Synopses & Reviews
This practical book is written by an internationally renowned expert, who guides the reader through the pitfalls, explaining clearly and concisely the foreign exchange consequences of trading transactions, how to cover longer-term exposures, the tax treatment of interest, the problems caused by the rapidly developing financial instruments which outplace tax legislation and the opportunities to be exploited. The United Kingdom, the United States and Canada are given special coverage highlighting their tax issues as are individual countries from continental Europe, Australasia and the Far East.
Tax Efficient Foreign Exchange Management will be invaluable reading for all finance directors, treasurers, corporate planners, bankers, accountants, tax practitioners, lawyers and anyone concerned with managing foreign exchange transactions tax efficiently.
Synopsis
This practical book is written by an internationally renowned expert who guides the reader through the pitfalls encountered in managing foreign exchange transactions tax efficiently. Featured are: foreign exchange consequences of trading transactions, tax planning opportunities, how to cover longer-term exposure, the tax treatment of interest, foreign exchange gains and losses, modern financial instruments, witholding tax on interest, principal tax traps to avoid, and individual country analysis. The United States and Canada are given special coverage, highlighting their tax issues, as are individual countries from continental Europe, Australia, and the Far East.
Synopsis
Chown addresses the many complexities and pitfalls encountered in managing foreign exchange transactions tax efficiently. Written by an internationally renowned expert, this is essential reading for finance directors, treasures, corporate planners, bankers, accountants, tax practitioners, and lawyers.
Description
Includes bibliographical references (p. [267]-271) and index.
About the Author
JOHN F. CHOWN is the founder of JF Chown &Co., Ltd. and is also a Director of Fixed Income Research and Management, Ltd.
Table of Contents
Preface
Managing Foreign Exchange Taxation
The Problem Stated
The Foreign Exchange Consequences of Trading Transactions
The Economics of Exchange Risk
Covering Longer-term Exposures
Implicit Forward Exchange Rates
The Tax Treatment of Interest
Withholding Tax on Interest
Modern Financial Instruments
The United Kingdom
The General Tax System
The Tax Treatment of Interest
Foreign Exchange Gains and Losses
Financial Instruments
The United States
The General Implications of the US Tax Reform Act of 1986
The Tax Treatment of Interest
Foreign Exchange Taxation
US Case Law on Foreign Exchange Taxation
Canada
The General Tax System
The Tax Treatment of Interest
Taxation of Forex Gains and Losses
Contintental Europe
Continental Europe
Interest Withholding Tax in the European Economic Community--A Current Dispute
Australasia
Australia
New Zealand
The Far East
Japan
Hong Kong and Singapore
Bibliography
Index