과세 포괄적 조정 방안’을 제안하고 ‘중복과세 포괄적 조정 규칙’을 정립하였다. 덧붙여 포괄적 조정이 실효성을 갖기 위해 필요한 전제조건들도 확인하였다. 위 포괄적 조정 규칙을 반영하여 본 논문은 법인 소득에 기한 과세에 있어서 종국적으로 주주 과세를 지향하는 세 가지 예시적인 과세체계를 대략적으로 설계하였다. 그 과세체계들은 법인과 주주에 대한 이중과세를 조정하는 구체적인 방법에 차이가 있는데, 그 중 하나는 법인세를 주주에게 환원하는 세액공제 방식이고, 다른 하나는 법인세를 법인에게 환원하는 방식이고, 나머지 하나는 배당금 손금산입과 세액공제 등의 병행 방식이다. 그리고 주식양도소득 이중과세 조정 시 주주 또는 법인에게 환원하는 법인세 금액의 계산은 배당소득 이중과세 조정의 경우와 일관되게 주주의 지분율에 비례하여 법인세를 환원하는 방법을 적용하였다. 위 세 가지 과세체계를 각각 간단한 사례에 적용한 결과 총 과세금액과 주주 세후 소득의 측면에서 결과가 동일하였고 그러한 결과는 비법인의 출자자의 경우와 동일하였다. 법인 소득에 기한 중복과세에 대하여 포괄적 조정을 하면 배당소득 이중과세 조정만 하는 경우보다 법인과 비법인과의 과세상 차이를 완화하는 등 조세중립성을 다소 제고할 가능성이 있다. 그러나 과거 법인세 통합 노력이 그러했던 것처럼, 전체 조세체계에서 볼 때 중복과세 포괄적 조정에 기한 법인세 통합의 모색 역시 실현주의, 법인세율과 소득세율의 차이, 현행 자본소득세제, 세제의 단순성 및 세수에 대한 영향과 같은 기타 세법적 가치, 국제조세 쟁점 등 다양한 측면의 이론적, 현실적 제약으로 인해 한계에 부딪힐 가능성이 높다. 이러한 점을 종합적으로 고려하면 단지 조세중립성을 다소 제고할 가능성이 있다는 점만으로는 중복과세 포괄적 조정에 기한 법인세 통합이 세제를 개선할 것이라고 단정하기는 어렵다. 다만, 본 논문에서 논증하려고 노력하였던 포괄적 조정의 유익한 측면과 제시한 조정 방법이 향후 연구자들이 위와 같은 제약과 한계를 극복한 바람직한 법인세 통합 방안을 탐구하는 과정에서 조금이나마 참고가 되기를 희망한다. 주요어: 법인 및 주주 과세 통합, 조세중립성, 법인세, 배당소득 이중과세, 배당세액공제, 주식양도소득 이중과세 Integration of The Corporate and Individual Income Taxes KIM Ui-Suk Tax Law Major Department of Law The Graduate School Seoul National University Under the classical system of tax, a corporate entity is taxed for its earnings and its shareholders are also taxed when they realize the earnings of the entity as their own income. The corporate tax causes economic distortions such as a different treatment between corporate entity and noncorporate entity, which impair tax neutrality. Various efforts have been made in order to integrate the corporate and shareholders’ income taxes. The Imputation method as a dividend relief is one for such purpose. In reality, the shareholders realize the corporate earnings as their own income by transfer of shares as well as distribution of dividend. The aim of this thesis is to make a proposal for integration, on the basis of such reality, which is likely to enhance tax neutrality more than dividend relief. This thesis classifies multiple taxations for a corporation and its shareholders into three types. The first type is a double taxation. That occurs when a corporation realizes its income and distributes dividend to its shareholders. In that type, a dividend relief could solve the problem of double taxation. The third type is a triple taxation. That occurs when a shareholder(A) transfers his shares to a third party(B) at the price reflecting unrealized gain of corporation, and the corporation realizes that gain, and then distributes dividend to the new shareholder(B). In that type, it is impossible to solve the problem of triple taxation completely. A dividend relief for the new shareholder(B) is a plausible way for relieving the different tax treatment between corporate entity and noncorporate entity in a certain degree. The second type, the most important part of this thesis, is also a triple taxation. That occurs when a corporation realizes income, and a shareholder(A) transfers his shares at the price reflecting the income to a third party(B), and then the corporation distributes dividend to the new shareholder(B). In that type, dividend relief for the new shareholder(B) could be a way of solving the problem of triple taxation completely only with such constrained conditions as the new shareholder(B)’s immediate transfer of all shares to another third party and the full refund of tax to the new shareholder(B) for the loss incurred by his transfer of shares. Another way for addressing the problem of triple taxation of the second type is the ‘Constructive Dividend and Reinvestment Plan’ proposed in the report of the American Law Institute in 1993. Under the Plan, a corporation could exercise its option to make constructive dividend to the shareholder(A) without distributing earnings. In that course, the imputation method is applied for the shareholder(A), and the basis of his shares are adjusted in reflection of the amount of the constructive dividend. Unlike the two ways above based on dividend relief, this thesis makes a proposal in which relief from double taxation should be provided for the shareholder(A)’s capital gains and dividend distributed to the new shareholder(B) should not be taxed. This is the key point of this thesis. On the basis of the above analysis for the three types, this thesis makes a set of rules for a comprehensive adjustment of multiple taxations. The rules provide relief from double taxation for both dividend income and capital gains. In addition, the thesis identifies the conditions under which the rules are effective as intended. In reflection of the rules for comprehensive adjustment above, this thesis designs three systems of integration of corporate and shareholders’ income taxes. Each system pursues a ultimate taxation for shareholders on the basis of corporate earnings. The systems differ from each other in the method of providing a relief from double taxation of dividend income and capital gains. One adopts the imputation method for the relief. Another refunds corporate tax to a corporation. The other applies both dividend-paid deduction and imputation(or refund of corporate tax to corporation). The three systems, applied to same facts, yield the same results with respect to the total tax amount and shareholders’ income after tax, both of which accord with those reached by a noncorporate entity. The integration based on a comprehensive adjustment of multiple taxations, providing relief from double taxation for both dividend income and capital gains, is likely to enhance tax neutrality more than an integration providing a dividend relief only. However, as the other integration systems, the integration proposed in this thesis, analyzed from the perspective of the whole tax system, will not be able to fulfill its intended aims because of various theoretical and practical factors such as realization principle, difference in corporate and individual income tax rates, current capital income tax laws, simplicity, revenue, international taxation issues, etc. Considering the above all, it is not proper to state that the integration based on a comprehensive adjustment of multiple taxations, providing relief from double taxation for both dividend income and capital gains, will make tax systems better. I just hope some merits of the integration and specific methods for such integration proposed in this thesis will be of some help in our seeking a more desirable integration system in the future. Keywords: Integration, Tax Neutrality, Corporate Tax, Double Taxation, Dividend Income, Capital Gain from Transfer of Shares

