[Title Page]
Summary and Policy Implications
Contents
I. Introduction 8
II. Characteristics of the Income Tax System and Tax Burden Gap by Income Type 11
1. Characteristics of the Tax System by Income Type 12
A. Labor Income 12
B. Capital Income 18
C. Corporate Income 20
2. Differences in Tax Burdens by Income Type 22
III. Models 31
IV. Data 34
V. Results 36
VI. Conclusion 42
References 43
〈Table II-1〉 Income Deduction of Global Income and Wage Income 13
〈Table II-2〉 Trend of Wage Income Deduction 14
〈Table II-3〉 Tax Credits by Income Type 16
〈Table II-4〉 Wage Income Tax Credit 17
〈Table II-5〉 Rates of Social Security Contributions for Wage Income(2013) 18
〈Table II-6〉 Financial Income and Global income Taxation 20
〈Table II-7〉 Tax Burden Distribution of Corporations by Assets(based on 2011 filing) 22
〈Table II-8〉 Top Tax Rates for Personal Income and Corporate Income 27
〈Table IV-1〉 Changes in Corporate Tax rate and Personal Income Tax Rate during the Analysis Periode 35
〈Table IV-2〉 Descriptive Statistics of Data 35
〈Table V-1〉 Effect of Tax Rate Gap on ROA(REML) 37
〈Table V-2〉 Effect of the Tax Rate Gap on Level of Assets(REML) 40
[Figure II-1] Effective Tax Rate by Income Types/Income Level 25
[Figure II-2] Revenues of Personal Income Tax and Corporate Income Tax 28
[Figure II-3] Proportion of Non-corporate Operating Surplus and the Gap between... 30