재산과세부담의 국제적 비교분석

This study aimed to find the implications of the empirically analyzed burdens of the taxes on property (property tax, estate, inheritance and gift tax) by estimating the income elasticity of tax revenue (buoyancy) of the major OECD countries such as Korea, Austria, Canada, France, Germany, Japan, United Kingdom, and United States, using the annual data from 1990 to 2013 in the macroscopic view. Furthermore, this study also intends to seek implications for tax policy by comparatively analyzing the results of analysis with major OECD countries. The empirical analysis was conducted by estimating income elasticity of tax revenue [buoyancy], assuming that the effects of tax law revision are not considered. Based on the results, policy implications on the burdens of the taxes on property tax were determined. Major results are as follows. First, in terms of elasticity[buoyancy] of consumption tax toward GDP, it was found that if the GDP of all 8 countries increases, property tax revenue also increase. Second, in terms of the estate, inheritance and gift tax, the property tax revenue increased in all countries except for Austria and Canada with the increase of GDP. Third, in the analysis after eliminating auto-correlation, the results were similar to those before eliminating auto-correlation in all countries except Germany and Japan. Korea had the lower income tax and general consumption tax lower and the higher corporate tax, property tax than the average OECD countries. These findings can be used to provide several implications for tax policy. However this study has several limitations that can be addressed in the future research.