집합투자증권 양도시 소득세 과세의 문제점 및 개선방안에 관한 연구

The purpose of this study is to investigate the kind and the transfer method of Collective Investment Securities and taxation status. In addition to this, we suggest the improvement plan of these after we study the taxation status and problem mainly. For the this study, First, we concretely examine the taxation of the kind and method for transferring Collective Investment Securities regarding previous income tax law and current income tax law under Indirect Investment Asset Management Business Act & Financial Investment Services and Capital Markets Act. Second, we seek the improvement plan after we study the appropriateness of taxation and tax exemption. Under previous income tax law, there was no consistency regarding above mentioned taxation as the income from interest, income from dividends and transfer income etc. in accordance with the kind, transfer method and listing of Collective Investment Securities. In addition, there is the improvement of taxation regarding the transfer of Collective Investment Securities that this income would be taxed as the income from dividends and the listed Collective Investment Securities would be non-taxable income regardless of the method of transfer as follow the operation of FSCMA. By the way, there are still some problem that different taxation in accordance with the legal form of the Collective Investment vehicle, simple application to the tenure taxation of the bond and the possibility of tax avoidance through transaction of “formally” listed securities. To settle the problem of taxation regarding Collective Investment Securities and to improve the impartiality and equality of taxation, we suggest that the current taxation of bond's holding period interest income regarding the transfer of Collective Investment Securities should be deleted and all kind of the transfer of Collective Investment Securities would be taxed as transfer income tax. To reduce the tax compliance costs and tax co-operation cost of investors, the withholding taxation and tax base standard price system should be introduced newly and the tax rate of transfer income tax should be same rate about the short covering of the Collective investment vehicle. In addition to this, we cam consider that the partnership taxation will be applied to the Collective investment vehicle as the investment association which have the character of private placement and business purpose after taking account of economic substance. As introduction of FSCMA, in accordance with the legal system improvement like that the kind and the enlargement of investment of Collective investment vehicle etc. is done in a nowaday, we examine the problem of transfer income tax of Collective Investment Securities and suggest the improvement plan which reflect the impartiality and simplicity of taxation. Finally, we expect that this study will be useful to prepare reasonable standard of taxation regarding the transfer of Collective Investment Securities afterward.