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合理完善的证券税制体系可以抑制过度投机行为、降低市场波动性的同时提高市场配置资金的效率,从而对于证券市场规范健康发展起着不可忽视的作用。一般而言,一国证券市场越成熟,其证券税收制度就越完善,对证券市场发展的贡献度也就越高。中国证券市场起步较晚,属于新兴市场。其规模较小、相关的法律和制度还很不健全、并具有极强的投机性,市场波动性很大。利用有效的税收制度对投资者进行引导是降低市场波动性可供选择的方法之一。而在我国证券市场中,现行的证券税收制度陈旧落后,在一定程度上制约了其发展。
A sound securities tax system can restrain excessive speculation, reduce market volatility and increase the efficiency of market allocation funds, thus playing a non-negligible role in regulating the healthy development of the securities market. Generally speaking, the more mature a securities market in a country, the more perfect its securities taxation system and the higher its contribution to the development of the securities market. China’s securities market started late, belonging to emerging markets. Its small size, the relevant laws and institutions are still not perfect, and has a strong speculative, the market volatility. Using an effective tax system to guide investors is one way to reduce market volatility. In China’s securities market, the current securities tax system is outdated, to a certain extent, restricted its development.