일본의 외국자회사배당 익금불산입제도의 도입과 그 시사점

Abstract

In 2009 Japan introduced the system of exclusion from taxable income for dividends to foreign subsidiary companies for the purpose of profit reflux retained at such companies. Key point of the system is to exempt taxes from 95% of the dividends in case a Japanese mother company has received any dividends from its foreign subsidiary company. Purpose of this study is to find out any implications from above case with respect to object of the introduction. Its summary is as follows;First, we cannot expect occurrence of such effect definitely that reflux of profit will be made due to introduction of the system of exclusion from taxable income for dividends to foreign subsidiary companies and that the reflux of profit will be effectively invested in Japan at the same time. Therefore, it would be easy to understand that the system will become as a system for neutralization of dividend policy and simplification of tax system at the present stage. Second, it is a matter related to tax system against tax haven. Tax haven system should be interpreted as a system to prevent income (profit) of a mother company, which has to recognize it as its own income, from being transferred to a certain foreign subsidiary company located in a tax haven country. Therefore, we cannot hastily assume that meaning of existence of tax haven system is damaged owing to introduction of the system of exclusion from taxable income for dividends to foreign subsidiary companies, which is just a change in the method for avoidance of double taxation. Third, such situation can really happen that income of a Japanese company is transferred to its foreign subsidiary company and is exempted from tax in Japan because dividend income is finally tax-exempted at the time of reflux to the country of the mother company due to introduction of said system. Fourth, it is a matter related to withholding tax levied by a foreign country. Since foreign withholding tax is excluded from foreign tax deduction accompanying the introduction of said system, they might be reluctant to bear taxes and thus, might not pay dividend. If high withholding tax rate is applied in a foreign country and tax rate is not reduced through amendment of treaty, a company may face a difficult situation to have reflux of money. Nevertheless, if a company pays dividends due to unavoidable necessity, it is theoretically possible that total tax burden may increase more than that prior to change of a system. Fifth, it is a matter of response to double non-taxation. In other words, it is a matter whether to apply exclusion from taxable income (tax exemption) to dividend which is treated as inclusion in expenses in the resident country of a foreign subsidiary company. If permitted as in Japan, double non-taxation is possible through investment/dividend between overseas related individuals and it may cause an international tax avoidance structure. Accordingly, it is deemed necessary to have an in-depth review to limit applicable extent according to nature of dividend revenue like England.