(A) Case Study of South Korea's reversal of Brain Drain : Lesson and Suggestions for Ghana : with focus on Korean Development Institute(KDI) and the Korean Institute for Science and Technology(KIST)

Sedzro, Ivy Eyram 서울대학교 대학원 2020 국내석사

이 연구는 한국개발연구원(KDI)과 한국과학기술연구원(KIST)의 설립을 통해 역 인력 유출에 대한 한국의 정책을 평가한다. 이에 사용된 정책과 전략은 가나 항공의 고도의 인적 기술 자본에 대한 교훈이 되었다. 1차 데이터와 2차 데이터를 모두 검토, 분석 및 논의하는 이론적이고 실증적인 분석틀이 가정되었다. 박정희 정부의 경제 개발 5개년의 2단계에서 국가 경제개발을 지속하고자 해외에 주재한 고도의 숙련된 한국인들을 유입하기 위해 본격적으로 이주 정책을 펼쳤다. 1960년에서 1980년까지 연구개발기관으로 설립된 KDI와 KIST는 숙련된 한국 전문가들의 국내 유입을 촉진하는 기관으로 작용했다. 따라서 이 연구는 그 시행 과정에서 한국 정부가 채택한 주요 전략과 정책을 살펴보고 그것이 과연 성공적이었는지를 조사하고자 했다. 한국이 한때 개발도상국이었다는 점을 고려하여, 개발도상국인 가나는 이 연구에서 교훈을 얻을 수 있을 것으로 보인다. 가나는 지속적으로 최고의 학자들을 잃었고, 또한 그 외 전문직 종사자들의 인력 유출을 통해 세계 경쟁에서 밀려났다. 지속되는 인력 유출로, 이 문제는 국가 발전에 부정적인 영향을 미치고 있다. 그러므로 이 연구의 핵심은 한국과학기술원과 한국개발연구원이 인력을 유지하고자 한 제도를 분석하는 데 있다. The study assesses policies adopted by South Korea in the reversal of brain drain through the establishment of the Korea Development Institute (KDI) and the Korea Institute of Science and Technology (KIST). The policies and strategies used further came as lessons and recommendations to Ghana ‘s flight of highly skilled human capital. A theoretical and empirical framework was assumed to review, analyze and discuss both primary and secondary data The government of ex-president Park Chung-Hee during the second phase of his five-year economic plan implemented migration policies in a bid to attract highly skilled and talented Korean nationals abroad to sustain the economic growth of the country. The establishment of KDI and KIST as research and development institutes further acted as facilitating agencies in the repatriation of skilled Korean professionals within 1960-1980. This study, therefore, sought to examine the key strategies and policies employed by the Korean government in the formulation and implementation process. Considering South Korea was once a developing country, Ghana can draw significant lessons from this study. Evidently, Ghana has lost its best academics, and other sought after professionals, through brain drain, into other countries making it impossible to compete globally; the impact of this problem has become very detrimental to national development. In achieving this objective, the central question of this study was to, therefore, analyze the Korea Research Institute of Science and Technology and Korea Development Institution as facilitating institutions in retaining the benefits of brain gain.

