Research On China's Reform Of Securities Transaction Stamp Tax

Securities market has many important functions for economic development in one country, such as optimizing the allocation of resources, leading to capital flows, financing and adjusting macro-economic, etc and is an important part of capital market. With the increasingly improvement of securities market position, its developing status influences developing speed of domestic economy directly. The taxation, as an important action of country's macro-control economy, is one of an important external factor for guarantee the healthy and steady development of securities market. In our country, tax rate of stamp tax for stock exchange has a very strong meaning of macro-control. It is generally believed that the change of tax rate can influence securities market quotation, but the disputing key point of professors from all counties is that securities market control by adjusting tax rate of stamp tax for stock exchange can achieve the expected target of regulatory authority or not. This paper is based on general theory of stock exchange tax and makes the positive analysis for recent seven adjustment of stamp tax. The paper point existing problems and reasons of stamp tax system for stock exchange in our country. Through the comparison with stamp tax system for stock exchange in developed country, the paper provide some better advice for our country's situation.The body part of this paper is divided into six sections.The first section mainly state the purpose of selecting topic and study significance of this paper and introduce the creation, defects and study method and induce the existing domestic and foreign studies.The second section is the basis theory of stamp tax for stock exchange. This part mainly introduce the definition of stamp tax for stock exchange, the function and types of tax object and relevant basis theory of stamp tax for stock exchange, making a comprehensive understanding of stamp tax for stock exchange for us.The third section is based on adjustment of seven stamp tax rate from 1997 to 2008 and inspect the influences between adjustment of seven stamp tax rate and wave properties and Liquidity of our securities market. The fourth section state the status of our stamp tax for stock exchange in recent days and point out existing problems and make an analysis for the problems.The fifth section compares the action in securities tax system from some developed areas and countries and obtains the inspiration and experience worthy to studying for us from the comparison.The sixth section is the analysis, comparison and experience studying for above sections and propose some pertinent policy suggestion for the improvement and development of stock trading stamp tax system in our country.