자기주식의 취득을 둘러싼 조세문제

The present business environment in Korea is getting more and more into the globalization and internationalization, activating M&A as a part of severe competitiveness and reconstruction. In addition, the corporations threatened by M & A tend to defend themselves by repurchasing Treasury Stock.The Treasury Stock means corporation's purchase of its own outstanding Stock. Since the repurchase of Treasury Stock may influence on the fund, profits and losses of the corporation causing the taxation problems, however, the National Tax Law doesn't have relevant provisions. Therefore, it is important to arrange the related provisions regarding the Treasury Stock referring to the foreign provisions.Specifically, the present Corporate Tax Act doesn't have systematic provisions regarding the entire Treasury Stock process. However, only the provisions of stock redemption and treasury stock by M & A exist in the Corporate Tax Act, and the taxation process provisions of pre-owned stock redemption and sales profits are provided in the General Provisions of the Act. It is obviously different from the IRC in the United States providing the unified provisions on the Treasury Stock. Considering the present business conditions of Korea, it is extremely important to enact the clear provisions on the Treasury Stock in National Tax Law.In case of the recently revised Securities and Exchange Act, the listed Corporations are able to repurchase Treasury Stock as much as they like within the scope of dividend profits. The taxation problems are more likely to arise and it is urgent to consider the appropriate regulations on these matters.