예금자등의 과중한 납세협력비용을 경감하기 위한 예금보험공사 지급 보험금등의 원천징수방안 분석 = How to Revise Withholding Taxes on the KDIC’s Insurance Payout to Reduce Depositors’ Tax Compliance Costs

다국어 초록 (Multilingual Abstract)

This study suggests how to rationally revise tax laws to adopt withholding taxes on the Korea Deposit Insurance Company(KDIC)’s insurance payout to reduce depositors’ excessive tax compliance costs to perform the comprehensive income tax return obligation.
Under the current deposit insurance system, as the KDIC’s insurance payout to numerous small depositors is not subject to withholding tax, those depositors unavoidably have to perform the comprehensive tax return for fractional interest and dividend incomes included in the insurance payout, bearing large financial cost of burden, which is not to happen in ordinary occasions when financial institutions pay those incomes to depositors.
To solve those problems, the individual income tax law and its enforcement ordinance should be revised as below.
First, the individual income tax law should prescribe the depositors’ excess profit from the KDIC’s insurance payout as respective taxable incomes to give the KDIC the legal reason for withholding tax.
Second, the enforcement ordinance should prescribe the date for withholding tax and the taxable year for those incomes as the day and its corresponding year to prevent business confusion in tax practices.
Finally, the enforcement ordinance should allow the KDIC to replace its obligation to issue the withholding tax receipt to each depositor in paying those incomes with convenient bankbook/financial transactions statement notice to alleviate its onerous work burden.