공매도의 과세체계 개선방안 연구

초록

From 2023, the government plans to implement a full taxation of ‘financial investment income’, but taxation on the short sales is not included. Considering the principle of equality of tax that the taxation should be given where income is located and the taxation of short sales in major foreign countries, Korea also needs to tax the gains from the short sale by individuals. In this study, three methods of taxation of the short sale were proposed. First, the taxation plan for stock transfer income is a method that can be taxed by integrating the gains and losses from the short sale with the gains and losses from stock transfers, emphasizing the fact that it can be viewed as a gain from the transfer of stocks. Second, as for the taxation method on derivatives transfer income, it is easy to regulate the taxation of gains and losses resulting from a series of the short sale repayments because the rules on derivative transfer income use the concept of ‘accounted for by a transaction or act’. Third, the taxation of other income is that it is difficult to view the gains from the short sale as stock transfer income or derivatives transfer income, but it should be taxed as other income in terms of justification for taxation. In conclusion, with the implementation of the financial investment income taxation system in 2023, short－selling gains and losses should be included as a type of derivative transfer income among financial investment income. This is because it may confuse taxpayers to tax other income as necessary for taxation at a time when financial investment income is implemented with more than one year left.

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