불확정 수익을 지급하는 혼성금융상품의 소득세법상 쟁점에 관한 연구

In this study, we examine the regulation of taxation on hybrid financial products in Korea, find out problems of financial product income taxation system including hybrid financial products, and suggest ways to improve them. For this purpose, the discussion of related studies and the US financial and hybrid financial product taxation system are analyzed. As a result of review of this study, the current Korean tax law states that hybrid financial instruments are classified as stocks or bonds and they are taxed on interest income and dividned income, or they are taxed on Derivatives-linked securities under the Capital Markets Law not belonging to stocks and bonds. They were taxed on the basis of realization method. In the case of the United States where the hybrid financial product market has developed, first, hybrid financial products are regarded as the same as stocks or bonds, and second, they are separately taxed according to the components of hybrid financial products. Third, the taxation is based on the taxation method based on the Contingent Payment Debt Instrument (CPDI), and is taxed in a relatively diverse manner. The recognition method of taxable income of hybrid financial products in the United States is the main method of taxation according to realization like Korea, but it also uses taxation method such as CPDI to tax according to accrual basis and to settle income. In Korea, taxation of hybrid financial products should be made in accordance with the characteristics of income that appears in the perspective of investors in the tax law. Appropriate taxation method should be applied according to this classification. Regardless of the cash flow and income nature of the investor, the current taxation method of dividing the income of hybrid financial products into dividend income or interest income should be changed. In addition, the taxation method should be applied to distinguish conditional return from hybrid financial products according to economic realities, and calculate the individual profit and loss of each financial instrument together with the integrated income, implement loss carryforward possible.