주주과세제도의 문제점과 개선방안

Abstract

[Purpose] The distribution of company property to shareholders has become smoother since the revision of the Commercial Act in 2011, including allowing reserve reduction dividends. However, the related shareholder taxation system still needs to be revised. The purpose of this study is to improve the shareholder taxation system in case of reserve reduction dividends, paid－in capital increase, and capital reduction. with awareness of the problem that the shareholder taxation system is inadequate. As a result, this study aims to propose a realistic tax law amendment.
 [Methodology] Analysis of relevant overseas cases (USA, Germany, Japan) and related previous studies were investigated and presented.
 [Findings] First, there is an inadequacy in that when dividends are reduced by reserve, if dividends exceed the acquisition price of stocks held by shareholders, taxation is not imposed. In relation to this, the Corporate Tax Act stipulates that taxation will be imposed from 2023, but the Income Tax Act has not yet been revised. Accordingly, a revision of the Income Tax Act was proposed. Second, in Korea, capital reduction is treated as dividend income and taxed. However, the economic nature of capital reduction is closer to the transfer of stocks by shareholders. The current calculation structure of fictitious dividend income is also very similar to the capital gains method. Therefore, this study proposed that fictitious dividends be taxed as capital gains under the Income Tax Act. Third, if the compensation received due to resignation, withdrawal, or reduction in investment exceeds the acquisition price of the stock, it is taxed as a fictitious dividend. At this time, there is a problem in that dividend income varies depending on the acquisition price. Accordingly, this study proposed dividing the profits distributed to shareholders into the return of capital and the distribution of profits.
 [Implications] This study has implications in that it suggests ways to improve the shareholder taxation system that can minimize friction with the current tax law and increase legal stability.