The Study on Generation Skipping Tax
Asian Tax Journal Vol. 12 No. 3 (2011), pp. 105-128
Abstract
In this article the author reviewed the current Generation Skipping Tax(GST) of Korea and its relevant tax of several countries. And the author tried to find a way to improve problems. The crruent GST has the following problems in respect of the system itself, the legislative purpose, the principle of equity, the social politics. As a result of research, the author are proposing the following improvements. First, because the Inheritance tax adoped estate tax type, GST is inconsistent in itself. The GST has validity when the Inheritance tax adoped the inheritance tax type, provided GST should be alleviate under the domestic conditions. Second, in repect of the legislative purpose, GST did not prevent Tax Avoidance is a Problem that happen in any times. So, It is proper that GST should be alleviate. Third, in repect of equity on different system, tax system associated with family business succession and short－term re－succession, GST is not perfect. Because GST is equal two system in terms of substance and purpose, GST should be alleviate an essential condition. Fourth, owing to an aging society and globalization of economy, the problem related GST will be on the increase. Based on this reason, GST needs strategic improvements of alleviation.
Keywords
- Generation Skipping Tax
- Inheritance Tax
- Estate Tax Type
- Equity of Tax
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