Research On The Construction Of Securities Taxation In China

The year of 2015 is a beginning of new round taxation reform. After nearly 30 years of development, our country’s securities tax system construction has made great achievements. The securities taxation of our country is mainly based on securities stamp tax. Business tax, personal income tax, enterprise income tax is also playing an important role in securities taxation. However, compared with the securities taxation of western developed countries, our country’s securities taxation still has many aspects need to be improved. This article focuses on the imperfection of our country’s securities taxation. At the conclusion, some specific suggestions on the construction of securities taxation are given under the status in quo.At the beginning of article, the definition of securities taxation is given. Usually taxation on securities is set in four segments that is stamp tax on the issuance of securities, securities transaction tax on the dealing of securities, capital gain tax on the difference of trading price, income tax on interest, dividends, bonus, and inheritance tax on the inheritance of security properties. Based on the theory of securities taxation, the goal and principle of building our securities taxation is introduced. The pursuit of fairness and efficiency is eternal for each government.The status and the imperfection of our country’s securities taxation are given in the next part. We can see that the function of stamp tax is dislocated; tax rate is simple; evasion on the transfer of restricted stock is common, double tax on dividends and bonus. Considering the tax rate is very important in the construction of our country’s securities taxation, this article makes an analysis of tax burden on the securities market and points that low tax burden is necessary for securities taxation. In order to get some experience for reference, analysis of securities taxation in developed countries is necessary. The final part is about specific suggestions on the construction of our securities taxation. Some suggestions like readjust stamp tax, eliminate double tax on dividends and bonus, levy capital gain tax cautiously.