Research On The Optimization Of China's Securities Tax System

Securities tax system as a basic mean for control the securities market, which has a profound influence on the securities market. Besides organization of financial income, the securities tax system playing an irreplaceable role in fairing the tax burden, encouraging the correct concept of investment, curbing the excessive speculation, reducing the market volatility, increasing the efficiency of allocation of funds in the market and regulating the securities market development.Comparing with the rapid development of the socio-economic and securities market, China's current building in the securities tax system is relatively backward, not conducive to the further development of China's securities market. Optimization of the securities tax system is a major issue of China's tax system and economic reform.For the complexity of the study, the paper comprehensive using of the analytical tools of tax system optimization theory, financial market theory and behavioral economics, and using the research methods of standardized research and empirical study combination, qualitative analysis and quantitative analysis combination, domestic and international comparative analysis combination. First, the paper making an analysis on the western tax system optimization theory and the mechanism of securities tax system, clearing the value orientation of tax system optimization theory in the specific research of securities tax system optimization, making an analysis on the basic characteristics of the securities tax system running and the measurement standards of the securities tax system optimization. Second, giving an analysis for the current situation of the securities tax system, which with the main shortage as follows: The overall structure is not faulty, taxation is not comprehensive, single approach to market regulation; As the core of the current securities tax system, the burden of the securities transactions tax too heavy, control ineffective; The dividend tax, resulting duplication taxation on the revenues which come from the same source, damaged the efficiency of the allocation of resources and exacerbated the unfair of tax burden; Tax securities investment incomes but not stock exchange incomes, forcing investors paid more attention to benefit from the sale and ignored the low investment incomes, which inspired win the post of speculation. Third, after the international comparison and in-depth analysis the failure of the Taiwan area in capital gains tax, we sum up the experience and lessons. Finally, taking into account China's national conditions,we believe that China's securities tax system not only need to optimize the overall structure on the settings,but also need to optimize the design for the specific types of taxes. The paper gives the design for optimization of tax system.