Research On Taxation System In The Security Market

Since the capital market emerges, taxation policy has critical influence on its development. As a new market, capital market, especially security market will be continuously impacted by the related taxation policies. Impartial and fair taxation policies could greatly promote the development of the market. The taxation system in security market ( "TSSM" in short) is defined as the taxation policies, rules , and regulations related with the behavior entities in the security market. It is very meaningful to implement TSSM in China, so as to build up a more healthy, stable and regulated security market. Through the analysis of economic effect of the TSSM, and the detailed comparison of TSSM between China and other developed countries and places, this article discusses the applicable experience in other countries' taxation practice, and points out the problems in the TSSM in China nowadays. And then this article comes out the primary ideas to implement China' s TSSM. To conclude the structure of this article in brief, 4 aspects are focused in research: 1) securities issuing stage; 2) securities exchange stage; 3) securities income stage and 4) transfer of securities assets stage. Besides, there are mainly 5 aspects of conclusion as follows : 1) To levy stamp duty in the first market (issuance market) and levy securities exchange duty in the second market (exchange market); 2) To levy Securities exchange Income tax; 3) To improve the levy of Securities investment Income tax ; 4) To levy Legacy and Bestowal Duty in the stage of transferring securities assets; 5) To strengthen levy management so as to prevent tax dodging.