학술논문
상속세, 경제적 기회균등 보장하는가?
이용수 297
- 영문명
- Does Inheritance Tax ensure Equal Economic Opportunity?
- 발행기관
- 한국경제연구원
- 저자명
- 최명근(Myung Keun Choi) 조경엽(Gyeong Lyeob Cho) 노성태
- 간행물 정보
- 『한국경제연구원 연구보고서』연구보고서 2006-10, 1~145쪽, 전체 145쪽
- 주제분류
- 경제경영 > 경제학
- 파일형태
- 발행일자
- 2006.11.01
20,200원
구매일시로부터 72시간 이내에 다운로드 가능합니다.
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국문 초록
영문 초록
A group of major advanced nations is abolishing death tax as it is being widely recognized that achieving equality of economic opportunities through death tax is nearly impossible in an global era when economic borders are gradually losing their meaning. This trend in policy change reflects the possibility that sustained imposition of irrational and burdensome death tax may hurt international competitiveness of the economy by reducing savings and hampering the accumulation of financial resources needed for investment. The change in the attitudes towards death tax also reflect the fact that it could promote outflow of national wealth in an era of capital liberalization, even providing incentives to the wealthy to change its nationality to those countries where death tax is either low or nonexistent.
The aim of this study is twofold. First, it reviews the problems associated with the current death tax system in Korea while focusing on its institutional aspects. Second, using an overlapping generation model, it analyzes the effects of death tax on the individual welfare of different components of the social strata and the macroeconomic variables such as consumption, savings, investment and GDP. The empirical results show that reducing the death tax rate by 40% from its current level raises GDP by 0.06%, the welfare of those with expected inheritance by between 0.1378 trillion and 0.1847 trillion korean won on yearly average, and the welfare of those without expected inheritance by between 307 hundred million and 0.4837 trillion korean won. In sum, it is expected that total social welfare would rise by between 0.1685 trillion and 0.6683 trillion korean won. In an opposite scenario, strengthening the death tax system is shown to result in a downward equalization where the welfare of both of those with and without expected inheritance is reduced due to economic inefficiency. The analysis shows that the welfare of the low-income class and equality of income distribution improve through death tax increases only if the elasticity of substitution is abnormally high.
Abolishing death tax cannot be a practical policy alternative as we do not yet have a satisfactory capital gains tax system in place and incorporated into the income tax framework to block potential tax evasion it may cause. Hence improvement in the social infrastructure regarding taxation such as real-name accounting needs to be made to enhance transparency of economic transactions before abolishing death tax and substituting it with capital gains tax. Until tax-related infrastructure is soundly established, the burden of death tax should be mitigated through lowering the rates and improving the underlying institutional infrastructure. In addition, it is recommended that the death tax rate be lowered from its current level of 50% to the level of the capital gains tax. Furthermore, institutional conversion to a form of acquisition tax, in line with the ability-to-pay principle and the policy of suppressing concentration of wealth, is required. A conversion to schedule system from the all-inclusive principle that violates the principle of no tax without law and permits tax authorities liberal discretion is also needed. Further, this process should be accompanied by a reform of irrational legal provisions in the current institutional framework. It is logical to replace gift tax on gains from buying low and selling high with income tax. A gift tax on scalp arising when stocks get listed needs to be replaced by capital gains tax. An additional gift tax on profits earned due to the rise in the asset"s value occurring after the initial gift tax is imposed should be replaced with capital gains tax. Finally, income from a gratuitous real estate should be imposed not a gift tax but income tax.
The aim of this study is twofold. First, it reviews the problems associated with the current death tax system in Korea while focusing on its institutional aspects. Second, using an overlapping generation model, it analyzes the effects of death tax on the individual welfare of different components of the social strata and the macroeconomic variables such as consumption, savings, investment and GDP. The empirical results show that reducing the death tax rate by 40% from its current level raises GDP by 0.06%, the welfare of those with expected inheritance by between 0.1378 trillion and 0.1847 trillion korean won on yearly average, and the welfare of those without expected inheritance by between 307 hundred million and 0.4837 trillion korean won. In sum, it is expected that total social welfare would rise by between 0.1685 trillion and 0.6683 trillion korean won. In an opposite scenario, strengthening the death tax system is shown to result in a downward equalization where the welfare of both of those with and without expected inheritance is reduced due to economic inefficiency. The analysis shows that the welfare of the low-income class and equality of income distribution improve through death tax increases only if the elasticity of substitution is abnormally high.
Abolishing death tax cannot be a practical policy alternative as we do not yet have a satisfactory capital gains tax system in place and incorporated into the income tax framework to block potential tax evasion it may cause. Hence improvement in the social infrastructure regarding taxation such as real-name accounting needs to be made to enhance transparency of economic transactions before abolishing death tax and substituting it with capital gains tax. Until tax-related infrastructure is soundly established, the burden of death tax should be mitigated through lowering the rates and improving the underlying institutional infrastructure. In addition, it is recommended that the death tax rate be lowered from its current level of 50% to the level of the capital gains tax. Furthermore, institutional conversion to a form of acquisition tax, in line with the ability-to-pay principle and the policy of suppressing concentration of wealth, is required. A conversion to schedule system from the all-inclusive principle that violates the principle of no tax without law and permits tax authorities liberal discretion is also needed. Further, this process should be accompanied by a reform of irrational legal provisions in the current institutional framework. It is logical to replace gift tax on gains from buying low and selling high with income tax. A gift tax on scalp arising when stocks get listed needs to be replaced by capital gains tax. An additional gift tax on profits earned due to the rise in the asset"s value occurring after the initial gift tax is imposed should be replaced with capital gains tax. Finally, income from a gratuitous real estate should be imposed not a gift tax but income tax.
목차
발간사
요약
제1장 서론
제2장 상속과세 존폐논쟁과 주요국의 입법 동향
제3장 우리나라 상속과세의 현황과 문제점
제4장 상속세의 경제적 파급효과
제5장 결론
참고문헌
Abstract
요약
제1장 서론
제2장 상속과세 존폐논쟁과 주요국의 입법 동향
제3장 우리나라 상속과세의 현황과 문제점
제4장 상속세의 경제적 파급효과
제5장 결론
참고문헌
Abstract
키워드
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참고문헌
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