Study on Taxation of Public Allowances and Benefits with Business Entity Approach

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The aim of this study is to examine the present Japanese systems of public and private allowance and benefits and the tax systems on such payments, with business entity taxation approach. Public and private allowances and benefits include, for example, public survivors' pension annuities, life insurance proceeds, estates, and damage awards. Most of such payments are tax-exempt, but the people who hold higher income and wealth receive more tax-exempt benefits, it seems the reverse income and wealth redistribution from poor to rich (like so-called Matthew effect).Therefore, it is necessary to provide public allowances based on the information including any other tax-exempt payments and wealth, or if possible, to tax persons who receives certain amount of tax-exempt payments.