Essays in Behavioral Finance and Corporate Finance

Cannon, Bradley The Ohio State University ProQuest Dissertations & 2020 해외박사(DDOD)

This dissertation consists of three chapters that study how psychology impacts stock prices and how stock prices then impact corporate decisions.In the first chapter, I study whether a firm?s investment responds to the stock valuations of other firms headquartered nearby. I document a positive relation between a firm?s investment and the valuation of neighboring firms. This relation is stronger among financially constrained firms and is robust to controlling for the actual investment of other firms in the region. These findings are difficult to reconcile with traditional theories that link investment opportunities to firm valuations, but instead suggest that the ability of firms to raise external finance rises and falls with the stock valuations of other firms located nearby. Consistent with this explanation, I document that financially constrained firms issue more debt and receive more trade credit when neighboring firms have high stock valuations.In the second chapter, I test models of return extrapolation in the cross-section of stock returns. Return extrapolation is a biased belief structure that has received considerable attention because of its ability to generate prominent empirical findings in the asset pricing literature, while also being able to match investor beliefs. I document that return extrapolation is not uniform across firms but is instead more prevalent among firms that do not pay dividends (capital-gain firms). Specifically, analyst return expectations are positively related to past annual returns for capital-gain firms but show no relation among dividend-paying firms. I exploit this difference in extrapolative expectations to test asset pricing predictions stemming from models of return extrapolation. Consistent with return extrapolation models, I show that the value premium and long-term reversal are stronger among capital-gain firms. Momentum, however, is stronger among dividend-paying firms and, consequently, does not appear to be a result of return extrapolation.In the third chapter, co-authored with Hannes Mohrschladt, we test whether reference prices impact how investors respond to news. When current prices are farther from a reference price, investors react more strongly to news. We first document that individual investors are more (less) likely to sell a stock following bad (good) news when the stock's trading price is farther from the investor's purchase price. Motivated by this micro-level evidence, we construct a stock-level measure to capture the distance between a stock's trading price and its purchase price for the average investor. We provide evidence that this distance from purchase price produces a substantial amount of cross-sectional variation in the degree to which stocks over- or underreact to news. Stocks trading farthest from their purchase price react more strongly to news than stocks trading near their purchase price. Consistent with relative overreaction, stocks trading farthest from their purchase price also exhibit greater return reversal following news days. We document that a cross-sectional strategy exploiting these return patterns earns a monthly alpha of 0.93%. These findings are distinct from alternative explanations related to size, illiquidity, and volatility. Our evidence instead suggests that reference prices have a meaningful impact on how investors respond to news.

