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Bond Exchange Of South Africa Designated As Recognised Stock Exchange By HMRC

by Amanda Banks, for LawAndTax-News.com

18 April 2008


With effect from 16th April, 2008 HM Revenue & Customs (HMRC) has designated the Bond Exchange of South Africa (BESA) as a recognised stock exchange.

Products listed on the BESA will meet the HMRC interpretation of listed as set out in section 1005 (3) (a) and (3) (b) Income Tax Act 2007 as amended by Schedule 26 to the Finance Act 2007.

However, products traded Over the Counter (OTC) on BESA will not meet the HMRC definition of listed.

With effect from 16th April, 2008 BESA will also be regarded as a recognised stock exchange for Inheritance Tax purposes, HMRC announced.


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