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배당소득과세제도의 개편방향(Reform proposal for the dividend taxation) : 배당소득의 이중과세조정방안을 중심으로

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  • 배당소득과세제도의 개편방향(Reform proposal for the dividend taxation)
  • 김진수
  • 한국조세연구원


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Title 배당소득과세제도의 개편방향(Reform proposal for the dividend taxation)
Similar Titles
Sub Title

배당소득의 이중과세조정방안을 중심으로

Material Type Reports
Author(Korean)

김진수

Publisher

서울:한국조세연구원

Date 2004-12
Pages 193
Subject Country South Korea(Asia and Pacific)
Language Korean
File Type Link
Subject Economy < Economic Administration
Holding 한국조세연구원

Abstract

In Korea, the imputation method is used as the relief measure of double taxation for individual shareholders, and the dividend exclusion method is used as the relief measure of double taxation for corporate shareholders. However, if the double taxation of dividend is not fully relieved or the tax system does not maintain neutrality after the relief, it would have an influence on firm's behavior such as the choice of business form, the preference of debt to capital, and the distortion of dividend policy.
This study shows that dividend taxation has several problems as follows. First, the relief of double taxation is not sufficient, because the corporate income tax that was levied at the corporate phase is not fully relieved at the shareholder phase. Second, since the tax burden of high income bracket is not so high as compared with that of low income bracket, this is utterly opposed to the purpose of individual income tax, fair taxation and income redistribution through the progressive rate of tax. Third, there is the discriminative tax treatment of common corporation and holding company in enforcement of the dividend exclusion method, Fourth, taxation is not neutral in choosing the form of business, private business or corporation. Fifth, the dividend taxation does not adhere to neutrality between dividend and reservation of profits, which makes firms prefer reservation of profits to dividend. Sixth, the dividend taxation does not adhere to neutrality between capital and debt, which makes firms prefer debt to capital. (The rest omitted)