完善我国证券交易印花税制度的思考

发布时间：2018-07-03 08:10

本文选题：证券市场 + 证券交易印花税　；参考：《华东政法大学》2014年硕士论文

【摘要】：证券交易印花税在中国从产生伊始就具备经济转型过程当中的浓郁色彩。一开始证券交易印花税的产生，就是依据其他税种的法规实行，并且证券交易印花税税率的高低也只是由政府部门单方面依据市场低迷或狂热的主观猜测来调整，使得证券交易印花税的法律依据不足，屡屡为人们所诟病。媒体上不断出现讨论关于调高、降低或者维持、取消证券交易印花税的声音，国内外学者对于证券交易印花税的褒贬争议更是不绝于耳。国内外一些研究者认为，调高证券交易印花税,必然会使买卖成本升高进而波及到股票的流动性，增添大盘收益和噪声交易在股市上的波动；也有的研究者认为相反。由于各国的情况不尽相同，所以国内外研究的结果并不一致。根据市场冷热情况适时调整证券交易印花税税率已成为我国政府对证券市场进行宏观调控的最重要的一项政策工具。到目前为止，我国的证券交易印花税率调整前前后后已有多次，但由于该政策力度难以把握，总是达不到预期效果，要么是效果调控不到位要么是矫枉过正。不可否认，以证券交易印花税为核心的证券税制这些年来在聚集政府财政收益和宏观调节证券市场两个方面起到了不可或缺的作用。然则简单缺乏弹性的证券税制，伴着中国证券市场的迅猛成长以及范围的日益扩大，很多问题已经逐步暴露并且随着时间的推移是越来越多。为保证本国股市的健康平稳长期发展，如何根据我国的实际情况正确制定和革新完善本国的证券交易印花税制度，成为众多股民的心愿，也成为对我们政府和股市管理层智慧的一种考验。从世界各主要证券市场的实际成长经验能够看出，国际金融市场税制变革的整体趋向最终是取缔或降低证券印花税。世界各国印花税的变革方向是降低印花税率，对中国证券交易印花税的改革自然是必然趋势。为不断完善和优化我国特色的社会主义证券市场体系，我们也有必要学习借鉴国际主流证券市场上的成功经验。此举对于及时防范和有效化解金融风险、支持和促进我国证券市场的健康平稳长远发展有着积极的现实意义。本文主要分为五个部分。第一部分绪论，，主要从选题背景出发引出证券交易印花税的研究意义，并在参考大量文献资料的基础上，对已有的研究成果作了下简要概述。第二部分首先扼要说明了印花税的内涵，接着立足于证券交易印花税的相关理论，介绍了证券交易印花税的含义、征税根据等。继而介绍了中国证券交易印花税的孕育、发展变化和我国证券税制的近况。第三部分分析了历年的印花税税率的调整对我国股市产生的实际影响，并且介绍了中央地方分享比例的博弈变化和演变过程，同时,揭示了中国目前现行证券交易印花税制度各种不合理的地方。第四部分通过分析境外部分国家的证券交易体制，以期从境外部分国家的成功经验中得出启示。第五部分针对中国的实际情况对中国的证券交易印花税的变革方向提出了一些浅陋的政策建议。由于经济学和金融学知识薄弱，也难以把握我国证券市场实践中复杂的现实情况，本文缺乏实证研究和支撑，敬请各位老师批评指正。
[Abstract]:The stamp duty of securities trading has a strong color in the process of economic transformation from the beginning of China. In the beginning, the production of stamp tax on securities trading was carried out according to the regulations of other taxes, and the tax rate of the stamp tax on the securities transaction was only adjusted by the government department unilaterally according to the market downturn or the fanatical subjective speculation. As a result, the legal basis for the stamp tax on securities trading is insufficient, and it has repeatedly been criticized by people. The media has been constantly discussing the voice of raising, reducing or maintaining the stamp tax on securities trading, and the controversy over the stamp tax on securities trading is more and more disputed by scholars both at home and abroad.
Some researchers at home and abroad believe that the increase of the stamp tax on securities trading will inevitably increase the cost of buying and selling and then spread to the liquidity of the stock, and increase the volatility of the large stock returns and the noise trading on the stock market.
It has become the most important policy tool to adjust the stamp duty rate of securities transaction according to the situation of market cold and heat, which has been the most important policy tool for our government to control the securities market. It is undeniable that the securities tax system, which is the core of the securities transaction stamp tax, has played an indispensable role in the two aspects of the accumulation of government financial revenue and macro regulation of the securities market these years. As well as the expansion of the scope, many problems have been gradually exposed and more and more time goes by. In order to ensure the healthy and stable long-term development of the domestic stock market, how to formulate and innovate and perfect the stamp tax system of securities trading in our country according to the actual situation of our country has become the wish of many investors and also to our government. And a test of the wisdom of the stock market management.
From the actual growth experience of the world's major securities markets, it can be seen that the overall trend of the tax reform in the international financial market is ultimately to ban or reduce the stamp tax. The changing direction of the stamp tax in the world is to reduce the stamp tax rate, and the reform of the stamp tax on China's securities trading is the inevitable trend. It is also necessary for us to learn from the successful experience in the international mainstream securities market, which has a positive meaning for the timely prevention and effective defuse of financial risks, and to support and promote the healthy and stable long-term development of the securities market in China.
This article is divided into five parts. The first part of the introduction, mainly from the background of the topic selection, the significance of the research on Stamp Tax on securities trading, and a brief overview of the existing research results based on the reference of a large number of documents. The second part first briefly describes the connotation of stamp tax, and then is based on the stamp duty of securities trading. It introduces the meaning of stamp tax on securities trading and the basis of taxation. Then it introduces the breeding of stamp tax in China's securities trading, the development and changes and the recent situation of China's securities tax system. The third part analyses the actual impact of the adjustment of stamp tax rate on the stock market of our country in the past years, and introduces the proportion of the central local share. The game change and evolution process, at the same time, reveals the current China's current securities trading stamp tax system of various unreasonable places. The fourth part through the analysis of foreign countries' securities trading system, in order to draw inspiration from the successful experience of some foreign countries. The fifth branch of China's actual situation to China's securities exchange in China. The change direction of the easy stamp tax has put forward some humble policy suggestions. Because of the weak knowledge of economics and finance, it is difficult to grasp the complicated reality in the practice of China's securities market. This paper lacks empirical research and support, and asks the teachers to criticize them.
【学位授予单位】：华东政法大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：D922.287;D922.22

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