股指期货所得课税规则的构建

股指期货交易是以股票价格指数为基础资产的标准化期货合约。交易中双方当事人取得的收益和支付的费用将改变交易双方当事人的消费能力和投资水平,从而产生相应的税收后果,应当认定为应税所得。股指期货交易应当是以风险管理权为标的的买卖合约,其收益应当认定为财产转让所得。但由于当前财产转让所得的概念尚不能涵盖风险管理权这一新型财产性权利的转让收益,应有必要构建新的课税规则以确定不同交易目的的股指期货交易的纳税义务及其课税时点等问题。

Income Tax Rules on Stock Index Futures

Stock index future is one of standard future contract with the stock price index as the underlying asset.The income earned and expenditures paid by the parties in the transaction should change the ability of consumption and the level of investment of the parties.Therefore,the profit from stock index future should be determined as taxable income.However,the concept of Property transferred income cannot include the earning for the transfer of the right of the risk management which is an innovative property ri...