1세대 1주택 비과세에 대한 문제점 및 개선방안

서신혜 연세대학교 법무대학원 2021 국내석사

Housing is one of the essential resources for living a life, and it is difficult to acquire alternative houses of the same value if taxes are imposed on the transfer of one housing for real residence purpose. In response, the Income Tax Act provides a non-taxable system for stabilizing housing and freedom of residence transfer if certain requirements are met when transferring a single house owned by a single generation. However, this non-taxation system of transfer income tax for one house per one household does not reflect the changes in the times, including the fundamental institutional problems that non-taxation systems have and there are problems such as the legal system that reflects the real estate market in the past. Therefore, this study aims to suggest improvement plans to solve these problems. First, In the current capital gains tax, there are residence requirements and ownership requirements as non-taxable requirements, among which residence requirements are limited to specific areas. For the purpose of the non-taxation system, more focus should be placed on residence than on ownership and in the case of major countries such as the United States, the United Kingdom, and Japan, non-taxation system does not apply if they do not live. Therefore, it is reasonable to expand the residence requirements nationwide and further apply non-taxation only for the actual period of residence. Second, If the taxable capacity is different, the tax burden must be different, and if the taxable capacity is the same, the tax burden must be the same. However, if you meet the non-taxation requirement, you will infringe equality of tax burden principle because there is no tax and it is a different source, but the issue of equity arises between the same income. In addition, there is a possibility of dispute because it is applied differently by case when judging ‘household’. Therefore, this study proposes a tax deduction method with a non-taxation limit for taxes that occur when one household transfer one house. This non-taxation limit is applied to each household, but it is reasonable to change the limit every time the number of family members increases, or to limit the limit by individual so that it can be adjusted together when family members are changed to various situations such as marriage or divorce. Third, not all one house of one household is non-taxation, and if it is an high-grade house, it is taxed if it exceeds the standard amount grade. However, since the standard amount grade of these high-grade houses has not changed for more than a decade since it was set up in 2008, it should be raised in line with the current housing market situation. In addition, there is a special deduction for long-term holding to prevent the bunching effect and adjust inflation when transferring houses, and special deduction for long-term holding rate of one house per one household is excessive, so it presents an ‘average inflation deduction' that directly adjusts inflation. Fourth, In order to acquire a house, a considerable number of people receive mortgage loans, repay them for a long period of time and incur interest costs, which are essential expenses for obtaining capital gains so it should be deducted as necessary expenses. In addition, other incomes can be totalized under the Income Tax Act and the Corporate Tax Act and the Income Tax Act allow for the loss of carryover. Therefore, if the loss occurs due to the transfer, it is necessary to allow the deduction of carryover from other income. 주택은 삶을 영위하는데 있어 필수적인 자원 중 하나인데 실거주 목적의 1주택 양도시 세금을 부과하게 되면 같은 가치의 대체주택을 취득할 때 어려움이 있다. 이에 소득세법에서는 1세대의 1주택 양도시 일정 요건을 만족하면 주거생활 안정과 거주이전의 자유를 위한 비과세 제도를 두고 있다. 하지만 이러한 1세대 1주택 비과세 제도는 비과세가 가지는 근본적인 제도적 문제점을 비롯하여 시대적 변화를 반영하지 못하고 과거의 부동산 시장에 맞춰져 있는 법제도 등의 문제점이 있다. 따라서 본 연구에서는 이러한 문제점을 해결하기 위한 개선방안을 제시하고자 한다. 첫째, 현행 양도소득세에서는 비과세 요건으로 거주요건과 보유요건이 있는데 이 중 거주요건은 조정대상지역에만 국한되어 있다. 비과세 제도의 목적으로 볼 때 보유보다는 거주에 더 초점이 맞춰져야 할 것이고 미국, 영국, 일본 등 주요국의 경우에도 거주하지 않을 경우 비과세가 적용되지 않는다. 따라서 거주요건을 전지역으로 확대하고 더 나아가 실거주한 기간에 대해서만 비과세를 적용하는 것이 타당하다. 둘째, 담세력이 서로 다르면 그만큼 세부담이 되어야 하고 담세력이 같으면 동일한 수준의 세부담이 있어야 한다. 하지만 비과세 요건을 만족하면 세금이 없으므로 조세평등주의를 침해하게 되고 다른 원천이지만 같은 소득간에 형평성의 문제가 발생한다. 또한, ‘세대’를 판정할 때 사례별로 달리 적용되는 경우가 있어 분쟁의 소지가 있다. 따라서 1세대 1주택 양도시 발생하는 세금에 대해 비과세 한도를 두어 공제하는 방안을 제안한다. 이러한 비과세 한도는 세대별로 두되 가족 구성원이 늘어날 때마다 한도를 변경시키거나, 개인별로 한도를 둠으로써 결혼이나 이혼 등 여러 상황으로 가족 구성원이 변경될 때 함께 조정될 수 있도록 하는 방안이 합리적이다. 셋째, 1세대의 모든 1주택이 비과세되는 것은 아니며 고가주택일 경우에는 그 기준금액을 초과하게 되면 과세된다. 하지만 이러한 고가주택의 기준금액은 2008년 설정 이후 10년 넘게 변동이 없으므로 현재의 주택시장 상황에 맞게 상향되어야 한다. 또한, 주택 양도시 결집효과를 방지하고 인플레이션을 조정하기 위해 장기보유특별공제를 두고 있는데 1세대 1주택의 장기보유특별공제율은 과도한 면이 있으니 인플레이션을 직접적으로 조정하는 ‘평균인플레이션 공제’를 제시한다. 넷째, 주택을 취득하기 위해 상당수가 주택담보대출을 받고 오랜기간 상환하며 이자비용이 발생하게 되는데, 이는 양도소득을 얻기 위한 필수적인 경비이므로 필요경비로서 공제되어야 한다. 또한, 소득세법상 다른 소득은 통산이 가능하고 법인세법 및 소득세법에서 이월결손금을 허용하고 있으므로 양도로 인해 손실이 발생했다면 타소득에서 통산하고 이월공제를 허용해야 할 필요가 있다.

우리나라 不動産 讓渡所得稅制 運營에 關한 事例 硏究

김영수 한양대학교 행정대학원 1986 국내석사

株式讓渡所得 課稅에 관한 硏究

이용진 漢陽大學校 1991 국내박사