|
US$70-80 million
The National Tax Service (NTS) said Tuesday it will after all tax foreign exchange gains from futures exchange contracts of yen swap deposit accounts sold between 2003 and 2004,moncler.
Yen swap deposit accounts are a financial product that allows customers to deposit money in yen and withdraw the principal and interest in won once it matures,moncler. They became hugely popular since banks said they were tax-free,abercrombie france.
But an NTS official said analysis of yen swap deposit account transaction records showed 90 percent were transacted in an integrated form as deposit accounts and futures contracts,www.doudounemonclerpascher5fr.com. Authorities will slap taxes on all foreign exchange deposit accounts of this kind,jordan pas cher, the official said,doudoune moncler.
That spells bad news for investors who deposited their money in yen swap accounts after 2003,abercrombie, the year they first appeared,doudoune moncler pas cher, who will now have to pay 16,www.monclersoldespaschers.com.5 percent tax on their foreign exchange gains,air jordan.
The NTS plans to tax foreign exchange proceeds by the end of this month when taxpayers submit their income tax forms,doudoune moncler. Financial sources estimate the volume of the taxation at W70-80 billion (US$70-80 million),abercrombie and fitch.
Related articles:
But Germany's U.N. representative Gunter Pleuger
October 26
Cao Guihua is company of Xuzhou power supply in the construction site of Party A's representative, he was responsible for the six counties in Xuzhou City area new construction and expansion of 220000 volts or more high voltage substation construction engineering quality supervision work. |
|