기업회생에 대한 조세제도 합리화 방안―조세우선권 및 채무면제를 중심으로―

In order to help the rehabilitation of corporations facing financial difficulties, there are special provisions on taxation in the Integrated Bankruptcy Act, the Corporate Tax Act and the Restriction of Special Taxation Act. Special provisions on taxation mean the exception of the priority of taxes, tax reduction, tax exemption, tax deferral etc. It is necessary to provide appropriate tax support and to yield the priority of taxation to the extent for the revival of the insolvent corporations. In this research I suggested 3 ways to improve the taxation system for corporate reorganization. First, the tax collected by withholding resulted from income deemed as bonuses of the representative should be classified into rehabilitation claims under the Integrated Bankruptcy Act, when a revenue is flowed out of the corporation before the rehabilitation procedures commence, even though the notice of change in the amount of income is delivered to the corporations after the rehabilitation procedures commence. In addition, a state and a local government's right to consent on a collection deferral of taxes more than 3 years should be replaced by right to state the opinions in the court. Secondly, only the insolvent corporations should be entitled to deduct the amount of the debt exemption as carried forward losses. The general debt- exempted gains should be added to its gross income for 3 business years after corporations are back to normal. The debt-exempted gains from debt -equity swap should be added to its gross income for 5 business years after normalization of corporations. The debt-equity swap is more desirable tool than general debt-exemption from a policy perspective, so greater tax benefits for the debt-equity swap can be justify. Also it is reasonable to grant the tax benefit to non-financial institutions as well as to financial institutions for equality among creditors. Thirdly, when the insolvent corporations convert their debt into equity, the creditor should be allowed to include debt-exemption in deductible expenses when computing their incomes for the relevant business year. Also the acquisition value of stocks acquired by debt-equity swap should be market price to maintain consistency with other assets.