The financial capital gains from neither listed stocks nor financial derivatives are taxable in Korea. Originally, this non-taxation policy was intended to develop our financial markets to raise funds and boost economic development. But as our stock and financial derivatives markets are now at a world-class level in terms of trading volume and infrastructure, this type of tax assistance has become outdated. Rather to improve the fairness of our tax system, the introduction of capital gains tax on the gains from financial assets trading is necessary.
One of the most worrisome aspects of this change is the likelihood of negative impacts on the financial markets. If there are ways to measure those impacts reliably on the market in advance, it would be straightforward for the government to carry out this change. Unfortunately, it is almost impossible to predict those impacts in a reliable way. (The rest omitted)
- 자본이득과세제도의 정비에 관한 연구(The introduction of capital gains taxation on financial assets in Korea)
- 홍범교; 김진수
자본이득과세제도의 정비에 관한 연구(The introduction of capital gains taxation on financial assets in Korea)
금융자산에 대한 자본이득세를 중심으로
|Subject Country||South Korea(Asia and Pacific)|
|Subject||Economy < Economic Administration|