주식대차거래의 과세상 쟁점 및 개선방안

Abstract

The Supreme Court decision in 2010 augmented a incentive to choose the Security Lending transactions for avoidance or saving of the Capital gain tax, but the Income Tax Law is still unclear. This study reviews the taxation issues about source of income and transaction in the Security Lending transactions, thereby wanting to offer a basic grounds of taxation. Firstly, the Security Lending transactions is transferred the ownership, but the substantial ownership is still retained by the lender, and it is no transfer by the Income Tax Law. Therefore the standard of major shareholder by the Capital gain tax is should cover a lending stock. With regard to this application, it would be a means by a existing provision or a new legislation. Secondly, in reference to deciding the acquisition cost of the borrower about the object, it should enact a provision related to the acquisition cost and the income attribution. Finally, the tax credit for dividend about the substitute payment of dividend is proper that the lender should be deducted. Although a third party should be deducted, only if that the borrower transfers a lending stock to a third party. This change of the Tax Law in 2013 is not suggest a definite alternative about an all-round taxation issue for Security Lending Transactions. Additionally, it is necessary to revise the Tax Law about the considering the problem in above.