중소기업 밸류업을 위한 세제 개선방안

Abstract

Small and medium-sized enterprises(SMEs) play a crucial role in economic development and job creation, but in reality, they face a challenging business environment compared to large corporations and struggle with financing and technology development. This study aims to propose tax improvement measures that can aid in the value-up of SMEs by supplementing the revised draft of the tax policies to promote shareholder returns announced by the government in July 2024. First, the currently announced revised draft of the corporate tax special provisions to promote shareholder returns applies the same standards to large corporations and SMEs. Since SMEs return less to shareholders compared to large corporations, it is necessary to differentiate the corporate tax special provisions between large corporations and SMEs in order to promote shareholder returns for SMEs. And considering the characteristics of SMEs, it is proposed to relax the requirements for corporate tax special provisions. For SMEs defined under the 'Framework Act on Small and Medium Enterprises,' the condition for qualifying corporations should be eased to an increase in the amount returned to shareholders compared to the previous year and an increase of more than 3% compared to the average of the past three years. Additionally, it is proposed to expand the amount eligible for corporate tax deductions to include the amount returned to shareholders that exceeds 103% of the average shareholder return amount over the past three years (excluding the proportion for controlling shareholders, etc.), and to apply a deduction rate of 8%. Second, to promote and maintain stable investments by SMEs, it is proposed to expand the corporate requirements in the revised draft in the same manner as the improvements in the corporate tax special provisions. Additionally, it is suggested to lower the withholding tax rate to 5% and allow for separate taxation at 13% if subject to comprehensive taxation. These tax improvement measures will promote dividends by SMEs, which will be reinvested back into the SMEs, thereby creating a foundation that can lead to the value-up of SMEs. Through this virtuous cycle, SMEs will establish a foundation for autonomous growth and contribute to the overall development of the national economy. This study is significant in that it reviews the revised draft of the tax law to promote shareholder returns and proposes improvement measures for the value-up of SMEs.