공적연금기금 운용이익의 과세여부에 관한 법제적 연구 -사학연금기금의 운용이익 과세를 중심으로 -

This study is designed to examine whether the corporate taxation on investment gains is appropriate in the Korean teachers’ pension funds. In the study, the appropriateness of the corporate taxation of the Korean teachers’ pension funds is examined based upon the following four points. The purposes of this study are to analyze the validity of taxation of the Korean Teachers’ Pension Fund gains and to suggest improvements in the accounting for the plans, such as estimating expenses arising from current operations, and recognizing as provisions for estimated liabilities when payments are to be made in the future and it is reasonable to match the obligations as expenses against the revenues of the current period. First, the appropriateness of the corporate taxation of KTP is analyzed in view of public interest and competition’s neutrality of taxation. That is, the corporate tax should be assessed unless the management of the KTP funds represents the public interest and the competitions’ neutrality of taxation is unfair. Accordingly, if the management of the KTP funds can establish that it represents the public interest and the competitions’ neutrality of taxation is unfair, the corporate income tax should be exempted. Second, the appropriateness of the corporate taxation will be reviewed in view of the character of the investment gain of KTP funds. Specifically, whether the investment gains are a pure gains or a debt will be examined. Third, whether the management of the KTP funds is an operation dependent on the inherent purpose of the operations or is the inherent purpose of the operations will be examined. If the management of the KTP funds is the inherent purpose of the operations necessary for pension payment, the corporate taxation should not be assessed. Fourth, the appropriateness of corporate taxation will be examined according to whether the pension fund is another entity separate from the subscriber or the pension fund is simply pipe. Accordingly, if the pension fund is simply based on pass－through theory not the real entity theory, the corporate taxation on the investment gains of the Korea teacher’s pension funds is improper. Pension is defined as a contract requiring the purchaser to pay a fixed amount for the right to receive a future stream of payments. Tax treatment is a receipt from contracts excess of the recovery on capital that is included in gross income. Therefore, this study attempts to correct the unequal taxation between the Pension Funds, and then I concluded with the tax exemption for the fund operation institution of Pension Funds.