조세구조가 법인 및 비법인간 소득이전에 미치는 영향 실증 분석

Abstract

본 논문은 1982년부터 2010년까지 법인소득세율, 개인소득세율 및 배당소득세율 등의 조세구조가 법인 및 비법인간의 소득이전에 어떠한 영향을 미치는지 분석하고자 하였다. 세계 각국은 조세경쟁(Tax Competition)에 들어서 있으며, 어느나라가 거주지주의와 원천지주의 중 어떠한 과세원칙을 따르는지는 매우 중요한 사실이 되었다. 또한 각종 조세협정을 통한 탈세방지에 노력을 기울이고 있다. 일예로 거주지주의 과세제도와 원천지주의 과세제도중 어떠한 제도를 채택하느냐에 따라서, 또 포괄적 소득세제(omprehensive income tax system)나 이원적 소득세제(dual income tax system)중 어느 원칙을 따르느냐에 의해 해외기업의 유치와 자본유치에 더 큰 장점을 가질 수 있다. 세계각국의 탈세방지를 위한 노력과, 조세경쟁 및 세원확보를 위해 많은 국가들이 상대적으로 낮은 법인세율을 유지한는 정책이 맞물려 법인, 비법인간 소득이전효과가 나타나고 있다. 높은 개인소득세율은 기업부문에 자본이득세를 덜 낼 수 있는 일종의 피난처 역할을 제공하였고, 투자자들은 해외 금융계좌에 의한 탈세가 아닌 법인과 비법인간의 소득이전으로 비슷한 효과를 노리고 있다. 분석결과 법인부문으로의 소득이전효과가 관측되었는데 법인수익률의 1%p증가는 세전기업이익을 0.091%p 증가시키는 것으로 나타났다. 비법인 투자수익률의 경우 법인부문으로의 소득이전에 (-)효과를 타나내며, 1%p의 비법인 투자수익률의 증가는 세전기업이익의 -0.097%p 감소를 초래하였다. 분석방법은 확률효과모형(Random Effect Model)을 사용하였고, 분석프로그램으로는 STATA 12를 사용했다.

| The present paper analyzes the effect of the tax structure on the income shifting between corporate and noncorporate sectors in OECD countries for the period 1982-2010, where tax structure refers to the mix of taxes on corporate, individual, capital gain and dividend. These days, it is important for countries which are engaged in tax competition to introduce which tax system. - resdience principle, source principle, comprehensive income system or dual income system. This is because the system which is choosed by country is related to tax enforcement and tax revenue If tax competition reduces corporate income tax rates below personal income tax rates, taxpayers will shift their income from the personal to the corporate sector. Also high personal tax rates make corporate sectors as tax shelter. So taxpayers may avoid income taxes by holding financial assets in the corporate sector not by holding bank accountr in other countries. The empirical analysis suggests that corporate profit is positively correlated with corporate earnings as percent of GDP. According to this paper, a one percentage point incerease in the corporate profit increases the corporate earnings per GDP by 0.091 percent point. And one percent point increase in noncorporate sector profit is associated with a 0.097 percent point decrease in corporate earnings as percent GDP. Consequently, this income shifting has importatnt implications for the plan to enforce taxation of financial capital and tax policy; The present paper analyzes the effect of the tax structure on the income shifting between corporate and noncorporate sectors in OECD countries for the period 1982-2010, where tax structure refers to the mix of taxes on corporate, individual, capital gain and dividend. These days, it is important for countries which are engaged in tax competition to introduce which tax system. - resdience principle, source principle, comprehensive income system or dual income system. This is because the system which is choosed by country is related to tax enforcement and tax revenue If tax competition reduces corporate income tax rates below personal income tax rates, taxpayers will shift their income from the personal to the corporate sector. Also high personal tax rates make corporate sectors as tax shelter. So taxpayers may avoid income taxes by holding financial assets in the corporate sector not by holding bank accountr in other countries. The empirical analysis suggests that corporate profit is positively correlated with corporate earnings as percent of GDP. According to this paper, a one percentage point incerease in the corporate profit increases the corporate earnings per GDP by 0.091 percent point. And one percent point increase in noncorporate sector profit is associated with a 0.097 percent point decrease in corporate earnings as percent GDP. Consequently, this income shifting has importatnt implications for the plan to enforce taxation of financial capital and tax policy