世界各地現行實施證所稅機制，可分類比較為主要採行三項證所稅機制（合併課稅、分離課稅、對專業投資人課稅）。一為採合併計入綜合所得稅制，以美國及英國地區為主，目前中國大陸及臺灣地區也適用此種方式；二為對個人部分，實行分離課稅如日本及韓國地區；三為原則上對個人及企業免稅，僅針對符合專業投資人定義之個人或企業課稅為主者，如香港及新加坡地區。針對台灣地區於2013年起實施之證所稅制度內容，本文提出下列四項結論建議：結論一、就課稅角度，建議以「輕稅簡徵」為原則，凡涉有交易數量頻繁的所得，建議實行分離課稅，就源扣繳的方式處理。結論二、就量能課稅與有所得就要課稅原則的角度，台灣本次證所稅對以投資為專業的外國投資機構給予免稅優惠，反倒針對投資績效較不明確的個人及本土性一般營利公司來課徵，似不符合量能課稅原則與有所得就要課稅的原則，並可能進一步增加人頭戶及假外資的設立動機。結論三、由台灣資本市場整體稅負結構分析，台灣股票市場課稅制度過於繁複，股票投資人與非股票投資人稅負不平等，投資人從參與股票投資之初級發行面、次級流通交易面及持有期間與處分時點，實際承擔過重稅負及費用，似不甚符合租稅公平主義原則。結論四、配合台灣現行整體經濟條件及股市發展環境，可朝建構區域金融中心角度思考，建議「參照臨近市場如香港及新加坡地區證所稅機制，優先針對具營業活動行為之專業投資個人及法人課稅」，似較符合量能課稅之精神。同時為兼顧稅負公平性，可參照臨近股市之策略，開徵證所稅下，並輔以較低之證交稅，以降低及平衡整體股票市場之稅負結構，提升發展金融中心之競爭力。

The current capital gain taxation for securities could be distinguished into three main categories (Joint taxation, separation taxation, taxation to professional investors only). The first joint taxation system is mainly adapted by USA, UK, mainland China and Taiwan. The second separation taxation system is mainly adapted by Japan and Korea. The third taxation to professional investors only system is mainly adapted by Hong Kong and Singapore, which allows tax free to non-professional private and company investors and focus on professional private and company investors taxation. Conclusion 1: From the taxation aspect this study recommend a simplify taxation principle. Income involved with complex trading volume is recommended to adapt separation taxation from the source of income. Conclusion 2: From volume taxation and income taxation aspect this study found the capital gain tax in Taiwan which allows Foreign Institutional Investors (FINI) tax free and focus on private and local company taxation is not consistent with volume taxation and income taxation principle and may cause motivation of establish dummy account and fake FINI. Conclusion 3: From overall capital market taxation structure analysis that Taiwanese stock market taxation system is too complex and being unfair between stock investors and non-stock investors. Investors involving in primary IPO, secondary trading, holding and selling stages are suffering over taxation and cost which is inconsistent with taxation fairness principle. Conclusion 4: According to the Taiwan economic condition and stock developing status this study recommend a thinking of regional financial center aspect and propose ＂take nearby markets such as Hong Kong and Singapore taxation system as a reference and mainly focus on taxing professional investors and company＂ would be more consistent with volume taxation principle. At the same time in order to consist with taxation fairness this study recommends to take nearby market strategy to reduce stock trading taxation while adapting capital gain taxation. This will help to balance overall stock market taxation structure and assist the competitive of financial center development.