A Study On The Taxation Of China 's Securities

Facing the new economic norm, big data and cloud storage so that a new era of Internet banking, capital market is constantly changing, the securities trading of securities products change rapidly form, nature is also increasing, which affects every hour and moment policymakers nervous. In addition, the global economic integration intensifies the fierce competition between financial markets in the major economies of the world, this is the inevitable result of the development of global economic integration and deepening of the. Many developed countries and regions in order to improve the international competitiveness of the securities market and reduce the transaction costs, at the expense of a small part of the revenue, have to cancel the stamp duty on securities transactions, in order to stimulate trade, attract more high-quality investors into the country for the purpose of investment. Looking at the world, now the international financial sector competitiveness although increasingly fierce, but the entire international securities market is still in a tense atmosphere, is not that optimistic, this requires that we should calm thinking, consider the situation, careful study and grasp the current situation of China’s securities market and the law of development and the domestic and international financial environment, to develop and implement good policies, so as to maintain the smooth operation of the securities market. A sound system of the securities and exchange link of taxation is helpful to promote the development of the securities market and the securities and exchange link of our country tax system has many shortcomings, it is necessary for us to learn from developed countries, and continuously research and perfect the tax system in the securities market, securities market so that the long-term, healthy, normal and stable development.Firstly, from securities trading links taxation theory, a detailed analysis of the 26 years since the previous adjustment securities transaction stamp tax reasons, the effect of the regulation, and the present situation of the securities trading process of assessment points out the existing problems. Secondly, in order to more vivid, more direct verification of its regulatory effect, the article selected three typical securities transaction stamp tax adjustment event, the use of empirical analysis to analyze their impact on the stock market liquidity and volatility and draw conclusions. Finally, on the basis of comparative reference to foreign countries and regions on the main securities market of the taxation system, to improve the taxation system of securities trading link for the current situation of the proposed recommendations.The body of the paper is divided into six chapters:The first chapter introduction, mainly to clarify the background and significance of this for the Review of the literature at home and abroad, and summarizes the research ideas,research methods and the main innovations and shortcomings.Theoretical aspects of taxation chapter SEC analysis, this part focuses on the taxation aspects of securities trading theory. In addition, the collection describes the economic effects and the cost of securities trading links taxation.Chapter III of the Securities and Exchange Situation and taxation aspects of the problem, stating the current taxation aspects of securities trading is kind of a state,combing the stamp duty on securities transactions 26 years since the reform process and the reason of its adjustment, the effect of regulation, and then points out the existing problems and issues multidimensional analysis.Chapter IV Empirical Analysis of securities transaction stamp tax effect adjustment to three times between 2007 and 2008 to adjust the stamp duty for the study, examined the impact of the liquidity adjustment securities transaction stamp duty on China’s stock market and the volatility and draw Empirical analysis Conclusion.Chapter V stock market tax system and the major countries of the region and the Enlightenment, mainly to the United States, Germany, Japan and Hong Kong of China securities market specific tax policies and concrete measures were compared, respectively, from the securities transaction tax, investment income tax and capital gains tax perspective exhaustively analyzed and summarized, and derive a number of enlightenment.Chapter VI proposed to improve the taxation aspects of securities trading system in our country, drawing on a number of developed countries and regions on the basis of the taxation system, to improve the taxation system of securities trading segment made recommendations.