REITs의 조기정착 방안에 관한 연구 : 부동산투자회사법과 조세제도를 중심으로 = (A) Study on the early settlement method of real estate investment trusts : focused on act of REITs and taxes system

다국어 초록 (Multilingual Abstract)

This research analyzes about Act of Real Estate Investment Trusts (REITs) and Taxes system for system fixing early stage ahead of enforcement of REITs system. REITs Act examines thoroughly substance of these law to tell enactment as was enforced and investigated about problem and improvement way, and raised necessity of taxes exemption laying stress on actuality example.
Problem of REITs Act and improvement way are as following.
First, need introduction of guarantee insurance system temporarily at system enforcement early for investor protection.
Second, it is problem of property storage trust when buy and sell. Because amount of money that REITs deals is big, need Escrow Account's introduction in dimension that protect this.
Third, it is qualification essential factor problem of property use professional human strength. Ability that this must equip and not to taking a serious view simple career by property professional manpower, that equip ability of regional analysis, market analysis, right analysis, development·management, sale in lots, financing, insurance connection analysis and so on is important. therefore, need introduction of investments in real estates analyst (CCIM) systems.
In these situation, REITs is judged must satisfy following condition to settle properly.
First, it may say as most urgent business that preoccupy high yield goods or possess ability that can cultivate high yield goods.
Second, tax system support that considers present real estate market situation may have to be. Effect of resource taxes benefit was expose by order of effect of corporate tax exemption> local taxes of acquisition step> exemption effect of special value-added tax> possession phases this local taxes exemption effect.
Therefore, must apply equally about real estate investment trust as except dividend total amount in corporate tax taxable when apportion more than 90% of profit available for dividend about corporation streamlining real estate investment trust.
Also, taxes of real estate investment trust's acquisition step may have to be total amount exemption benefit in point that is investment conduct such as corporation restructuring real estate investment trust.
Special addition tax be 50% exemption that know will be setting possibly now, and may become big help in real estate investment trust's operation if tax cut of possession step consists.
Third, need connection Infra construction of that distinguish stock index of real estate investment trust share from general stock index. When there are real estate connection various statistics and accuracy of information, real estate value and investment trust's assessment, accuracy of real estate business estimation and public trust rising, real estate market may become transparency.
It will be difficult that possess all above these condition at early of REITs system, but REITs market which invent stable high yield in our country like other advanced nation when face by carriage that prepare one by one is going to form. Also, as enforcing real estate Investment trusts Act July 2001, research that supplement lacking part, and see in dimension that grope way to minimize possible trial and error was achieved.

목차 (Table of Contents)

• 목차
• 第1章 序論 = 1
• 第1節 硏究의 背景 및 目的 = 1
• 第2節 硏究의 方法 및 構成 = 2
• 第2章 REITs 制度의 一般的 考察 = 3
• 第1節 REITs의 意義 = 3
• 第2節 REITs제도의 導入背景 및 豫想市場規模 = 8
• 1. REITs제도의 도입배경 = 8
• 2. REITs제도 도입의 필요성 = 10
• 3. REITs의 예상시장규모 = 13
• 第3節 外國의 REITs 制度 = 14
• 第4節 REITs 關聯租稅 및 資本豫算技法 = 20
• 1. 法人稅와 不動産關聯 租稅 = 20
• 2. 資本豫算技法 = 29
• 第3章 不動産投資會社法의 主要內容 檢討 = 39
• 第1節 設立機關 등 = 41
• 1. 회사의 형태 및 자본금 규모 = 41
• 2. 주식의 발행 및 상장분산요건 = 43
• 3. 자금조달 = 44
• 4. 기업의 지배구조 = 45
• 5. 현물출자 = 49
• 第2節 業務 등 = 51
• 1. 자산의 투자·운용방법 = 51
• 2. 자산운용 전문인력 = 56
• 3. 투자자문회사 = 57
• 4. 자회사 = 58
• 5. 수입·자산·배당의 구성 = 59
• 6. 개발형 부동산 사업 = 64
• 7. 거래제한 및 감독행위 = 65
• 8. 정보공시 및 투자자 보호 = 66
• 第4章 不動産投資會社法의 問題點 및 改善方案 = 68
• 第1節 問題點 및 改善方案 = 68
• 1. 保證保險制度의 限時的 導入 = 68
• 2. 資産運用專門人力의 資格要件 = 68
• 3. 資産保管의 委託問題 = 69
• 4. 조세문제 = 70
• 第2節 租稅減免의 必要性 = 71
• 1. 不動産投資會社에 대한 租稅支援案 = 72
• 2. 연구자료의 선정 = 73
• 3. 오피스빌딩 사례분석 = 77
• 第5章 結論 = 83
• 參考文獻 = 86
• ABSTRACT = 89
• 부록 = 92