외국인 관광객 숙박업 부가가치세 조세특례 제도의 경제성 분석：비용－효과 추정을 중심으로

[Purpose]This study analyzed the economic performance of the “zero－rated VAT for accommodation for foreign tourists” tax exemption, which is mainly used to attract foreign tourists in Korea. [Methodology]The economic analysis was basically based on the cost－effectiveness analysis method, and three scenarios were set according to the price transfer elasticity of 75%, 32%, and 0%. [Findings]For scenario 1, the value－added effect for 2024－2026 was KRW 102,222 million, KRW 110,341 million, and KRW 119,105 million, with tax revenue losses of KRW 146,338 million, KRW 149,445 million, and KRW 152,587 million, resulting in a 70%－74% cost－effectiveness ratio. Scenario 2 projected value－added effects of KRW 43,615 million in 2024, KRW 47,079 million in 2025, and KRW 50,818 million in 2026, with tax deficits between KRW 152,198 million and KRW 159,416 million, giving a 28.7%－31.9% cost－effectiveness ratio. Scenario 3, with 0% elasticity, forecasted a 0% cost－effectiveness ratio from 2024 to 2026. [Implications]Even at a high level of price pass－through (75%), the cost－effectiveness ratio of the tax incentive system was up to 74%, suggesting that it is somewhat inadequate. Nevertheless, as the zero－rate system is considered to be more effective than the post－refund system, the timely implementation of the value－added zero－rate system is worthy of consideration in the future.