투자펀드 과세제도 개선방안에 관한 연구

The purposes of this research are to analyze the problems of investment fund tax system and to derive a reasonable improvement plan. The theory of investment fund tax system and foreign investment fund tax system were reviewed, and taxation laws related to investment fund and previous studies were examined for this purpose. Also, an empirical analysis for the problems and improvement plan of investment fund tax system were conducted by collecting and analyzing the data from certified public accountants, certified public tax accountants and certified financial planners. The result of empirical analysis on the problem of investment fund tax system is that tax neutrality is not being maintained when the current investment fund tax system is compared to direct investment tax system. To solve the above problem, the followings are proposed for the plan to improve investment fund tax system. First, profits and losses from trade or valuation of bond should not be included in profits from investment fund. Second, distribution of profit from trade of assets of investment fund should be reserved, and let the fund investors can choose the general fund or the reserved fund. Third, ‘refund system by retroactive deduction of losses’ should be established on investment fund losses. Fourth, ‘general fund management accounts system’ should be established to integrate and manage multiple funds and to deduct losses from profits through that system. Fifth, the income generated during the transfer of funds should be considered as a dividend income.