K－IFRS 도입이 보증회사의 대위변제와 책임준비금의 세무처리에 미치는 영향－D기업의 회계.세무를 중심으로－

The K－GAAP, before adopting K－IFRS, allowed insurance companies generally to recognize the current expenses in the period when the payout was paid to the insureds(injured) party, and to recognize the current revenues in the period when the companies received proceeds of the right to indemnity from the injuring party. Also, tax law is the same of K－GAAP. However, K－IFRS regulates guarantee revenues and expenses of Korea Housing Guarantee Corporation(hereinafter “KHGC”) only. In short, though other insurance corporation can establish the allowance for bad debt against the subrogation receivables, KHGC cannot be allowed to recognize that allowance.
Thus, tax burden of KHGC is heavier than other insurance corporation.
And banking and insurance corporation may reserve generally fund as legal reserve in order to prepare larger subrogation. On the other hand, KHGC can’t establish the legal reserve fund as deductible in the process of calculate it’ taxable income. Also this differential taxation causes the unequality between KHGS and other corporations.
In the study, the appropriateness of the corporate taxation of allowance for bad debts is examined based upon the following two perspectives. First, KHGS is required to establish the allowance for bad debts against the subrogation receivables. So, corporate taxation law should be amended. Second, it is required to allow for KHGS to reserve the legal reserve fund as like other insurance corporations in order to maintain the equality of taxation.
This study is to discuss potential issues and solutions which may arise for K－IFRS adoption and also is of great significance in proposing improvement on the equality of taxation of insurance business.