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Tax reforms in capital market in Korea

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Frame of Image her to impose tax on incomes earned in capital market, and subsequently decide whether to implement transaction tax. □ Regarding tax reforms in capital market, it will be efficient to introduce comprehensive taxation on capital gains from both stock and derivatives markets, rather than pursuing piecemeal reforms such as expanding the scope of shareholders subject to stock transfer income tax. □ Currently, the government plans to collect tax from derivatives transaction starting from 2016, and it could be sufficient time to establish and test-drive a new capital gains tax system across the board and make further preparations to actually launch the system. □ It will be desirable to introduce capital gains tax in stock and derivatives markets, repeal stock transaction tax that has been levied to secure tax revenue, and not to introduce transaction tax for derivatives to avoid additional inefficiency and confusion. □ Meanwhile, the interested parties should come up with preemptive measures that can replace derivatives transaction tax in curbing speculation by individual investors.
* Opinions expressed are those of the author and do not necessarily reflect the official positions of the Korea Institute of Finance.
In August 2012, the Korean government announced a plan for tax reforms. It The government announced a plan for tax reforms, including lower tax base for global financial income tax, larger scope of shareholders subject to stock transfer income tax, and derivatives transac


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Title Tax reforms in capital market in Korea
Similar Titles
Material Type Reports
Author(English)

Youn, Taehoon

Publisher

Korea Institute of Finance

Date 2012-09
Journal Title; Vol./Issue Weekly Financial Review:21/37
Pages 13
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Economy < General
Economy < Financial Policy
Holding Korea Institute of Finance