The head of the Korean Financial Services Commission, Jun Kwang-woo last week announced the regulator's opposition to proposals to introduce a tax on derivatives transactions.
The Korea Institute of Public Finance made the suggestion to implement the tax in a recent report, arguing that such a levy on would discourage "excessive" speculation and increase revenue.
The FSC is expected to oppose such a tax, on the grounds that it could stifle market activity in this area completely.
Separately, the regulator is set to discuss the continuation of a tax exemption on stock transactions undertaken via funds, Jun revealed.
He was quoted by the Korea Times as confirming last week that:
"We will discuss issues concerning taxation on stock transactions with the ministry and introduce the best possible tax measures that positively fit and benefit the functions of the Seoul stock market."
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment