상법‧자본시장법 및 조세법상 주식평가방법의 정합성 제고에 관한 시론적 연구

다국어 초록 (Multilingual Abstract)

Stock valuation acts as a determinant in adjusting the interests of corporate stakeholders, and has a direct impact on the tax burden due to stock transfer, inheritance, and gift. The key to stock valuation is fair market price. Only when the fair price or market price of stocks is found can the merger ratio, sales price, issue price, or purchase price be judged appropriately, and taxable income corresponding to the taxable power can be calculated. The Commercial Act, Capital Markets Act and tax laws adopt different standards or methods for stock valuation, which makes it difficult for companies and their stakeholders, as well as individuals and corporate taxpayers to make reasonable judgments and have to bear unnecessary efforts and costs.
The main purpose of the stock valuation standards in the Commercial Act and the Capital Markets Act is to find a fair market price and reasonably adjust the interests of business people. To achieve this goal, first of all, it is necessary to find a fair price that corresponds to the real value of the stock, and to do so, stock valuation factors such as market value, asset value, earnings value, and relative value must be appropriately utilized according to specific cases.
In order to impose taxation according to the taxpayers abilities of payment with ‘equality of tax burden principal’, a fair market price corresponding to the real value of stocks must be found. In the case of giving diversity to stock evaluation factors, ‘principle of no taxation without law’ may be damaged due to low predictability and legal stability. The tax laws have clear regulations on stock valuation standards, so even if it falls short of ‘equality of tax burden principal’, a choice is made to increase predictability in order to secure legal stability.
Even so, it is desirable for corporate stakeholders and taxpayers to unify matters that can be unified between the Commercial Act, the Capital Markets Act, the Inheritance Tax and Gift Tax Act, the Corporate Tax Act and the Income Tax Act in relation to stock valuation standards. It is because the Commercial Act and the Capital Markets Act and tax laws that the standards or methods for stock valuation are different are similarly legal and governmental regulations from the point of view of corporate stakeholders and taxpayers, and lead to costs.

목차 (Table of Contents)

• Ⅰ. 주식평가가 문제되는 경우와 주식평가의 규율체계
• Ⅱ. 상법 및 자본시장법상의 주식평가방법
• Ⅲ. 조세법상의 주식평가
• Ⅳ. 상법‧자본시장법 및 조세법 간 주식평가방법의 정합성 제고방안
• Ⅴ. 결어
• 참고문헌
• Abstract