簡介： TAIEX 是什麼？「一張」等於多少股？「上市」、「上櫃」、「興櫃」英語怎
麼說？
The Lowdownh on the
The beginning of 2013 marked the
imposition of the securities gains tax, which
fomented heated debate in Taiwan last year.
The levy is categorized under capital gains tax.
It comes on top of the existing transaction fee on
the buying and selling of shares, and the security
transaction tax on the disposing of stocks on
the Taiwan Stock Exchange. The issue has
been broached several times over the last 20
years, but has proved so sensitive that it led to
the resignation of two finance ministers. As the
debate rages on, we examine the rationaleh
behind the tax, as well as its possible impact.
Although the tax burden in Taiwan is
relatively low compared to nations of similar
development, wage earners contribute
a disproportionate percentage of the
comprehensive income tax portfolio. These
paycheck earners do not have as many tax
breaks as investors with big capital gains.
With the equality gap widening, public outcry
against the tax reforms is gaining momentum.
The government's stated aim is to achieve
social justice while increasing tax revenues
by adopting “ability to pay” and “impartial
taxation” principles.
Responding to objections to the new
tax, officials claim retail investors are not
adequately informed of the issues. The
belief that the tax is an attempt to deter
speculative activities, and a knee-jerk
response by a government desperate to
expand revenue sources, is mistaken, it is
argued. Investors are still concerned about a
repeat of the market crash which took place
when the tax was last levied in 1989. However,
proponents of the tax point out that it is no
different from the luxury tax introduced in
2011. In both cases, the principle of ability to
pay is being adopted in the hope that citizens
are taxed according to their net worth.
證所稅之徵？之爭？
去年在台灣掀起火熱爭議的證所稅，終於在今年一月開
徵。這項稅別歸類在資本得利稅之下。證所稅加徵於既有的股
票交易手續費，以及在台灣證交所賣出股票時課徵的證交稅之
上。這個議題在過去廿年來被數度討論，但因太過敏感而讓兩
名財政部長為此辭職。議論喧囂的當下，我們要來檢驗證所稅
背後的基本理由及其可能的衝擊。
雖然台灣的稅收負擔比起發展程度相似的國家相對較
低，但受薪階級卻貢獻了不符比例的綜合所得稅。這些受薪
階級不像有大筆資本收益的投資者能享有許多稅務優惠。隨
著貧富差距擴大，大眾對於稅務改革的吶喊愈來愈強烈。政
府所聲明的宗旨是採用「量能課稅」與「賦稅公平」的原則
來達到社會正義，同時增加稅收。
回應反對新稅制聲浪的官員們認為散戶們對此議題並沒
有充分認識。爭論點在於：證所稅是企圖抑制市場投機交易
與政府急欲擴充財源的衝動反應，而這兩個想法是錯誤的。
投資者仍擔心市場會如上次證所稅於一九八九開徵時般再度
崩盤。然而，贊成者指出證所稅與二O一一年開徵的奢侈稅
並無不同。這兩個情況都是採用「量能課稅」的原則，希望
公民都能依個人淨資產被課稅。
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