有效限界稅率의 推移와 變動要因

The Trend in the Effective Tax Rates and Their Determinants: 1983-1995 in Korea

This paper measures the effective tax rates and analyzes their determinants by estimating the tax and the financial variables in 1983-1995. The results show the time-varying trend in the effective tax rates, which is due to the changes in the financial variables rather than in the tax variables. In addition, the followings are the important results from observation. First, the tax burden occurs not at the corporate level but mainly at the personal level. Second, the rise in the effective tax rates is significant in the late 80’s. Third, the effective tax rates on the equipment investments begin to outgo those on the structure investments since the late 80’s. The difference in the effective tax rates on the different assets, which can result in the negative effect on the corporate investment, is explained by the effect of the inflation. We conclude that the tax rates have not been improved to adjust for the changes in the economic environments.