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신성장동력 확보를 위한 국제조세문제

Title
신성장동력 확보를 위한 국제조세문제
Author
오윤
Keywords
신성장동력; 세액공제; 구조조정; 이월결손금; 원천지주의; new leading industry; tax credit; restructuring; loss carry-forward; source approach; 법학
Issue Date
2013-02
Publisher
한국국제조세협회 International Fiscal Association Korea
Citation
조세학술논집 Journal of IFA Korea, Feb 2013, 29, P.35-64, 30P.
Abstract
In this article the author intends to analyze the effectiveness of the current tax benefits on the 'new leading industries' in the Tax Benefit Limitation Act and to suggest better alternatives. The tax benefit is rendered on the R&D expenditures by businesses in the 'new leading industries' in a form of tax credit which is additive to the existing R&D tax credit. The 'new leading industries' under this additional credit provision are designated by the government based on positive list system. According to a recent report of the National Assembly the volume of the tax benefit actually rendered is relatively minor, which in turn is explaining the tax benefit in the current provision is not so effective. From the perspective of international taxation, the original policy objective pursued through the tax benefit in the above would be achievable by rather long-term efforts to improve the investment environment of Korea, which make the international investors to select Korea as an investment location for such 'new leading industries'. The investment environment of Korea would be improved by increasing the degree of freedom in conducting business activities. The tax system will be one of the most important parts of the environment. In this juncture loss carry-over or carry-back has to be allowed in a more extensive manner than that in the current tax laws. The carried-over loss of the acquired(merged) company has to be allowed to be used by the acquiring(merger) company in case the two companies are to conduct business in a partnership mode after the acquisition or merger. For the acquisition of business across the border the tax deferral should be allowed as well although its scope should be limited for the sake of the protection of tax sovereignty. It may be viewed as a rather innovative and radical measure, but the source approach may well be accepted in the domestic tax laws so as to enhance the attractiveness of Korea as a potential location of investment companies or regional headquarters. Experiences of partial introduction of such system in Japan and China(in respect of Hong Kong) may become helpful examples for this purpose. In the current tax laws of Korea, there are substantial regulations on pricing activities of the businesses for international transactions with related parties, which are full of complex and uncertain provisions. The scope of ‘related parties’ in the current tax provisions should be reduced within those parties related by substantial control and common interest in this regard.
URI
http://www.dbpia.co.kr/Journal/ArticleDetail/NODE02110072http://hdl.handle.net/20.500.11754/44069
ISSN
1598-477X
Appears in Collections:
SCHOOL OF LAW[S](법학전문대학원) > Hanyang University Law School(법학전문대학원) > Articles
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