개정 기업인수·합병 세제에 관한 문제 (A Problem of the Revised Taxation of Mergers and Acquisitions)

서지정보

· 발행기관 : 연세대학교 법학연구원
· 수록지 정보 : 법학연구 / 23권 / 3호 / 65 ~ 109페이지
· 저자명 : 이건국, 정래용

초록

본 논문은 기업조직재편을 효율적으로 지원하면서 조세회피는 엄격히 규제하여 효율과 공평의 원칙에 부합하는 세제를 목표로 하여 문제점 및 개선방안을 아래와 같이 도출하였다.
첫째, 회사전환 및 외국법인과의 삼각합병을 통해 조세회피 및 과세권의상실 가능성이 있으므로 조세조약상 유가증권 양도차익에 대해 거주지국 과세원칙을 적용받는 저세율국가에 소재하는 외국법인이 피합병법인의 주주인경우와 비거주자 또는 외국법인이 피합병법인의 주주이면서 외국모회사의주식을 합병대가로 교부받는 삼각합병의 경우에는 주주에 대한 과세이연특례를 적용하지 않고 합병 시점에서 과세해야 한다.
둘째, 자산의 포괄적 양도 및 주식의 포괄적 교환·이전의 자산조정계정계상 시 법인세법상 규정을 그대로 준용하다 보니, 실현된 양도차익에 대해이중과세되는 문제점이 발생하여 공평과세 원칙에 위배된다. 자산의 포괄적양도의 경우 자산조정계정은 실현된 양도차익 부분을 제외한 금액으로 계상하고, 주식의 포괄적 교환·이전의 경우 물적분할·현물출자의 개정된 제도를 반영하여 새롭게 개선이 필요하다.
셋째, 우회상장을 통한 조직재편은 경제적 실체의 동일성을 인정하기 어려운 경우가 많으므로 현행 제도상 과세이연 혜택이 남용되고 있어 실질과세 원칙에 위배된다. 따라서 경제적 실질을 고려하여 합병법인이 기존에 보유하던 사업에 사업계속성 요건을 도입하고 지배주주에 대한 지분계속성 사후관리기준을 강화해야 한다.
넷째, 현행 조직재편 세제에서는 합병기준일에 따라 전체 과세이연요건의기간이 달라지므로 형평성에 어긋나는 문제가 발생한다. 현행 세법에서 규정된 사후관리기간을 "합병등기일이 속하는 사업연도의 다음 사업연도의 개시일부터 합병등기일에서 3년이 경과한 날까지의 기간"으로 개정하여 전체과세이연요건 기간을 동일하게 규정해야 한다.
다섯째, 합병차익의 자본전입에 따른 의제배당 과세는 자산의 포괄적 양도에도 합병차익과 같은 세법상 '자산의 포괄양도차익' 개념을 신설하여 자본전입 시 의제배당과세 제도 도입이 필요하다.

영어초록

Korean taxation of Mergers and Acquisitions was reformed to support corporate restructuring effectively in 2010. However, the wide system of tax-free reorganization has been attended by several problems. For example,it has some provisions which are against tax neutrality and the principle of equity of taxation. It is also weak for tax avoidance through various reorganization transactions. Therefore, this study demonstrates the improvements of the taxation of M&A as below based on the principle of efficiency and equity to support corporate reorganizations efficiently and regulate tax avoidance strictly.
First, there is a possibility of tax avoidance by corporate inversions. Thus,when the stockholder of target corporations is a foreign company located in a tax haven which adopts the residence principle for income accruing from transfer of securities based on tax treaty, it needs to be taxed without the benefit of the tax deferral despite qualified mergers. Also, the loss of the right of the taxation can be occurred in the triangular merger case that the stockholders of target corporations are non-residents or foreign companies and the parent companies of acquiring corporations are foreign companies.
Therefore, it is asked that the benefit of the tax deferral should not be adopted for the stockholders in that case.
Second, there is the problem of double taxation in appropriating asset adjustment accounts for the all-inclusive transfer of assets and the all-inclusive exchange and transfer of stocks, because the provision of asset adjustment accounts has been applied correspondingly from corporate tax act. It is contrary to the principle of equity of taxation. Therefore, in the case of the all-inclusive transfer of asset, the amount of asset adjustment account needs to be appropriated except for the amount of realized transfer marginal profits. In the case of the all-inclusive exchange and transfer of stocks, the reformed system of spin-off and investment in kind on corporate tax act needs to be applied in order for avoiding double taxation.
Third, the continuity of economic substance has not been maintained in most reorganizations through backdoor listings. It leads to abuse of tax-free benefits, which also does not conform with the principle of substantial taxation. Thus, it is needed to apply the COBE requirements for acquiring corporations' businesses and reinforce the COI requirements for majority stockholders of target corporations.
Fourth, the total period, when corporations are monitored whether they are qualified for tax-free requirements, is flexible. The reason is that the period from the registration to the beginning of the post control is variable based on the registration date. Because it cause the problem of the principle of equity, it is asked that the post control should be finished at the date after 3 years from the registration date to fix the total period for tax-free requirements.
Fifth, the current taxation of deemed dividends caused from the transfer of marginal profits accruing from mergers into capital has some problems. it is not regulated in the taxation of the all-inclusive transfer of assets. Therefore,it is needed to supplement the taxation of deemed dividends caused from the transfer of marginal profits accruing from the all-inclusive transfer of assets into capital.
It is thought that abovementioned improvements will help the taxation to secure reasonability and neutrality and to revitalize corporate reorganization.

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