Research On Capital Gains Tax Policy Of International Comparison In Securities Market And The Enlightenment

With the maturity of continuous development of China’s securities market，income fromcapital transferring will increase continuously， the base of capital gains tax is moreand more widely， whether and how to levy the tax of capital gains tax has become animportant research topic in the fiscal and taxation system. It is also important in the aspectof reform deepening and guaranteeing the stable development of the securitiesmarket. Correlation of securities tax system is a sub system of a country， with economicand social development and the establishment and development， the tax also has theimportant status and the function in this system. With China’s reform and opening up theprocess of development， the securities market position in China’s capital market is moreand more important， the securities market is to improve an important aspect of theestablishment of the socialist market economy in china. In this historical process， themain work of the nation is deepening the reform of the financial sector， deepening theneed to further improve the market system， which includes all aspects of improving andperfecting the market system， at the same time also further improving the state ofthe socialist market economy and establishing the comprehensive andeffective regulatory system， and tax policy system is an important aspect of this work.This paper is based on this background， and the article raises the theory according tothe specification analysis， comparative analysis of scientific research methods in theeconomic field，the integrated use of Taxation，finance，economics and other disciplinestheory， the paper starts from the domestic and foreign experts and scholars researchresults on capital gains and capital gains tax in theory，combing the current mature，tworepresentatives theory includes the concepts of net increment of capitalgains: Fritz Newmark represents sources of income view and Van Sant， Hagrid andSimmons represents net added value theory; in addition， the former thoery teases outthe representative arguments gain tax effect of the current on imposition of capitalgains tax view. Secondly， the basic theoretical issues focus on the capital gains tax， onthe one hand， from the angle of economic effects of capital gains tax， mainly onthe "income effect" and "substitution effect" from the angle of social investment andsavings， and especially emphasizes the "lock in effect"， in order to provide a theoreticalbasis for the design of the system. Secondly， by using the comparative analysis methodto study America， Japan， HongKong involved securities market， capitalgains tax provisions of the legal system， in order to draw for the introduction of capitalgains in China’s securities market tax service conclusion. Finally， combined with theactual situation in our country currently， try to suggest to adopt capital gains tax in ourcountry the specific system design.Research study found from the general law of development of the securitiesmarket，the scientific and reasonable collection of securities market capital gains tax is an inevitable choice to guarantee the healthy and orderly development of our securitiesmarket， a reliable guarantee is to promote the smooth development of socialist marketeconomy， it is necessary to maintain the financial sector more harmonious.