금융상품의 장기자본차익을 세제상 우대해야 하는가? - 조세정책적 고려사항을 중심으로 -

[Purpose]The purpose of this study is to examine whether the long-term capital gains tax preferential policy not only helps to raise funds for old age people and revitalize long-term financial investment due to the aging population, but also suppresses the short-term investment tendency of the stock market and contributes to the development of corporate governance. [Methodology]This study examined the theoretical discussions of previous studies on long-term capital gains in financial products, investigated the status of preferential policies for long-term capital gains in OECD countries, and reviewed the government's financial tax system advancement plan. [Findings]Many OECD countries have implemented policies that preferentially treat long-term capital gains in tax terms, However, long-term capital gains tax support may hinder tax equity. Reducing effect of the lock-in effect and the bunching effect by the government's plan in 2020 is not expected to be significant. [Implications]It is necessary to review various criteria for each asset type and each investor in addition to the holding period criteria as the long-term capital gains tax preferential criteria. The ring-fence rule to prevent tax evasion is also necessary.