투자․상생협력촉진세제의 효과성 평가：소득환류효과를 중심으로

[Purpose]The purpose of this study is to provide reasonable evidences for the existence of the investment and win－win cooperation promotion tax system through an empirical analysis. [Methodology]Using DID(difference in difference), this study makes an empirical analysis on the actual income return effect of firms applying the corporate return income tax system and the investment and win－win cooperation promotion tax system. [Findings]After the application of the corporate return income tax system and the investment and win－win cooperation promotion tax system, corporate investment shrinks and has no significant influence on wage increase. Moreover, this system only has the effect of increasing tax revenue rather than incentives for the return of retained income, and has insufficient effectiveness in revitalizing corporate investment and increasing wages. Excessive tax burden hinders the creation of business environment for firms. Therefore, it is considered desirable to abolosh the current investment and win－win cooperation promotion tax system. [Implications]This study provides policy implications to the industry and academia by evaluating the effectiveness of the current investment and win－win cooperation promotion tax system.