해외투자펀드 투자손실 과세문제 연구

다국어 초록 (Multilingual Abstract)

The investment trust is a kind of collective investment schemes in a form of trust enabling the property left in trust by the client which is a collective investment management company to a custodian to be invested and managed according to the instruction of the collective investment management company. The investment trust could be called an investment fund using trust scheme as a mediating method for separating fund investor and investment manager as well as separating the owned property of investment manager and the property of investor.
The investor gets to participate in the investment by acquiring the securities of investment trust beneficiary certificate. Because investment trust is performance dividend product, it may result in a loss of investment depending on the result of investment. But the current tax law includes the problem of imposing taxes even in case the investment loss has occurred. In other words, the instance in which the interest or dividend income is created within the fund although investment loss has occurred and the instance in which the investment profit from the starting point of investment to the concerned settlement date while including the settlement date in the middle of investment term although the investment loss has occurred fall under here. The former case occurs because of partial profit/loss tax exemption regulations (enforcement ordinance of income tax law section 23 article 4) and the latter case occurs because of reinvestment revenue period regulations according to tax law (enforcement ordinance of income tax law section 46 article 7).
The partial profit/loss tax exemption regulations are the regulations made considering direct investment and balance of investment. While all income returned to investment trust is taxed as dividend income by being added up regardless of the type of initial income, all tax exempted income becomes taxable gain/loss as it gets invested indirectly in case of direct investment if there are no legislative considerations. The tax law sets the partial profit/loss tax exemption regulations considering these facts. These regulations set their details as tax exempting the sales assessment profit/loss created from fixed securities such as stocks, etc . At this time, the profits as well as the losses are tax exempt. Accordingly, the problem of being taxed even after resulting in a loss as the interest or dividend income is taxed without being summed up in case the sales loss is greater than the interest or dividend income which belong to the fund.
The reinvestment revenue period regulations are the regulations setting the date of reinvestment as the revenue period in case of deciding to reinvest the settlement dividend of the fund by a special contract. These regulations stand for imposing taxes by separating the investment profit before settlement and investment profit after settlement in case there is settlement date during the investment period of investor. According to these regulations, in case the investment loss is created after the settlement although tax is imposed because investment profit is created before the settlement, it is not summed up and nullified. In case the loss after settlement is great than the profit before settlement, it results in being taxed even after resulting in an investment loss. Despite the fact that settlement date is not an important factor in decision making of the investment, the current tax law imposes taxes by classifying the taxation period this way and prohibits summing up.
The current tax law considers investment trust as a type of trust. The tax law imposes taxes by classifying the trust as investment and other types of trust while classifying the income created from investment trust as dividend income. In case of other types of trust, it imposes taxes by each detail of initial income which belongs to the trust property. Although both are types of trust, their taxation method is completely different.<BR

목차 (Table of Contents)

• Ⅰ. 서론
• Ⅱ. 해외투자펀드의 개념과 투자펀드 관계인
• Ⅲ. 투자신탁세제의 내용
• Ⅳ. 일부손익과세제외규정 및 재투자수입시기 규정의 문제점과 개선방안
• Ⅴ. 결론
• 〈參考文獻〉
• 〈Abstract〉

참고문헌 (Reference)

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